Oaktree Capital Group, LLC (NYSE:OAK) Expected to Post Earnings of $0.60 Per Share
Equities analysts predict that Oaktree Capital Group, LLC (NYSE:OAK) will announce $0.60 earnings per share for the current quarter, Zacks reports. Four analysts have issued estimates for Oaktree Capital Group’s earnings, with estimates ranging from $0.44 to $0.86. Oaktree Capital Group posted earnings of $0.92 per share in the same quarter last year, which suggests a negative year over year growth rate of 34.8%. The company is scheduled to issue its next quarterly earnings results on Friday, October 27th.
On average, analysts expect that Oaktree Capital Group will report full year earnings of $3.87 per share for the current year, with EPS estimates ranging from $3.56 to $4.12. For the next financial year, analysts anticipate that the business will post earnings of $3.81 per share, with EPS estimates ranging from $3.54 to $4.30. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Oaktree Capital Group.
Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.26. Oaktree Capital Group had a return on equity of 20.71% and a net margin of 19.17%. The business had revenue of $704.36 million for the quarter, compared to analyst estimates of $592.84 million. During the same quarter in the prior year, the company earned $0.79 earnings per share.
Several research firms recently weighed in on OAK. Goldman Sachs Group, Inc. (The) lowered shares of Oaktree Capital Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $50.00 to $49.00 in a report on Friday, July 28th. BidaskClub upgraded shares of Oaktree Capital Group from a “hold” rating to a “buy” rating in a report on Saturday. Jefferies Group LLC began coverage on shares of Oaktree Capital Group in a report on Wednesday, June 28th. They set a “hold” rating and a $49.00 target price on the stock. Deutsche Bank AG lifted their target price 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 restated an “overweight” rating and set a $54.00 target price (down previously from $56.00) on shares of Oaktree Capital Group in a report on Monday, July 10th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $47.33.
Shares of Oaktree Capital Group (NYSE:OAK) opened at 47.45 on Monday. The stock’s 50 day moving average price is $47.35 and its 200-day moving average price is $45.64. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 10.35 and a beta of 0.60. Oaktree Capital Group has a 52-week low of $36.95 and a 52-week high of $48.50.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Monday, August 7th will be issued a $1.31 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $5.24 dividend on an annualized basis and a yield of 11.04%. This is a positive change from Oaktree Capital Group’s previous quarterly dividend of $0.71. Oaktree Capital Group’s payout ratio is currently 114.66%.
In other news, Director Ocm Growth Holdings Llc acquired 909,443 shares of the business’s stock in a transaction on Monday, June 12th. The shares were purchased at an average price of $15.00 per share, for a total transaction of $13,641,645.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
A number of institutional investors have recently modified their holdings of the company. Penserra Capital Management LLC increased its stake in Oaktree Capital Group by 122.0% in the first quarter. Penserra Capital Management LLC now owns 2,247 shares of the asset manager’s stock valued at $101,000 after buying an additional 1,235 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in Oaktree Capital Group during the first quarter valued at $103,000. US Bancorp DE increased its stake in Oaktree Capital Group by 59.2% in the second quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock valued at $141,000 after buying an additional 1,125 shares during the last quarter. Kayne Anderson Capital Advisors LP bought a new stake in Oaktree Capital Group during the second quarter valued at $209,000. Finally, Financial Architects Inc increased its stake in Oaktree Capital Group by 2.9% in the first quarter. Financial Architects Inc now owns 4,747 shares of the asset manager’s stock valued at $215,000 after buying an additional 135 shares during the last quarter. Hedge funds and other institutional investors own 23.23% of the company’s stock.
Oaktree Capital Group Company Profile
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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