Apollo Global Management LLC (APO) to Post Q3 2016 Earnings of $0.54 Per Share, Jefferies Group Forecasts
Apollo Global Management LLC (NYSE:APO) – Analysts at Jefferies Group boosted their Q3 2016 earnings per share estimates for Apollo Global Management in a research note issued to investors on Tuesday. Jefferies Group analyst G. O’hara now forecasts that the brokerage will post earnings per share of $0.54 for the quarter, up from their prior estimate of $0.48. Jefferies Group has a “Buy” rating and a $23.00 price objective on the stock. Jefferies Group also issued estimates for Apollo Global Management’s Q4 2016 earnings at $0.49 EPS, FY2016 earnings at $1.83 EPS, Q1 2017 earnings at $0.54 EPS, Q2 2017 earnings at $0.54 EPS, Q3 2017 earnings at $0.55 EPS, Q4 2017 earnings at $0.55 EPS and FY2017 earnings at $2.17 EPS.
Several other equities research analysts also recently commented on the stock. Zacks Investment Research raised shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research note on Tuesday. Vetr downgraded shares of Apollo Global Management from a “strong-buy” rating to a “buy” rating and set a $20.72 price objective for the company. in a research report on Thursday, October 6th. TheStreet raised shares of Apollo Global Management from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. Argus increased their price objective on shares of Apollo Global Management from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 12th. Finally, Oppenheimer Holdings Inc. raised shares of Apollo Global Management from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $17.61 to $19.00 in a research report on Friday, August 5th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.38.
Apollo Global Management (NYSE:APO) traded down 1.13% on Wednesday, reaching $18.43. 256,709 shares of the company’s stock were exchanged. Apollo Global Management has a 12 month low of $12.35 and a 12 month high of $19.18. The firm has a market cap of $3.40 billion, a PE ratio of 19.16 and a beta of 1.77. The firm’s 50-day moving average is $18.31 and its 200-day moving average is $17.05.
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Apollo Global Management (NYSE:APO) last released its earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.20 by $0.19. The firm had revenue of $351.73 million for the quarter, compared to analyst estimates of $350.06 million. The firm’s revenue was up 87.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.38 EPS.
A number of hedge funds have recently made changes to their positions in the stock. Oakworth Capital Inc. purchased a new stake in shares of Apollo Global Management during the second quarter worth approximately $128,000. BlackRock Institutional Trust Company N.A. bought a new stake in Apollo Global Management during the first quarter worth about $135,000. Stifel Financial Corp bought a new stake in Apollo Global Management during the second quarter worth about $158,000. Veritable L.P. bought a new stake in Apollo Global Management during the second quarter worth about $172,000. Finally, Societe Generale bought a new stake in Apollo Global Management during the second quarter worth about $227,000.
In other news, Director Pauline Richards purchased 1,800 shares of the business’s stock in a transaction on Friday, August 5th. The stock was purchased at an average price of $18.41 per share, for a total transaction of $33,138.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marc J. Rowan sold 565,519 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $18.62, for a total transaction of $10,529,963.78. The disclosure for this sale can be found here.
Apollo Global Management Company Profile
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company operates through three segments: Private equity, Credit and Real estate.
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