AGF Management (TSE:AGF.B) Price Target Lowered to C$20.00 at Royal Bank Of Canada

Key Points

• Royal Bank of Canada cut AGF Management’s price target to C$20 from C$23 while maintaining a “sector perform” rating, implying approximately 24% upside from the reported C$16.13 share price.
• Other analysts also reduced their targets: Desjardins to C$21, TD to C$20, and BMO Capital Markets to C$19. The stock has an overall “Hold” consensus rating and an average target of C$19.46.
• AGF Management reported quarterly earnings of C$0.72 per share on C$126.7 million in revenue, with a 16.58% net margin and 7.64% return on equity.

AGF Management (TSE:AGF.B - Get Free Report) had its target price reduced by equities research analysts at Royal Bank Of Canada from C$23.00 to C$20.00 in a report released on Thursday, BayStreet reports. The firm presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price suggests a potential upside of 23.99% from the company's current price.

Several other research firms have also commented on AGF.B. Desjardins lowered their price objective on shares of AGF Management from C$23.00 to C$21.00 and set a "buy" rating for the company in a research report on Thursday. TD reduced their target price on shares of AGF Management from C$23.00 to C$20.00 and set a "buy" rating on the stock in a report on Thursday. Finally, BMO Capital Markets lowered their price target on shares of AGF Management from C$21.00 to C$19.00 in a report on Thursday. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat.com, AGF Management currently has an average rating of "Hold" and a consensus target price of C$19.46.

AGF Management Price Performance

Shares of AGF.B traded down C$0.60 during mid-day trading on Thursday, hitting C$16.13. 553,411 shares of the stock were exchanged, compared to its average volume of 258,560. The company has a market cap of C$1.03 billion, a PE ratio of 7.79, a price-to-earnings-growth ratio of 1.18 and a beta of 1.18. AGF Management has a 52-week low of C$13.33 and a 52-week high of C$24.20. The firm has a 50-day moving average of C$21.77 and a two-hundred day moving average of C$19.68. The company has a debt-to-equity ratio of 11.27, a quick ratio of 1.75 and a current ratio of 1.19.

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

About AGF Management

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.