Royal Bank Of Canada Downgrades AGF Management (TSE:AGF.B) to Sector Perform

Key Points

• Royal Bank of Canada downgraded AGF Management from “outperform” to “sector perform,” while maintaining a C$23.00 price target—implying about 13.4% upside from the reported trading price.
• AGF.B shares fell 7.4% to C$20.28 in Tuesday trading, with volume more than double the stock’s average. The company’s 52-week range is C$12.62 to C$24.20.
• Analyst sentiment remains positive overall, with four Buy and four Hold ratings producing a “Moderate Buy” consensus and an average target price of C$20.28. AGF recently reported quarterly earnings of C$0.72 per share on C$126.7 million in revenue.

AGF Management (TSE:AGF.B - Get Free Report) was downgraded by Royal Bank Of Canada from an "outperform" rating to a "sector perform" rating in a note issued to investors on Tuesday, BayStreet reports. They presently have a C$23.00 price target on the stock. Royal Bank Of Canada's target price points to a potential upside of 13.41% from the company's current price.

Several other analysts also recently commented on AGF.B. Desjardins raised their price objective on AGF Management from C$22.00 to C$23.00 and gave the stock a "buy" rating in a research note on Thursday, June 25th. TD lifted their price objective on AGF Management from C$19.00 to C$24.00 and gave the company a "buy" rating in a report on Friday, June 19th. Four research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of C$20.28.

AGF Management Trading Down 7.4%

Shares of AGF.B stock traded down C$1.62 during trading hours on Tuesday, reaching C$20.28. The company had a trading volume of 548,523 shares, compared to its average volume of 254,840. AGF Management has a 1-year low of C$12.62 and a 1-year high of C$24.20. The company has a debt-to-equity ratio of 11.27, a current ratio of 1.19 and a quick ratio of 1.75. The firm has a market cap of C$1.29 billion, a price-to-earnings ratio of 9.80, a P/E/G ratio of 1.18 and a beta of 1.18. The company has a 50 day moving average of C$22.29 and a 200 day moving average of C$19.77.

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 for the quarter. The firm had revenue of C$126.70 million for the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%. On average, equities research analysts anticipate that AGF Management will post 1.5610119 EPS 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.

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