Oaktree Capital Group (OAK) Announces Quarterly Earnings, Beats Expectations By $0.47 EPS
Oaktree Capital Group (NYSE:OAK) announced its earnings results on Thursday. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.47, AmericanBankingNews.com reports. The company had revenue of $528.62 million for the quarter, compared to the consensus estimate of $412.90 million.
Shares of Oaktree Capital Group (NYSE:OAK) opened at 57.86 on Thursday. Oaktree Capital Group has a 52-week low of $48.35 and a 52-week high of $61.88. The stock’s 50-day moving average is $58.50 and its 200-day moving average is $55.43. The company has a market cap of $2.213 billion and a price-to-earnings ratio of 9.83.
A number of analysts have recently weighed in on OAK shares. Analysts at Deutsche Bank initiated coverage on shares of Oaktree Capital Group in a research note on Tuesday, January 28th. They set a “buy” rating and a $68.00 price target on the stock. Analysts at Credit Suisse initiated coverage on shares of Oaktree Capital Group in a research note on Tuesday, December 10th. They set a “neutral” rating on the stock. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $61.24.
Oaktree Capital Group, LLC (NYSE:OAK) is a global investment management firm focused on alternative markets.
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