Affiliated Managers Group Receives Positive Earnings Outlook Update from Jefferies Group (AMG)
Jefferies Group raised their earnings per share (EPS) estimates on shares of Affiliated Managers Group (NYSE:AMG) in a research note issued on Monday, Analyst Ratings News reports. The firm currently has a “buy” rating and a $214.00 price target on the company’s shares. Jefferies Group’s price objective indicates a potential upside of 13.53% from the company’s current price.
Shares of Affiliated Managers Group (NYSE:AMG) traded down 1.35% on Monday, hitting $185.95. The stock had a trading volume of 68,450 shares. Affiliated Managers Group has a one year low of $119.84 and a one year high of $189.43. The stock’s 50-day moving average is $181.1 and its 200-day moving average is $167.. The company has a market cap of $9.828 billion and a price-to-earnings ratio of 39.49.
Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.08. The company had revenue of $541.00 million for the quarter, compared to the consensus estimate of $527.10 million. During the same quarter in the previous year, the company posted $1.66 earnings per share. The company’s revenue for the quarter was up 25.9% on a year-over-year basis. Analysts expect that Affiliated Managers Group will post $9.48 EPS for the current fiscal year.
A number of other firms have also recently commented on AMG. Analysts at Zacks reiterated a “neutral” rating on shares of Affiliated Managers Group in a research note to investors on Friday. They now have a $195.00 price target on the stock. Analysts at Citigroup Inc. raised their price target on shares of Affiliated Managers Group from $160.00 to $180.00 in a research note to investors on Wednesday, July 31st. They now have a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $178.30.
Affiliated Managers Group, Inc (NYSE:AMG) is a global asset management company with equity investments in a diverse group of boutique investment management firms (Affiliates).
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