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Bank of Montreal (BMO) Gains As Market Dips: What You Should Know
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Bank of Montreal (BMO - Free Report) closed the most recent trading day at $103.39, moving +1.2% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.4%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the bank had lost 10.02% over the past month, lagging the Finance sector's loss of 9.6% and the S&P 500's loss of 9.39% in that time.
Bank of Montreal will be looking to display strength as it nears its next earnings release, which is expected to be May 25, 2022. On that day, Bank of Montreal is projected to report earnings of $2.59 per share, which would represent year-over-year growth of 4.02%. Our most recent consensus estimate is calling for quarterly revenue of $5.47 billion, up 13.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.65 per share and revenue of $22.17 billion, which would represent changes of +3.3% and +2.5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bank of Montreal. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.22% lower. Bank of Montreal is currently a Zacks Rank #3 (Hold).
In terms of valuation, Bank of Montreal is currently trading at a Forward P/E ratio of 9.6. For comparison, its industry has an average Forward P/E of 9, which means Bank of Montreal is trading at a premium to the group.
It is also worth noting that BMO currently has a PEG ratio of 1.32. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Foreign industry currently had an average PEG ratio of 0.71 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BMO in the coming trading sessions, be sure to utilize Zacks.com.
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Bank of Montreal (BMO) Gains As Market Dips: What You Should Know
Bank of Montreal (BMO - Free Report) closed the most recent trading day at $103.39, moving +1.2% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.4%. Elsewhere, the Dow gained 0.08%, while the tech-heavy Nasdaq lost 0.18%.
Heading into today, shares of the bank had lost 10.02% over the past month, lagging the Finance sector's loss of 9.6% and the S&P 500's loss of 9.39% in that time.
Bank of Montreal will be looking to display strength as it nears its next earnings release, which is expected to be May 25, 2022. On that day, Bank of Montreal is projected to report earnings of $2.59 per share, which would represent year-over-year growth of 4.02%. Our most recent consensus estimate is calling for quarterly revenue of $5.47 billion, up 13.29% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $10.65 per share and revenue of $22.17 billion, which would represent changes of +3.3% and +2.5%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Bank of Montreal. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.22% lower. Bank of Montreal is currently a Zacks Rank #3 (Hold).
In terms of valuation, Bank of Montreal is currently trading at a Forward P/E ratio of 9.6. For comparison, its industry has an average Forward P/E of 9, which means Bank of Montreal is trading at a premium to the group.
It is also worth noting that BMO currently has a PEG ratio of 1.32. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Banks - Foreign industry currently had an average PEG ratio of 0.71 as of yesterday's close.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 147, putting it in the bottom 42% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow BMO in the coming trading sessions, be sure to utilize Zacks.com.