Altus Group (TSE:AIF) Price Target Lowered to C$65.00 at Cormark

Altus Group (TSE:AIFGet Rating) had its target price lowered by Cormark from C$72.50 to C$65.00 in a research note issued to investors on Thursday morning, Marketbeat.com reports. Cormark currently has a market perform rating on the stock. Cormark also issued estimates for Altus Group’s Q2 2022 earnings at $0.73 EPS, Q3 2022 earnings at $0.48 EPS, Q4 2022 earnings at $0.57 EPS, FY2022 earnings at $2.04 EPS, Q1 2023 earnings at $0.50 EPS, Q3 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.59 EPS and FY2023 earnings at $2.20 EPS.

A number of other equities analysts also recently issued reports on the company. CIBC lowered their price objective on Altus Group from C$73.00 to C$50.00 and set a neutral rating for the company in a research report on Monday, February 28th. Scotiabank lowered their price objective on Altus Group from C$66.00 to C$63.00 in a research report on Friday, February 25th. Royal Bank of Canada lowered their price objective on Altus Group from C$72.00 to C$61.00 and set an outperform rating for the company in a research report on Thursday. National Bankshares lowered their price objective on Altus Group from C$80.00 to C$70.00 and set an outperform rating for the company in a research report on Friday, February 25th. Finally, Canaccord Genuity Group lowered their price objective on Altus Group from C$74.00 to C$70.00 in a research report on Friday, February 25th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of C$64.55.

Altus Group stock opened at C$45.43 on Thursday. The company has a current ratio of 1.35, a quick ratio of 1.32 and a debt-to-equity ratio of 60.75. The company has a market capitalization of C$2.00 billion and a PE ratio of 75.72. Altus Group has a 12 month low of C$44.56 and a 12 month high of C$72.33. The stock has a 50-day moving average price of C$48.76 and a two-hundred day moving average price of C$58.15.

Altus Group (TSE:AIFGet Rating) last posted its earnings results on Thursday, February 24th. The company reported C$0.42 EPS for the quarter, beating the consensus estimate of C$0.37 by C$0.05. The firm had revenue of C$162.91 million during the quarter, compared to the consensus estimate of C$161.95 million. As a group, analysts predict that Altus Group will post 2.2371971 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, April 18th. Investors of record on Thursday, March 31st were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.60 annualized dividend and a yield of 1.32%. Altus Group’s dividend payout ratio is currently 100.00%.

In other news, Director Alex Probyn acquired 1,000 shares of Altus Group stock in a transaction on Thursday, February 10th. The stock was purchased at an average price of C$53.01 per share, with a total value of C$53,010.00. Following the completion of the purchase, the director now owns 30,918 shares of the company’s stock, valued at approximately C$1,638,963.18. Insiders have purchased 2,294 shares of company stock valued at $120,034 in the last ninety days.

Altus Group Company Profile (Get Rating)

Altus Group Limited provides software, data solutions, and independent advisory services to the commercial real estate industry in Canada, the United States, Europe, and the Asia Pacific. It operates through Altus Analytics and Commercial Real Estate Consulting (CRE Consulting) segments. The Altus Analytics segment offers ARGUS Enterprise, a commercial property valuation and asset management software; ARGUS Taliance, a real estate fund and alternative investment management software; ARGUS EstateMaster, a property development feasibility and management software; and ARGUS Developer, a real estate development pro forma and management software solution; ARGUS Voyanta, a powerful data aggregation, validation, and reporting software solution; ARGUS Acquire, a real estate acquisition deals and pipeline management software; and ARGUS ValueInsight, a commercial real estate valuation software.

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Analyst Recommendations for Altus Group (TSE:AIF)

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