$281.25 Million in Sales Expected for Oaktree Capital Group, LLC (OAK) This Quarter
Equities analysts forecast that Oaktree Capital Group, LLC (NYSE:OAK) will post sales of $281.25 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Oaktree Capital Group’s earnings. The lowest sales estimate is $262.00 million and the highest is $310.72 million. Oaktree Capital Group posted sales of $365.01 million during the same quarter last year, which suggests a negative year-over-year growth rate of 22.9%. The company is expected to announce its next quarterly earnings report on Friday, October 27th.
According to Zacks, analysts expect that Oaktree Capital Group will report full year sales of $281.25 million for the current fiscal year, with estimates ranging from $1.68 billion to $1.78 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.68 billion per share, with estimates ranging from $1.62 billion to $1.87 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Oaktree Capital Group.
Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings results on Thursday, July 27th. The asset manager reported $1.73 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.26. The company had revenue of $704.36 million during the quarter, compared to the consensus estimate of $592.84 million. Oaktree Capital Group had a return on equity of 20.11% and a net margin of 19.17%. During the same quarter in the prior year, the company earned $0.79 EPS.
A number of analysts recently commented on OAK shares. Jefferies Group LLC started coverage on Oaktree Capital Group in a research report on Wednesday, June 28th. They set a “hold” rating and a $49.00 price objective for the company. BidaskClub cut Oaktree Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Morgan Stanley reiterated an “overweight” rating and set a $54.00 price objective (down previously from $56.00) on shares of Oaktree Capital Group in a research report on Monday, July 10th. Finally, Goldman Sachs Group, Inc. (The) cut Oaktree Capital Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $50.00 to $49.00 in a research report on Friday, July 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $47.50.
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In other Oaktree Capital Group news, Director Oaktree Capital Group Holdings sold 10,000,000 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $5.66, for a total transaction of $56,600,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman John Frank sold 16,666 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $46.72, for a total value of $778,635.52. Following the sale, the insider now directly owns 41,667 shares of the company’s stock, valued at approximately $1,946,682.24. The disclosure for this sale can be found here.
Large investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC grew its holdings in Oaktree Capital Group by 122.0% during the first quarter. Penserra Capital Management LLC now owns 2,247 shares of the asset manager’s stock valued at $101,000 after purchasing an additional 1,235 shares during the period. Russell Investments Group Ltd. bought a new stake in Oaktree Capital Group during the first quarter valued at about $103,000. Bronfman E.L. Rothschild L.P. bought a new stake in Oaktree Capital Group during the second quarter valued at about $110,000. US Bancorp DE grew its holdings in Oaktree Capital Group by 59.2% during the second quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock valued at $141,000 after purchasing an additional 1,125 shares during the period. Finally, MML Investors Services LLC bought a new stake in Oaktree Capital Group during the second quarter valued at about $207,000. 22.54% of the stock is owned by institutional investors and hedge funds.
Oaktree Capital Group (NYSE OAK) traded up 0.11% on Friday, hitting $45.25. The stock had a trading volume of 56,368 shares. Oaktree Capital Group has a 52 week low of $36.95 and a 52 week high of $48.50. The firm has a 50-day moving average of $46.40 and a 200 day moving average of $46.20. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 9.87 and a beta of 0.61.
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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