Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

AGF Management Falls After Missing Estimates: Toronto Mover

Jan. 25 (Bloomberg) -- AGF Management Ltd., a Toronto-based mutual fund company, had its biggest decline in five months after reporting results that missed analysts’ estimates.

AGF fell 5.1 percent to C$16.03 at 10:47 a.m. in Toronto, its biggest drop since Aug. 8.

Fourth-quarter net income fell to C$21.9 million ($21.6 million), or 23 cents a share, from C$30.9 million, or 34 cents, in the year-earlier period, the company said today in a statement.

AGF was expected to earn 30 cents a share excluding items, according to the average estimate of eight analysts surveyed by Bloomberg News.

“We believe that the fourth-quarter earnings will likely reset expectations on the firm’s outlook,” Barclays Capital analyst John Aiken said today in a note to clients.

To contact the reporter on this story: Doug Alexander in Toronto at dalexander3@bloomberg.net

To contact the editor responsible for this story: David Scanlan at dscanlan@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.