Brokerages Expect Apollo Global Management, LLC (APO) Will Post Earnings of $0.55 Per Share
Brokerages forecast that Apollo Global Management, LLC (NYSE:APO) will report $0.55 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Apollo Global Management’s earnings, with estimates ranging from $0.46 to $0.63. Apollo Global Management posted earnings per share of $0.58 in the same quarter last year, which would suggest a negative year over year growth rate of 5.2%. The business is expected to report its next earnings report before the market opens on Wednesday, November 1st.
According to Zacks, analysts expect that Apollo Global Management will report full-year earnings of $2.42 per share for the current year, with EPS estimates ranging from $2.09 to $2.59. For the next year, analysts expect that the company will report earnings of $2.87 per share, with EPS estimates ranging from $2.22 to $3.24. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Apollo Global Management.
Apollo Global Management (NYSE:APO) last released its quarterly earnings results on Wednesday, August 2nd. The financial services provider reported $0.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.50 by ($0.04). Apollo Global Management had a net margin of 21.79% and a return on equity of 59.61%. The company had revenue of $432.87 million for the quarter, compared to the consensus estimate of $455.29 million. During the same period last year, the company earned $0.98 earnings per share. Apollo Global Management’s revenue for the quarter was down 34.5% compared to the same quarter last year.
APO has been the topic of several research reports. Zacks Investment Research lowered shares of Apollo Global Management from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 11th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $33.00 price target on shares of Apollo Global Management in a report on Friday, July 14th. BidaskClub lowered shares of Apollo Global Management from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 27th. Morgan Stanley reaffirmed an “equal weight” rating and set a $26.00 price target (up from $25.00) on shares of Apollo Global Management in a report on Monday, July 10th. Finally, Jefferies Group LLC reaffirmed a “buy” rating on shares of Apollo Global Management in a report on Thursday, August 3rd. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $29.29.
In other news, Director A B. Krongard acquired 1,000 shares of Apollo Global Management stock in a transaction dated Monday, August 28th. The shares were bought at an average cost of $29.28 per share, with a total value of $29,280.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Tiger Global Management Llc acquired 261,429 shares of Apollo Global Management stock in a transaction dated Monday, July 24th. The stock was purchased at an average cost of $27.93 per share, for a total transaction of $7,301,711.97. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 1,399,918 shares of company stock worth $39,210,819. Insiders own 4.11% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Apollo Global Management by 20.4% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 26,279 shares of the financial services provider’s stock valued at $695,000 after purchasing an additional 4,460 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at $455,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at $1,810,000. Janus Henderson Group PLC bought a new stake in shares of Apollo Global Management in the 2nd quarter valued at $15,887,000. Finally, Capital World Investors boosted its stake in shares of Apollo Global Management by 16.5% in the 2nd quarter. Capital World Investors now owns 7,649,700 shares of the financial services provider’s stock valued at $202,335,000 after purchasing an additional 1,082,313 shares during the last quarter. 73.58% of the stock is currently owned by institutional investors.
Shares of Apollo Global Management (APO) opened at 30.54 on Friday. Apollo Global Management has a 1-year low of $17.38 and a 1-year high of $31.69. The stock’s 50 day moving average is $29.55 and its 200 day moving average is $27.49. The company has a market capitalization of $5.92 billion, a PE ratio of 11.96 and a beta of 1.20.
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Apollo Global Management Company Profile
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’s segments include private equity, credit and real estate.
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