Jefferies Group Comments on Fortress Investment Group LLC’s Q1 2017 Earnings (FIG)
Fortress Investment Group LLC (NYSE:FIG) – Equities researchers at Jefferies Group issued their Q1 2017 earnings estimates for Fortress Investment Group in a research note issued on Tuesday. Jefferies Group analyst D. Fannon expects that the firm will post earnings per share of $0.26 for the quarter. Jefferies Group also issued estimates for Fortress Investment Group’s Q2 2017 earnings at $0.27 EPS, Q3 2017 earnings at $0.28 EPS and Q4 2017 earnings at $0.28 EPS.
Several other equities research analysts also recently weighed in on FIG. Zacks Investment Research raised Fortress Investment Group from a “sell” rating to a “hold” rating in a report on Monday, July 11th. Keefe, Bruyette & Woods downgraded Fortress Investment Group from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $6.50 to $5.50 in a report on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $6.64.
Fortress Investment Group (NYSE:FIG) traded down 1.01% on Wednesday, reaching $4.88. The company’s stock had a trading volume of 210,550 shares. The company has a market capitalization of $1.06 billion, a price-to-earnings ratio of 68.73 and a beta of 1.89. The firm has a 50-day moving average of $5.02 and a 200 day moving average of $4.89. Fortress Investment Group has a 12-month low of $3.87 and a 12-month high of $6.29.
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Fortress Investment Group (NYSE:FIG) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.26 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.08. The business earned $232 million during the quarter, compared to the consensus estimate of $235.83 million. During the same quarter in the previous year, the company earned $0.30 earnings per share. The company’s revenue for the quarter was down 24.6% compared to the same quarter last year.
A number of hedge funds and other institutional investors have recently made changes to their positions in FIG. Wellington Management Group LLP boosted its position in shares of Fortress Investment Group by 110.8% in the first quarter. Wellington Management Group LLP now owns 26,763,365 shares of the company’s stock valued at $127,929,000 after buying an additional 14,064,389 shares in the last quarter. Coronation Fund Managers Ltd. bought a new position in shares of Fortress Investment Group during the second quarter valued at $32,561,000. Artemis Investment Management LLP boosted its position in shares of Fortress Investment Group by 367.4% in the second quarter. Artemis Investment Management LLP now owns 2,400,000 shares of the company’s stock valued at $10,620,000 after buying an additional 1,886,500 shares in the last quarter. UBS Group AG boosted its position in shares of Fortress Investment Group by 32.5% in the first quarter. UBS Group AG now owns 6,319,252 shares of the company’s stock valued at $30,206,000 after buying an additional 1,548,635 shares in the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Fortress Investment Group during the second quarter valued at $2,740,000.
About Fortress Investment Group
Fortress Investment Group LLC (Fortress) is an investment management firm with approximately $70.5 billion in assets under management (AUM). The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle.
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