KKR & Co. L.P. (NYSE:KKR) – Oppenheimer lowered their Q1 2018 earnings estimates for KKR & Co. L.P. in a report issued on Thursday. Oppenheimer analyst C. Kotowski now forecasts that the asset manager will earn $0.58 per share for the quarter, down from their previous estimate of $0.60. Oppenheimer also issued estimates for KKR & Co. L.P.’s FY2019 earnings at $2.81 EPS.
KKR has been the subject of a number of other research reports. TheStreet raised shares of KKR & Co. L.P. from a “c+” rating to a “b-” rating in a report on Wednesday, January 3rd. Goldman Sachs Group raised shares of KKR & Co. L.P. from a “neutral” rating to a “buy” rating in a report on Monday, October 16th. Zacks Investment Research raised shares of KKR & Co. L.P. from a “sell” rating to a “hold” rating in a report on Thursday, December 21st. Sandler O’Neill set a $22.00 target price on shares of KKR & Co. L.P. and gave the stock a “hold” rating in a report on Friday. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $28.00 target price on shares of KKR & Co. L.P. in a report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $24.30.
KKR & Co. L.P. (NYSE:KKR) last released its earnings results on Thursday, February 8th. The asset manager reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.04). KKR & Co. L.P. had a return on equity of 9.53% and a net margin of 30.52%. The business had revenue of $941.64 million for the quarter, compared to analysts’ expectations of $367.36 million. During the same period in the previous year, the company earned $0.40 EPS. KKR & Co. L.P.’s quarterly revenue was up 95.6% compared to the same quarter last year.
The company also recently disclosed a dividend, which will be paid on Tuesday, March 6th. Investors of record on Tuesday, February 20th will be issued a $0.17 dividend. This represents a dividend yield of 0.00802265219443134%. The ex-dividend date is Friday, February 16th. KKR & Co. L.P.’s dividend payout ratio is currently 34.87%.
In other news, major shareholder Holdings L.P. Valueact acquired 450,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was purchased at an average price of $21.70 per share, with a total value of $9,765,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisory Services Network LLC boosted its stake in KKR & Co. L.P. by 1.8% during the second quarter. Advisory Services Network LLC now owns 6,405 shares of the asset manager’s stock worth $119,000 after buying an additional 115 shares during the period. Stelac Advisory Services LLC purchased a new position in KKR & Co. L.P. during the third quarter worth about $119,000. Sterling Investment Advisors Ltd. boosted its stake in KKR & Co. L.P. by 470.0% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 5,700 shares of the asset manager’s stock worth $120,000 after buying an additional 4,700 shares during the period. Tower Research Capital LLC TRC boosted its stake in KKR & Co. L.P. by 48,800.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 7,824 shares of the asset manager’s stock worth $165,000 after buying an additional 7,808 shares during the period. Finally, Summit Securities Group LLC purchased a new position in KKR & Co. L.P. during the fourth quarter worth about $225,000. 64.91% of the stock is owned by hedge funds and other institutional investors.
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About KKR & Co. L.P.
KKR & CO. L.P. (KKR) is a global investment firm that manages investments across multiple asset classes, including private equity, energy, infrastructure, real estate, credit and hedge funds. The Company’s business offers a range of investment management services to its fund investors, and provides capital markets services to its firm, its portfolio companies and third parties.
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