Apollo Global Management, LLC (APO) Releases Quarterly Earnings Results, Beats Expectations By $0.51 EPS
Apollo Global Management, LLC (NYSE:APO) posted its quarterly earnings data on Wednesday. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.56 by $0.51, Bloomberg Earnings reports. The firm had revenue of $645.20 million for the quarter, compared to the consensus estimate of $467.72 million. Apollo Global Management had a return on equity of 59.61% and a net margin of 21.79%. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.58 EPS.
Several equities research analysts recently issued reports on the company. Wells Fargo & Company reiterated an “outperform” rating and issued a $39.00 price objective (up previously from $34.00) on shares of Apollo Global Management in a report on Thursday. Citigroup Inc. boosted their target price on Apollo Global Management from $35.50 to $38.00 and gave the stock a “buy” rating in a research note on Thursday. Credit Suisse Group boosted their target price on Apollo Global Management from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday. BidaskClub raised Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Finally, Oppenheimer Holdings, Inc. boosted their target price on Apollo Global Management from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 14th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $33.15.
In other news, Director Robert K. Kraft acquired 30,000 shares of the stock in a transaction on Thursday, August 10th. The shares were purchased at an average cost of $29.90 per share, for a total transaction of $897,000.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Tiger Global Management Llc acquired 253,672 shares of the stock in a transaction on Friday, September 8th. The shares were purchased at an average price of $28.48 per share, for a total transaction of $7,224,578.56. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 294,672 shares of company stock worth $8,444,659. Corporate insiders own 4.11% of the company’s stock.
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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