Cormark Weighs in on Altus Group Limited’s Q2 2022 Earnings (TSE:AIF)

Altus Group Limited (TSE:AIF – Get Rating) – Research analysts at Cormark raised their Q2 2022 earnings per share (EPS) estimates for Altus Group in a report issued on Thursday, May 5th. Cormark analyst G. Fairweather now forecasts that the company will post earnings of $0.73 per share for the quarter, up from their prior estimate of $0.70. Cormark has a “Market Perform” rating and a $65.00 price objective on the stock. Cormark also issued estimates for Altus Group’s 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.

Altus Group (TSE:AIF – Get Rating) last announced its earnings results on Thursday, February 24th. The company reported C$0.42 EPS for the quarter, topping the consensus estimate of C$0.37 by C$0.05. The business had revenue of C$162.91 million for the quarter, compared to the consensus estimate of C$161.95 million.

AIF has been the topic of several other reports. CIBC lowered their target price on shares of Altus Group from C$73.00 to C$50.00 and set a “neutral” rating on the stock in a report on Monday, February 28th. Stifel Nicolaus assumed coverage on shares of Altus Group in a research report on Wednesday, April 27th. They set a “buy” rating and a C$55.00 price target on the stock. Royal Bank of Canada reduced their price target on shares of Altus Group from C$72.00 to C$61.00 and set an “outperform” rating on the stock in a research report on Thursday. BMO Capital Markets reduced their price target on shares of Altus Group from C$74.00 to C$67.00 in a research report on Thursday. Finally, TD Securities reduced their price target on shares of Altus Group from C$71.00 to C$65.00 and set a “buy” rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of C$64.55.

Shares of AIF opened at C$45.43 on Friday. Altus Group has a 12 month low of C$44.56 and a 12 month high of C$72.33. The firm’s 50 day moving average is C$48.76 and its 200-day moving average is C$58.15. The stock has a market capitalization of C$2.00 billion and a PE ratio of 75.72. 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 business also recently announced a quarterly dividend, which was paid on Monday, April 18th. Shareholders of record on Thursday, March 31st were given a $0.15 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.32%. Altus Group’s dividend payout ratio is currently 100.00%.

In related news, Director Raymond Mikulich bought 1,000 shares of the business’s stock in a transaction on Tuesday, February 8th. The shares were purchased at an average price of C$52.03 per share, for a total transaction of C$52,030.00. Following the completion of the transaction, the director now directly owns 9,257 shares of the company’s stock, valued at approximately C$481,641.71. Insiders acquired 2,294 shares of company stock worth $120,034 in the last 90 days.

About Altus Group (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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