BMO Capital Markets Lowers Price Target for Fiera Capital (TSE:FSZ) to C$9.00

BMO Capital Markets has revised its price target for Fiera Capital (TSE:FSZ) from C$10.00 to C$9.00 as stated in a report issued on Thursday morning.

The stock has been the subject of various assessments from different financial institutions. For instance, Desjardins recently raised its price target for Fiera Capital from C$7.75 to C$9.00 while designating the stock with a "hold" rating in a research note dated October 24th. Similarly, CIBC increased its target from C$9.50 to C$11.00 in their report last November 8th, while National Bankshares amended its price target from C$8.00 to C$8.50, issuing an "underperform" rating on October 30th. In another report from Scotiabank, the price target for Fiera Capital fell from C$10.50 to C$10.00. TD Securities also adjusted their target price from C$9.00 to C$10.00, giving a "hold" rating on November 8th. Overall, two analysts have given the stock a sell rating, while six others maintain a hold rating. According to MarketBeat.com, Fiera Capital currently has a consensus rating of "Hold" with an average target price of C$8.93.

Fiera Capital's Price Performance

On Thursday, shares of Fiera Capital commenced trading at C$7.85. Its 50-day moving average stands at C$8.93, with a 200-day moving average of C$8.64. The company’s market fundamentals show a debt-to-equity ratio of 259.56, a current ratio of 1.39, and a quick ratio of 1.05. Fiera Capital's market capitalization is approximately C$688.84 million, with a PE ratio of 14.54, a PEG ratio of -0.87, and a beta of 1.64. Over the past year, the stock has reached a low of C$6.58 and a high of C$10.92.

Recent Earnings and Dividend Announcement

Fiera Capital's most recent quarterly earnings report was released on November 7th, where the company reported an earnings per share (EPS) of C$0.25, exceeding analysts’ consensus estimate of C$0.19 by C$0.06. The firm achieved a return on equity of 22.95% along with a net margin of 8.97%. During the quarter, Fiera Capital reported revenue of C$171.71 million, outperforming the expected C$163.10 million.

Furthermore, the company has recently declared a quarterly dividend, which was processed on December 19th. Shareholders who were on record as of November 19th received a dividend of C$0.216 per share, an increase from the previous quarterly dividend of C$0.22. This increase reflects an annualized dividend of $0.86, yielding an impressive 11.01%. However, Fiera Capital’s payout ratio currently stands at a high 159.26%.

Insider Transactions

In related insider transactions, FIERA CAPITAL S.E.C. sold 10,467 shares of the stock in a transaction that took place on January 6th, with an average sale price of C$8.89, totaling C$93,028.60. Presently, corporate insiders hold about 0.86% of the stock.

About Fiera Capital

Fiera Capital Corporation is an employee-owned investment management firm that offers services primarily to institutional investors, mutual funds, charitable organizations, and individual clients. The company manages tailored client-centric portfolios in equity, fixed income, and balanced categories. It also develops and oversees various mutual funds and income trusts for clients.

Fiera, Market, Stocks