Scotiabank Cuts Altus Group (TSE:AIF) Price Target to C$51.00

Altus Group (TSE:AIF) had its target price reduced by Scotiabank from C$59.00 to C$51.00 in a report released on Friday morning, BayStreet.CA reports.

Several other equities research analysts have also weighed in on the company. TD Securities dropped their price target on Altus Group from C$65.00 to C$63.00 in a research report on Friday. Cormark lifted their price target on Altus Group from C$60.00 to C$63.00 in a research report on Wednesday, July 10th. Eight Capital lifted their price objective on Altus Group from C$50.00 to C$55.00 in a research note on Wednesday, July 10th. National Bankshares lifted their price objective on Altus Group from C$50.00 to C$55.00 and gave the company a sector perform rating in a research note on Thursday, April 18th. Finally, Canaccord Genuity Group lowered their price objective on Altus Group from C$66.00 to C$63.00 in a research note on Wednesday, July 10th. Six equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Altus Group presently has a consensus rating of Hold and a consensus price target of C$56.33.

Altus Group Stock Down 7.1 %

Shares of TSE AIF traded down C$3.90 during mid-day trading on Friday, hitting C$51.00. 306,119 shares of the stock traded hands, compared to its average volume of 76,763. The company has a debt-to-equity ratio of 62.20, a quick ratio of 1.30 and a current ratio of 1.50. Altus Group has a 52 week low of C$35.29 and a 52 week high of C$59.60. The company has a market cap of C$2.33 billion, a price-to-earnings ratio of 188.89, a PEG ratio of 0.96 and a beta of 0.79. The stock has a fifty day moving average price of C$51.96 and a 200-day moving average price of C$50.22.

Altus Group (TSE:AIF) last released its quarterly earnings results on Thursday, August 8th. The company reported C$0.45 earnings per share for the quarter, beating the consensus estimate of C$0.22 by C$0.23. Altus Group had a return on equity of 2.06% and a net margin of 1.60%. The company had revenue of C$206.71 million for the quarter, compared to analyst estimates of C$132.50 million. Research analysts anticipate that Altus Group will post 1.9806823 EPS for the current year.

Altus Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, September 30th. Altus Group’s payout ratio is currently 222.22%.

About Altus Group

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.