AGF Management (TSE:AGF.B) Hits New 12-Month High - Here's Why

Key Points

• AGF Management shares reached a new 52-week high, trading as high as C$23.48 and closing near that level at C$23.38, up from the prior close of C$23.04.
• Analyst sentiment is generally positive, with five Buy ratings and three Holds producing a “Moderate Buy” consensus. Recent price-target increases include TD’s C$24 target, while the overall consensus target remains C$20.28.
• AGF reported quarterly earnings of C$0.72 per share on revenue of C$126.70 million, alongside a 16.58% net margin and 7.64% return on equity.

Shares of AGF Management Limited (TSE:AGF.B - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as C$23.48 and last traded at C$23.38, with a volume of 4905 shares traded. The stock had previously closed at C$23.04.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank Of Canada increased their price target on AGF Management from C$21.00 to C$23.00 and gave the stock an "outperform" rating in a research note on Thursday, June 25th. BMO Capital Markets lifted their price objective on AGF Management from C$19.00 to C$20.00 and gave the company a "market perform" rating in a research report on Wednesday, April 8th. Scotia reduced their target price on AGF Management from C$20.00 to C$18.00 and set a "sector perform" rating on the stock in a research report on Wednesday, April 15th. TD raised their price target on AGF Management from C$19.00 to C$24.00 and gave the stock a "buy" rating in a research note on Friday, June 19th. Finally, Desjardins lifted their price target on AGF Management from C$22.00 to C$23.00 and gave the company a "buy" rating in a report on Thursday, June 25th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of C$20.28.

AGF Management Stock Performance

The stock has a 50 day simple moving average of C$20.50 and a 200 day simple moving average of C$19.04. The company has a market cap of C$1.50 billion, a price-to-earnings ratio of 11.36, a PEG ratio of 1.18 and a beta of 1.25. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27.

AGF Management (TSE:AGF.B - Get Free Report) last issued its earnings results on Wednesday, June 24th. The company reported C$0.72 earnings per share for the quarter. The company had revenue of C$126.70 million during the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%. As a group, analysts predict that AGF Management Limited will post 1.5610119 EPS for the current year.

AGF Management Company Profile

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. Our companies deliver excellence in investing in the public and private markets through three business lines: AGF Investments, AGF Capital Partners and AGF Private Wealth. AGF brings a disciplined approach, focused on incorporating sound, responsible and sustainable corporate practices. The firm's collective investment expertise, driven by its fundamental, quantitative and private investing capabilities, extends globally to a wide range of clients, from financial advisors and their clients to high-net worth and institutional investors including pension plans, corporate plans, sovereign wealth funds, endowments and foundations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source