Research Analysts Set Expectations for Apollo Global Management LLC’s Q3 2016 Earnings (APO)
Apollo Global Management LLC (NYSE:APO) – Equities researchers at Oppenheimer Holdings lowered their Q3 2016 EPS estimates for Apollo Global Management in a report issued on Wednesday. Oppenheimer Holdings analyst C. Kotowski now anticipates that the firm will post earnings per share of $0.59 for the quarter, down from their prior estimate of $0.64. Oppenheimer Holdings has a “Outperform” rating and a $19.00 price target on the stock. Oppenheimer Holdings also issued estimates for Apollo Global Management’s Q4 2016 earnings at $0.47 EPS and FY2016 earnings at $1.87 EPS.
Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.19. The company earned $351.73 million during the quarter, compared to analysts’ expectations of $350.06 million. The company’s quarterly revenue was up 87.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share.
A number of other equities analysts have also recently commented on APO. Deutsche Bank AG reaffirmed a “hold” rating on shares of Apollo Global Management in a research note on Sunday, July 10th. Keefe, Bruyette & Woods decreased their price target on Apollo Global Management from $19.00 to $18.00 and set a “market perform” rating on the stock in a research note on Monday, July 11th. JMP Securities lifted their price target on Apollo Global Management from $26.00 to $27.00 and gave the stock a “market outperform” rating in a research note on Thursday, August 4th. Zacks Investment Research cut Apollo Global Management from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 12th. Finally, Vetr raised Apollo Global Management from a “buy” rating to a “strong-buy” rating and set a $20.72 price target on the stock in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $20.38.
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Shares of Apollo Global Management (NYSE:APO) opened at 17.90 on Monday. Apollo Global Management has a 52-week low of $12.35 and a 52-week high of $19.18. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 18.61 and a beta of 1.77. The company has a 50-day moving average price of $18.30 and a 200-day moving average price of $17.08.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Coronation Fund Managers Ltd. acquired a new position in Apollo Global Management during the second quarter valued at $43,434,000. Beck Mack & Oliver LLC boosted its position in Apollo Global Management by 20.6% in the second quarter. Beck Mack & Oliver LLC now owns 2,560,558 shares of the company’s stock valued at $38,793,000 after buying an additional 437,561 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Apollo Global Management by 31.9% in the second quarter. JPMorgan Chase & Co. now owns 1,356,471 shares of the company’s stock valued at $20,552,000 after buying an additional 327,843 shares in the last quarter. Evercore Wealth Management LLC boosted its position in Apollo Global Management by 1.2% in the second quarter. Evercore Wealth Management LLC now owns 1,202,848 shares of the company’s stock valued at $18,223,000 after buying an additional 13,705 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in Apollo Global Management by 4.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 914,738 shares of the company’s stock valued at $13,858,000 after buying an additional 37,988 shares in the last quarter.
In other news, insider Marc J. Rowan sold 565,519 shares of the business’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $18.62, for a total value of $10,529,963.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Pauline Richards purchased 1,800 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was acquired at an average price of $18.41 per share, with a total value of $33,138.00. The disclosure for this purchase can be found here.
About Apollo Global Management
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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