$592.84 Million in Sales Expected for Oaktree Capital Group, LLC (OAK) This Quarter
Wall Street analysts expect Oaktree Capital Group, LLC (NYSE:OAK) to report $592.84 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Oaktree Capital Group’s earnings, with the lowest sales estimate coming in at $570.00 million and the highest estimate coming in at $630.87 million. Oaktree Capital Group reported sales of $332.82 million during the same quarter last year, which indicates a positive year-over-year growth rate of 78.1%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, July 27th.
According to Zacks, analysts expect that Oaktree Capital Group will report full-year sales of $592.84 million for the current year, with estimates ranging from $1.62 billion to $1.76 billion. For the next fiscal year, analysts expect that the company will post sales of $1.66 billion per share, with estimates ranging from $1.61 billion to $1.78 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Oaktree Capital Group.
Oaktree Capital Group (NYSE:OAK) last released its quarterly earnings data on Thursday, April 27th. The asset manager reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.08. The business had revenue of $391.20 million during the quarter, compared to analysts’ expectations of $341.84 million. Oaktree Capital Group had a net margin of 19.08% and a return on equity of 17.74%. The company’s revenue for the quarter was up 25.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.49 EPS.
A number of equities research analysts recently weighed in on OAK shares. TheStreet raised shares of Oaktree Capital Group from a “c+” rating to a “b-” rating in a report on Monday, April 3rd. BidaskClub raised shares of Oaktree Capital Group from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Jefferies Group LLC started coverage on shares of Oaktree Capital Group in a report on Wednesday, June 28th. They set a “hold” rating and a $49.00 price target for the company. Deutsche Bank AG raised their price target on shares of Oaktree Capital Group from $44.00 to $45.00 and gave the company a “hold” rating in a report on Friday, April 28th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $54.00 price target (down from $56.00) on shares of Oaktree Capital Group in a report on Monday, July 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $48.00.
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In related news, Director Ocm Growth Holdings Llc acquired 909,443 shares of the firm’s stock in a transaction on Monday, June 12th. The stock was bought at an average cost of $15.00 per share, with a total value of $13,641,645.00. The acquisition was disclosed in a document filed with the SEC, which is available through this link.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ardevora Asset Management LLP bought a new position in shares of Oaktree Capital Group during the second quarter valued at $34,596,000. Morgan Stanley raised its position in shares of Oaktree Capital Group by 24.9% in the first quarter. Morgan Stanley now owns 1,984,724 shares of the asset manager’s stock valued at $89,908,000 after buying an additional 395,918 shares in the last quarter. Bank of Montreal Can raised its position in shares of Oaktree Capital Group by 341.7% in the second quarter. Bank of Montreal Can now owns 288,785 shares of the asset manager’s stock valued at $13,458,000 after buying an additional 223,400 shares in the last quarter. ING Groep NV bought a new position in shares of Oaktree Capital Group during the first quarter valued at $9,966,000. Finally, Alliancebernstein L.P. bought a new position in shares of Oaktree Capital Group during the first quarter valued at $8,282,000. 22.80% of the stock is owned by institutional investors.
Oaktree Capital Group (OAK) traded up 0.63% during midday trading on Thursday, hitting $47.80. 38,086 shares of the stock traded hands. The company has a market cap of $3.07 billion, a PE ratio of 13.56 and a beta of 0.60. Oaktree Capital Group has a one year low of $36.95 and a one year high of $48.94. The company’s 50-day moving average is $47.13 and its 200-day moving average is $45.16.
About Oaktree Capital Group
Oaktree Capital Group, LLC (Oaktree) is an investment manager specializing in alternative investments. The Company operates through investment management segment, which consists of the investment management services that the Company provides to its clients. The Company manages investments in a range of strategies within approximately six asset classes, which include corporate debt, convertible securities, distressed debt, control investing, real estate and listed equities.
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