Manning & Napier (MN) Posts Quarterly Earnings Results, Hits Estimates
Manning & Napier (NYSE:MN) issued its quarterly earnings data on Wednesday. The company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30, Analyst Ratings Network reports. The company had revenue of $94.60 million for the quarter, compared to the consensus estimate of $91.76 million. During the same quarter last year, the company posted $0.27 earnings per share. Manning & Napier’s revenue was up 10.8% compared to the same quarter last year.
A number of analysts have recently weighed in on MN shares. Analysts at Zacks reiterated a “hold” rating on shares of Manning & Napier in a research note to investors on Wednesday, October 9th. They now have a $15.40 price target on the stock. On a related note, analysts at Keefe, Bruyette & Woods raised their price target on shares of Manning & Napier from $18.00 to $19.00 in a research note to investors on Wednesday, October 9th. They now have a “market perform” rating on the stock. Finally, analysts at JPMorgan Chase & Co. raised their price target on shares of Manning & Napier from $18.50 to $20.00 in a research note to investors on Tuesday, October 8th. They now have a “neutral” rating on the stock. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $18.18.
Manning & Napier (NYSE:MN) traded down 4.33% during mid-day trading on Wednesday, hitting $17.69. 30,159 shares of the company’s stock traded hands. Manning & Napier has a 1-year low of $11.70 and a 1-year high of $20.45. The stock’s 50-day moving average is $16.52 and its 200-day moving average is $17.2. The company has a market cap of $241.2 million and a price-to-earnings ratio of 132.07.
The company also recently declared a special dividend, which is scheduled for Monday, February 3rd. Shareholders of record on Wednesday, January 15th will be given a dividend of $0.08 per share. This represents a yield of 3.62%. The ex-dividend date of this dividend is Monday, January 13th.
Manning & Napier, Inc is an independent investment management firm. The Company provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds.
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