Oaktree Capital Group, LLC (OAK) Expected to Earn Q2 2017 Earnings of $1.40 Per Share
Oaktree Capital Group, LLC (NYSE:OAK) – Equities researchers at Oppenheimer Holdings issued their Q2 2017 earnings per share (EPS) estimates for shares of Oaktree Capital Group in a research report issued on Tuesday. Oppenheimer Holdings analyst L. Rudary anticipates that the asset manager will earn $1.40 per share for the quarter. Oppenheimer Holdings also issued estimates for Oaktree Capital Group’s Q3 2017 earnings at $0.65 EPS, Q4 2017 earnings at $0.66 EPS, FY2017 earnings at $3.57 EPS and FY2018 earnings at $3.82 EPS.
Several other equities research analysts also recently commented on the company. TheStreet upgraded Oaktree Capital Group from a “c+” rating to a “b-” rating in a report on Monday, April 3rd. BidaskClub upgraded Oaktree Capital Group from a “hold” rating to a “buy” rating in a report on Thursday, July 13th. Jefferies Group LLC began coverage on Oaktree Capital Group in a report on Wednesday, June 28th. They issued a “hold” rating and a $49.00 price objective for the company. Deutsche Bank AG lifted their price objective on Oaktree Capital Group from $44.00 to $45.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $54.00 price objective (down from $56.00) on shares of Oaktree Capital Group in a report on Monday, July 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. Oaktree Capital Group has an average rating of “Hold” and an average target price of $48.00.
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Shares of Oaktree Capital Group (NYSE:OAK) opened at 47.75 on Friday. The company has a market cap of $3.07 billion, a price-to-earnings ratio of 13.55 and a beta of 0.60. Oaktree Capital Group has a 1-year low of $36.95 and a 1-year high of $48.94. The stock has a 50 day moving average of $47.17 and a 200 day moving average of $45.18.
Oaktree Capital Group (NYSE:OAK) last posted its earnings results 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. Oaktree Capital Group had a net margin of 19.08% and a return on equity of 17.74%. The firm had revenue of $391.20 million during the quarter, compared to analyst estimates of $341.84 million. During the same quarter in the prior year, the business posted $0.49 EPS. The business’s revenue was up 25.0% compared to the same quarter last year.
In other news, Director Ocm Growth Holdings Llc purchased 909,443 shares of the business’s stock in a transaction on Monday, June 12th. The stock was acquired at an average cost of $15.00 per share, for a total transaction of $13,641,645.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Several large investors have recently added to or reduced their stakes in OAK. Envestnet Asset Management Inc. purchased a new stake in Oaktree Capital Group during the fourth quarter worth about $192,000. Pekin Singer Strauss Asset Management IL increased its stake in Oaktree Capital Group by 15.0% in the fourth quarter. Pekin Singer Strauss Asset Management IL now owns 410,826 shares of the asset manager’s stock worth $15,406,000 after buying an additional 53,603 shares in the last quarter. Creative Planning increased its stake in Oaktree Capital Group by 31.3% in the first quarter. Creative Planning now owns 24,863 shares of the asset manager’s stock worth $1,126,000 after buying an additional 5,931 shares in the last quarter. SOL Capital Management CO increased its stake in Oaktree Capital Group by 49.9% in the first quarter. SOL Capital Management CO now owns 32,760 shares of the asset manager’s stock worth $1,484,000 after buying an additional 10,900 shares in the last quarter. Finally, National Investment Services Inc. WI purchased a new stake in Oaktree Capital Group during the first quarter worth about $2,100,000. Institutional investors and hedge funds own 22.80% of the company’s stock.
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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