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In the latest trading session, Bank of Montreal (BMO) closed at $97.02, marking a -0.4% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.93%. At the same time, the Dow lost 0.43%, and the tech-heavy Nasdaq lost 0.17%.
Coming into today, shares of the bank had gained 3.79% in the past month. In that same time, the Finance sector gained 3.57%, while the S&P 500 gained 6.31%.
Wall Street will be looking for positivity from Bank of Montreal as it approaches its next earnings report date. On that day, Bank of Montreal is projected to report earnings of $2.46 per share, which would represent a year-over-year decline of 12.14%.
BMO's full-year Zacks Consensus Estimates are calling for earnings of $10.44 per share and revenue of $21.53 billion. These results would represent year-over-year changes of +1.26% and -0.47%, respectively.
Investors might also notice recent changes to analyst estimates for Bank of Montreal. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.13% higher. Bank of Montreal is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Bank of Montreal has a Forward P/E ratio of 9.33 right now. Its industry sports an average Forward P/E of 8.22, so we one might conclude that Bank of Montreal is trading at a premium comparatively.
It is also worth noting that BMO currently has a PEG ratio of 1.31. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Banks - Foreign was holding an average PEG ratio of 0.81 at yesterday's closing price.
The Banks - Foreign industry is part of the Finance sector. This group has a Zacks Industry Rank of 99, putting it in the top 40% 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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