18:36:46 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Altus Group Ltd
Symbol AIF
Shares Issued 38,610,012
Close 2017-08-03 C$ 31.06
Market Cap C$ 1,199,226,973
Recent Sedar Documents

Globe says CIBC elevates Altus Group to "neutral"

2017-08-04 09:24 ET - In the News

The Globe and Mail reports in its Friday, Aug. 4, edition that CIBC World Markets analyst Stephanie Price sees a "more balanced" risk-reward proposition for Altus Group ($31.06). The Globe's David Leeder writes in the Eye On Equities column that accordingly, following the release of the Toronto-based company's second quarter results, Ms. Price elevated her rating to "neutral" from "underperformer." Ms. Price continues to target the shares at $28. Analysts on average target the shares at $35. On Wednesday, Altus, which provides independent advisory services, software and information solutions, posted quarterly revenue of $128.8-million and adjusted earnings per share of 41 cents, both well ahead of the consensus projections of $113.5-million and 23 cents. Earnings before interest, taxes, depreciation and amortization margins of 19.4 per cent also exceeded the Street's expectation (14.3 per cent). Elsewhere, Canaccord Genuity analyst Yuri Lynk raised his target to $36 from $34 with a "buy" rating. He says, "Altus continues to have a strong balance sheet with a net debt-to-trailing 12 month EBITDA ratio of just 1.2 times." BMO analyst Stephen MacLeod kept a $37 target and "outperform" rating.

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