Fortress Investment Group LLC (FIG) Expected to Earn FY2016 Earnings of $0.89 Per Share
Fortress Investment Group LLC (NYSE:FIG) – Stock analysts at Jefferies Group dropped their FY2016 earnings estimates for shares of Fortress Investment Group in a research note issued on Tuesday. Jefferies Group analyst D. Fannon now anticipates that the brokerage will earn $0.89 per share for the year, down from their prior forecast of $0.92. Jefferies Group also issued estimates for Fortress Investment Group’s Q4 2016 earnings at $0.22 EPS and FY2017 earnings at $1.10 EPS.
Several other equities research analysts have also recently commented on FIG. Zacks Investment Research raised Fortress Investment Group from a “sell” rating to a “hold” rating in a research note on Monday, July 11th. Keefe, Bruyette & Woods cut Fortress Investment Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $6.50 to $5.50 in a research note on Monday, July 11th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Fortress Investment Group currently has a consensus rating of “Hold” and an average price target of $6.64.
Shares of Fortress Investment Group (NYSE:FIG) remained flat at $4.87 during mid-day trading on Thursday. The company’s stock had a trading volume of 175,050 shares. Fortress Investment Group has a 52 week low of $3.87 and a 52 week high of $6.29. The stock has a market capitalization of $1.05 billion, a PE ratio of 68.59 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.
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Fortress Investment Group (NYSE:FIG) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.08. The company earned $232 million during the quarter, compared to the consensus estimate of $235.83 million. The firm’s quarterly revenue was down 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS.
Several large investors have recently bought and sold shares of FIG. Wellington Management Group LLP boosted its stake in 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. acquired a new stake in Fortress Investment Group during the second quarter valued at $32,561,000. UBS Group AG boosted its stake in 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. Artemis Investment Management LLP boosted its stake in 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. Finally, BNP Paribas Arbitrage SA boosted its stake in Fortress Investment Group by 1.6% in the second quarter. BNP Paribas Arbitrage SA now owns 1,390,200 shares of the company’s stock valued at $6,145,000 after buying an additional 22,540 shares in the last quarter.
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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