AllianceBernstein Holding PT Raised to $24.00 (AB)
Analysts at Morgan Stanley boosted their target price on shares of AllianceBernstein Holding (NYSE:AB) from $23.00 to $24.00 in a research report issued to clients and investors on Tuesday. Morgan Stanley’s price objective suggests a potential upside of 0.54% from the stock’s previous close.
Shares of AllianceBernstein Holding (NYSE:AB) traded up 1.70% during mid-day trading on Tuesday, hitting $23.87. 189,312 shares of the company’s stock traded hands. AllianceBernstein Holding has a 52-week low of $18.77 and a 52-week high of $27.38. The stock has a 50-day moving average of $24.90 and a 200-day moving average of $23.33. The company has a market cap of $2.297 billion and a price-to-earnings ratio of 13.74.
AllianceBernstein Holding (NYSE:AB) last posted its quarterly earnings results on Wednesday, April 30th. The company reported $0.39 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.41 by $0.02. The company had revenue of $715.00 million for the quarter, compared to the consensus estimate of $723.35 million. During the same quarter last year, the company posted $0.38 earnings per share. AllianceBernstein Holding’s revenue was up .7% compared to the same quarter last year. Analysts expect that AllianceBernstein Holding will post $1.73 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, May 22nd. Shareholders of record on Monday, May 12th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 6.54%. The ex-dividend date of this dividend is Thursday, May 8th.
AllianceBernstein Holding L.P provides research, diversified investment management and related services globally to a range of clients through three buy-side distribution channels, Institutions, Retail and Private Client, and its sell-side business, Bernstein Research Services.
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