Bank of Montreal (NYSE:BMO) Posts Quarterly Earnings Results, Misses Expectations By $0.12 EPS

Bank of Montreal (NYSE:BMO) (TSE:BMO) issued its quarterly earnings data on Tuesday. The bank reported $2.64 EPS for the quarter, missing analysts’ consensus estimates of $2.76 by ($0.12), Briefing.com reports. Bank of Montreal had a net margin of 8.25% and a return on equity of 11.60%. The business had revenue of $8.21 billion during the quarter, compared to analyst estimates of $8.25 billion. During the same period in the previous year, the company posted $2.08 earnings per share. Bank of Montreal’s revenue was up .2% on a year-over-year basis.

Bank of Montreal Stock Down 6.2 %

Shares of BMO opened at $83.30 on Wednesday. The firm has a market cap of $60.75 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 2.04 and a beta of 1.12. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.12. The company’s fifty day moving average is $84.76 and its two-hundred day moving average is $89.87. Bank of Montreal has a fifty-two week low of $73.98 and a fifty-two week high of $100.12.

Analyst Ratings Changes

A number of equities research analysts have commented on BMO shares. Desjardins cut Bank of Montreal from a “buy” rating to a “hold” rating in a report on Wednesday, May 29th. Keefe, Bruyette & Woods lowered Bank of Montreal from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $137.00 to $124.00 in a research note on Monday, June 3rd. Jefferies Financial Group downgraded shares of Bank of Montreal from a “buy” rating to a “hold” rating in a research note on Tuesday. UBS Group initiated coverage on shares of Bank of Montreal in a report on Tuesday, July 2nd. They set a “neutral” rating for the company. Finally, Royal Bank of Canada downgraded shares of Bank of Montreal from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, July 30th. Seven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Bank of Montreal currently has a consensus rating of “Hold” and a consensus target price of $124.00.

Bank of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company’s personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.