Source : investing, Thursday, 2024/9/26
Banque Montreal Capital maintained the “Market Performance” rating of AGF Management Ltd. (AGF/B: CN) (OTC: AGFMF), with a flat price target of CAD 10.00.
The company’s analysis followed AGF Management’s third-quarter financial results.
which showed adjusted earnings before interest, tax.
depreciation and amortization (EBITDA) of C$40 million and adjusted earnings per share of C$0.37. .
These figures exceeded the Bank of Montreal’s forecast of C$37 million for earnings before interest, tax, depreciation and amortization and C$0.35 for earnings per share.
and corresponded to consensus estimates of earnings per share while exceeding earnings before interest, tax, depreciation and amortization..
Increased performance fees from alternative investments and higher fair value adjustments contributed to the company’s profits. However, a decrease in fee income and an increase in selling, general, and administrative expenses (SG&A) somewhat mitigated these gains. Net inflows reported by AGF Management were CAD 14 million.
which, although positive, were lower than expected of CAD 50 million..
Montreal Capital Bank indicated that despite the better-than-expected quarterly results.
there will be no changes in AGF Management’s future earnings forecast.
The company’s stance on the company’s performance and the price target of CAD 10.00 remain unchanged, reflecting a cautious outlook for the AGF outlook.
AGF Management’s recent financial performance indicates a mixed result with some financial metrics exceeding expectations.
while others, such as net inflows, did not meet expected targets..
AGFb is a bull or bear market?
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