Altus Group (TSE:AIF) Stock Crosses Above 200 Day Moving Average - What's Next?

Key Points

• Altus Group shares briefly crossed above their 200-day moving average during Tuesday trading, with the stock reaching as high as C$47.12 before last trading at C$45.19.
• Analyst sentiment remains mixed: the stock has a consensus Hold rating and an average price target of C$55.62, though recent target changes ranged from C$45 to C$58.
• The company recently reported quarterly EPS of C$0.42 on revenue of C$108.23 million and paid a quarterly dividend of C$0.15, equal to a 1.3% annualized yield.

Altus Group Limited (TSE:AIF - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$46.33 and traded as high as C$47.12. Altus Group shares last traded at C$45.19, with a volume of 123,583 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on AIF shares. National Bank Financial dropped their target price on shares of Altus Group from C$52.00 to C$45.00 and set a "sector perform" rating on the stock in a research note on Wednesday, May 27th. BMO Capital Markets upped their price objective on Altus Group from C$48.00 to C$54.00 in a research note on Thursday, April 16th. Finally, ATB Cormark Capital Markets increased their price objective on Altus Group from C$54.00 to C$58.00 and gave the company an "outperform" rating in a report on Friday, April 17th. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of C$55.62.

Altus Group Stock Performance

The company has a debt-to-equity ratio of 52.00, a current ratio of 0.71 and a quick ratio of 1.30. The firm has a market capitalization of C$1.62 billion, a PE ratio of -2,259.50, a P/E/G ratio of 0.96 and a beta of 0.29. The company's fifty day simple moving average is C$44.70 and its 200 day simple moving average is C$46.33.

Altus Group (TSE:AIF - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported C$0.42 earnings per share for the quarter. Altus Group had a negative net margin of 3.42% and a negative return on equity of 2.76%. The firm had revenue of C$108.23 million during the quarter. As a group, equities research analysts expect that Altus Group Limited will post 1.7263823 EPS for the current fiscal year.

Altus Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Wednesday, July 15th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Tuesday, June 30th. Altus Group's payout ratio is currently -3,000.00%.

Insider Transactions at Altus Group

In related news, Director William Brennan bought 2,000 shares of the company's stock in a transaction on Thursday, May 28th. The shares were purchased at an average price of C$42.90 per share, for a total transaction of C$85,800.00. Following the completion of the transaction, the director directly owned 3,529,831 shares in the company, valued at approximately C$151,429,749.90. The trade was a 0.06% increase in their position. Over the last quarter, insiders have acquired 190,392 shares of company stock worth $8,052,187. Insiders own 4.05% of the company's stock.

About Altus Group

Altus Group Ltd operates in the Canadian real estate sector. Its services can be summed up as advisory services, software and data solutions to the property and real estate industry. The company has three reportable segments namely Altus Analytics, Commercial Real Estate Consulting, and Geomatics. It generates maximum revenue from the Commercial Real Estate Consulting segment. A part of its revenue is also derived from the United States, Europe, and the Asia Pacific.

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