Q4 2016 Earnings Forecast for Fortress Investment Group LLC Issued By Oppenheimer Holdings (FIG)
Fortress Investment Group LLC (NYSE:FIG) – Investment analysts at Oppenheimer Holdings raised their Q4 2016 EPS estimates for Fortress Investment Group in a report issued on Wednesday. Oppenheimer Holdings analyst C. Kotowski now forecasts that the firm will post earnings per share of $0.26 for the quarter, up from their prior estimate of $0.25.
Other equities research analysts have also recently issued research reports about the company. Keefe, Bruyette & Woods set a $6.00 target price on Fortress Investment Group and gave the company a “hold” rating in a research note on Saturday. Zacks Investment Research cut Fortress Investment Group from a “hold” rating to a “sell” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $6.71.
Shares of Fortress Investment Group (NYSE:FIG) opened at 5.08 on Monday. The stock has a 50 day moving average price of $5.02 and a 200 day moving average price of $4.89. The company has a market capitalization of $1.10 billion, a PE ratio of 71.55 and a beta of 1.89. Fortress Investment Group has a 52-week low of $3.87 and a 52-week high of $6.29.
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Fortress Investment Group (NYSE:FIG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.26 earnings per share for the quarter, beating the 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 period in the prior year, the company posted $0.30 earnings per share. The firm’s revenue was down 24.6% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Williams Jones & Associates LLC bought a new position in Fortress Investment Group during the second quarter valued at $159,000. Royal Bank of Canada raised its position in Fortress Investment Group by 37.6% in the second quarter. Royal Bank of Canada now owns 1,183,124 shares of the company’s stock valued at $5,229,000 after buying an additional 323,332 shares during the period. Hillsdale Investment Management Inc. raised its position in Fortress Investment Group by 23.7% in the second quarter. Hillsdale Investment Management Inc. now owns 119,900 shares of the company’s stock valued at $530,000 after buying an additional 23,000 shares during the period. Stifel Financial Corp bought a new position in Fortress Investment Group during the second quarter valued at $149,000. Finally, National Asset Management Inc. raised its position in Fortress Investment Group by 25.8% in the second quarter. National Asset Management Inc. now owns 24,900 shares of the company’s stock valued at $111,000 after buying an additional 5,100 shares during the period.
Fortress Investment Group Company Profile
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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