Zacks: Brokerages Expect Manning and Napier Inc (MN) Will Announce Quarterly Sales of $46.76 Million

Wall Street analysts forecast that Manning and Napier Inc (NYSE:MN) will announce sales of $46.76 million for the current quarter, Zacks reports. Two analysts have provided estimates for Manning and Napier’s earnings, with the highest sales estimate coming in at $47.02 million and the lowest estimate coming in at $46.50 million. Manning and Napier posted sales of $59.09 million in the same quarter last year, which suggests a negative year-over-year growth rate of 20.9%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, February 7th.

According to Zacks, analysts expect that Manning and Napier will report full-year sales of $46.76 million for the current financial year, with estimates ranging from $202.30 million to $202.88 million. For the next year, analysts forecast that the firm will post sales of $166.59 million per share, with estimates ranging from $166.58 million to $166.60 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Manning and Napier.

Manning and Napier (NYSE:MN) last posted its quarterly earnings data on Wednesday, November 1st. The asset manager reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.01). The business had revenue of $48.84 million for the quarter, compared to analyst estimates of $47.52 million. Manning and Napier had a return on equity of 30.20% and a net margin of 3.30%. Manning and Napier’s revenue for the quarter was down 22.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.16 EPS.

MN has been the subject of several recent research reports. Zacks Investment Research raised Manning and Napier from a “hold” rating to a “buy” rating and set a $4.50 price target for the company in a report on Tuesday, January 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $4.00 price target on shares of Manning and Napier in a report on Friday, November 10th.

Manning and Napier (NYSE MN) opened at $4.15 on Monday. The company has a market capitalization of $62.42, a P/E ratio of 18.04, a price-to-earnings-growth ratio of 1.54 and a beta of 1.53. Manning and Napier has a twelve month low of $3.00 and a twelve month high of $7.35.

A number of institutional investors have recently bought and sold shares of the business. VNBTrust National Association acquired a new position in Manning and Napier in the 4th quarter valued at approximately $1,476,000. Dimensional Fund Advisors LP raised its holdings in Manning and Napier by 5.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 366,811 shares of the asset manager’s stock valued at $1,449,000 after acquiring an additional 18,656 shares in the last quarter. Goldman Sachs Group Inc. acquired a new position in Manning and Napier in the 2nd quarter valued at approximately $382,000. OxFORD Asset Management LLP raised its holdings in Manning and Napier by 289.8% in the 2nd quarter. OxFORD Asset Management LLP now owns 69,767 shares of the asset manager’s stock valued at $303,000 after acquiring an additional 51,867 shares in the last quarter. Finally, Virtu KCG Holdings LLC acquired a new position in Manning and Napier in the 2nd quarter valued at approximately $245,000. 53.91% of the stock is owned by hedge funds and other institutional investors.

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About Manning and Napier

Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds, as well as a range of consultative services.

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