Desjardins Issues Pessimistic Forecast for AGF Management (TSE:AGF.B) Stock Price

Key Points

• Desjardins lowered AGF Management’s price target from C$23 to C$21 while maintaining a “buy” rating, implying roughly 30% upside from the prior close.
• Other analysts also reduced their targets: BMO to C$19 and TD to C$20, while RBC downgraded the stock to “sector perform.” The overall consensus is “hold,” with an average target of C$19.46.
• AGF shares fell C$0.60 to C$16.13, below their 50-day moving average of C$21.77, despite the company reporting quarterly EPS of C$0.72 and revenue of C$126.7 million.

AGF Management (TSE:AGF.B - Get Free Report) had its price target lowered by analysts at Desjardins from C$23.00 to C$21.00 in a research report issued to clients and investors on Thursday, BayStreet reports. The brokerage presently has a "buy" rating on the stock. Desjardins' price objective indicates a potential upside of 30.19% from the stock's previous close.

Several other equities research analysts have also recently weighed in on AGF.B. BMO Capital Markets cut their price objective on shares of AGF Management from C$21.00 to C$19.00 in a research report on Thursday. TD dropped their target price on shares of AGF Management from C$23.00 to C$20.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Royal Bank Of Canada downgraded shares of AGF Management from an "outperform" rating to a "sector perform" rating and set a C$23.00 price target for the company. in a report on Tuesday, September 8th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, AGF Management presently has an average rating of "Hold" and a consensus target price of C$19.46.

AGF Management Price Performance

Shares of TSE:AGF.B traded down C$0.60 during trading on Thursday, reaching C$16.13. 553,411 shares of the company traded hands, compared to its average volume of 258,560. The company's 50 day moving average is C$21.77 and its two-hundred day moving average is C$19.68. The firm has a market capitalization of C$1.03 billion, a PE ratio of 7.79, a PEG ratio of 1.18 and a beta of 1.18. 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 has a 52 week low of C$13.33 and a 52 week high of C$24.20.

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

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