FY2024 EPS Estimates for Altus Group Cut by Analyst

Altus Group Limited (TSE:AIF) – Equities researchers at National Bank Financial decreased their FY2024 earnings per share (EPS) estimates for Altus Group in a research note issued to investors on Thursday, November 7th. National Bank Financial analyst R. Tse now forecasts that the company will earn $1.24 per share for the year, down from their previous forecast of $1.36. The consensus estimate for Altus Group’s current full-year earnings is $1.73 per share.

Altus Group (TSE:AIF) last released its quarterly earnings data on Thursday, August 8th. The company reported C$0.45 EPS for the quarter, beating analysts’ consensus estimates of C$0.22 by C$0.23. The business had revenue of C$206.71 million for the quarter, compared to the consensus estimate of C$132.50 million. Altus Group had a return on equity of 0.48% and a net margin of 0.37%.

Other research analysts have also recently issued research reports about the stock. TD Securities lowered their target price on shares of Altus Group from C$65.00 to C$63.00 and set a “buy” rating for the company in a report on Friday, August 9th. Scotiabank decreased their price objective on shares of Altus Group from C$59.00 to C$51.00 and set a “sector perform” rating for the company in a research note on Friday, August 9th. Royal Bank of Canada lifted their target price on Altus Group from C$55.00 to C$56.00 in a research report on Friday. BMO Capital Markets reduced their target price on Altus Group from C$59.00 to C$55.00 in a report on Friday, August 9th. Finally, Cormark dropped their price target on Altus Group from C$63.00 to C$56.00 and set a “hold” rating on the stock in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, Altus Group has an average rating of “Hold” and an average target price of C$56.22.

Altus Group Stock Performance

Shares of AIF opened at C$56.61 on Monday. The company has a market capitalization of C$2.61 billion, a price-to-earnings ratio of 943.50, a price-to-earnings-growth ratio of 0.96 and a beta of 0.82. Altus Group has a 52-week low of C$35.29 and a 52-week high of C$59.60. The company has a quick ratio of 1.30, a current ratio of 1.41 and a debt-to-equity ratio of 57.13. The stock has a 50 day moving average price of C$54.02 and a 200 day moving average price of C$52.12.

Altus Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Tuesday, December 31st. Altus Group’s payout ratio is currently 1,000.00%.

Insider Transactions at Altus Group

In other news, Director William Brennan acquired 500 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were purchased at an average cost of C$54.48 per share, for a total transaction of C$27,240.00. In other Altus Group news, Director William Brennan bought 500 shares of the company’s stock in a transaction on Tuesday, September 24th. The shares were bought at an average price of C$54.48 per share, for a total transaction of C$27,240.00. Also, Senior Officer Kimberly Carter sold 1,100 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$54.00, for a total value of C$59,400.00. Company insiders own 4.05% of the company’s stock.

Altus Group Company Profile

Altus Group Limited provides asset and funds intelligence solutions for commercial real estate (CRE). The company operates through Analytics, Property Tax, and Appraisals and Development Advisory segments. The Analytics segment portfolio includes software, data analytics, market data, and consulting services; CRE asset and fund management services; ARGUS-branded, finance active-branded debt management, and valuation management solutions; technology consulting services, such as strategic advisory for front-to-back-office strategies, processes, and technology; and software services related to education, training, and implementation.