$125.89 Million in Sales Expected for Financial Engines Inc (FNGN) This Quarter
Wall Street brokerages forecast that Financial Engines Inc (NASDAQ:FNGN) will post $125.89 million in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Financial Engines’ earnings. The lowest sales estimate is $124.20 million and the highest is $127.00 million. Financial Engines posted sales of $113.22 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.2%. The firm is scheduled to report its next quarterly earnings results on Thursday, February 22nd.
According to Zacks, analysts expect that Financial Engines will report full-year sales of $125.89 million for the current year, with estimates ranging from $479.00 million to $482.00 million. For the next financial year, analysts forecast that the firm will post sales of $514.28 million per share, with estimates ranging from $509.60 million to $521.19 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Financial Engines.
Financial Engines (NASDAQ:FNGN) last issued its quarterly earnings data on Thursday, November 2nd. The asset manager reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. Financial Engines had a net margin of 10.56% and a return on equity of 7.60%. The business had revenue of $122.20 million during the quarter, compared to analysts’ expectations of $124.11 million. During the same period last year, the company posted $0.31 EPS. The company’s revenue was up 8.7% on a year-over-year basis.
Shares of Financial Engines (FNGN) traded up $0.60 on Tuesday, hitting $29.60. 1,286,400 shares of the stock were exchanged, compared to its average volume of 729,567. Financial Engines has a fifty-two week low of $24.45 and a fifty-two week high of $45.75. The stock has a market cap of $1,874.20, a PE ratio of 38.44, a price-to-earnings-growth ratio of 1.66 and a beta of 2.15.
The company also recently announced a quarterly dividend, which was paid on Friday, January 5th. Shareholders of record on Thursday, December 14th were paid a $0.07 dividend. The ex-dividend date of this dividend was Wednesday, December 13th. This represents a $0.28 annualized dividend and a yield of 0.95%. Financial Engines’s payout ratio is currently 36.36%.
Financial Engines announced that its board has approved a stock buyback program on Thursday, November 2nd that permits the company to repurchase $60.00 million in shares. This repurchase authorization permits the asset manager to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
In related news, Director Blake R. Grossman acquired 18,000 shares of the stock in a transaction dated Thursday, December 7th. The stock was bought at an average cost of $28.71 per share, with a total value of $516,780.00. Following the purchase, the director now directly owns 43,726 shares of the company’s stock, valued at $1,255,373.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lawrence M. Raffone acquired 15,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were bought at an average cost of $28.54 per share, with a total value of $428,100.00. Following the completion of the purchase, the chief executive officer now directly owns 66,540 shares in the company, valued at $1,899,051.60. The disclosure for this purchase can be found here. Insiders sold a total of 15,431 shares of company stock valued at $567,364 over the last ninety days. 9.27% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Financial Engines by 17.7% during the 2nd quarter. Victory Capital Management Inc. now owns 3,083 shares of the asset manager’s stock valued at $113,000 after buying an additional 464 shares during the period. Riverhead Capital Management LLC lifted its holdings in shares of Financial Engines by 82.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 4,561 shares of the asset manager’s stock valued at $167,000 after acquiring an additional 2,061 shares in the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Financial Engines by 11.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,140 shares of the asset manager’s stock valued at $188,000 after acquiring an additional 520 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Financial Engines during the 3rd quarter valued at $206,000. Finally, Shelton Capital Management acquired a new position in shares of Financial Engines during the 2nd quarter valued at $208,000.
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About Financial Engines
Financial Engines, Inc is a provider of independent, technology-enabled financial advisory services, discretionary portfolio management, personalized investment advice, financial and retirement income planning, and financial education and guidance. The Company offers personalized plans for saving, investing, and generating retirement income, as well as by providing assessments of retirement income needs and readiness.
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