Apollo Global Management Rating Lowered to Market Perform at Wells Fargo & Co. (APO)
Apollo Global Management (NYSE:APO) was downgraded by investment analysts at Wells Fargo & Co. from an “outperform” rating to a “market perform” rating in a note issued to investors on Friday, TheFlyOnTheWall.com reports.
Apollo Global Management (NYSE:APO) traded down 1.23% during mid-day trading on Friday, hitting $24.10. The stock had a trading volume of 125,351 shares. Apollo Global Management has a one year low of $23.69 and a one year high of $36.51. The stock has a 50-day moving average of $26.47 and a 200-day moving average of $28.50. The company has a market cap of $3.778 billion and a P/E ratio of 8.99.
Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, August 6th. The company reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.65 by $0.13. The company had revenue of $572.15 million for the quarter, compared to the consensus estimate of $624.75 million. During the same quarter in the previous year, the company posted $0.50 earnings per share. On average, analysts predict that Apollo Global Management will post $2.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 29th. Shareholders of record on Friday, August 22nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.46%. The ex-dividend date of this dividend is Wednesday, August 20th.
APO has been the subject of a number of other recent research reports. Analysts at Goldman Sachs reiterated a “neutral” rating on shares of Apollo Global Management in a research note on Thursday, August 7th. Separately, analysts at BB&T Corp. initiated coverage on shares of Apollo Global Management in a research note on Monday, July 21st. They set a “buy” rating on the stock. Finally, analysts at RBC Capital upgraded shares of Apollo Global Management from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $35.00.
Apollo Global Management, LLC (NYSE:APO) is a global alternative asset manager.
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