TD Has Lowered Expectations for AGF Management (TSE:AGF.B) Stock Price

Key Points

• TD cut its price target for AGF Management from C$23.00 to C$20.00 but maintained a “buy” rating, implying approximately 24% upside from the reported C$16.13 share price.
• Analyst sentiment is mixed: three analysts rate AGF.B a Buy and four rate it a Hold, producing a consensus “Hold” rating and an average target price of C$19.46.
• AGF Management reported quarterly earnings of C$0.72 per share on C$126.70 million in revenue; the stock traded near C$16.13, with a 12-month range of C$13.33 to C$24.20.

AGF Management (TSE:AGF.B - Get Free Report) had its target price decreased by TD from C$23.00 to C$20.00 in a research report issued on Thursday, BayStreet reports. The firm presently has a "buy" rating on the stock. TD's target price would indicate a potential upside of 23.99% from the company's current price.

A number of other equities research analysts have also issued reports on AGF.B. Royal Bank Of Canada lowered shares of AGF Management from an "outperform" rating to a "sector perform" rating and set a C$23.00 price objective for the company. in a report on Tuesday, September 8th. Desjardins upped their target price on shares of AGF Management from C$22.00 to C$23.00 and gave the stock a "buy" rating in a research report on Thursday, June 25th. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of C$19.46.

AGF Management Price Performance

TSE:AGF.B traded down C$0.60 on Thursday, reaching C$16.13. 553,411 shares of the company's stock traded hands, compared to its average volume of 258,560. The company has a quick ratio of 1.75, a current ratio of 1.19 and a debt-to-equity ratio of 11.27. The stock has a 50-day simple moving average of C$21.77 and a 200-day simple moving average of C$19.68. The firm has a market cap of C$1.03 billion, a PE ratio of 7.79, a P/E/G ratio of 1.18 and a beta of 1.18. AGF Management has a 12 month low of C$13.33 and a 12 month high of C$24.20.

AGF Management (TSE:AGF.B - Get Free Report) last released its quarterly earnings data 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 during the quarter. AGF Management had a return on equity of 7.64% and a net margin of 16.58%. Equities research analysts forecast 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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