Zacks: Brokerages Anticipate Manning and Napier Inc (MN) Will Announce Earnings of $0.07 Per Share

Wall Street brokerages predict that Manning and Napier Inc (NYSE:MN) will post $0.07 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Manning and Napier’s earnings, with the lowest EPS estimate coming in at $0.06 and the highest estimate coming in at $0.07. Manning and Napier posted earnings of $0.13 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 46.2%. The business is scheduled to issue its next earnings report on Wednesday, May 2nd.

According to Zacks, analysts expect that Manning and Napier will report full-year earnings of $0.24 per share for the current financial year, with EPS estimates ranging from $0.23 to $0.25. For the next year, analysts forecast that the firm will post earnings of $0.20 per share, with EPS estimates ranging from $0.14 to $0.25. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that follow Manning and Napier.

Manning and Napier (NYSE:MN) last posted its earnings results on Wednesday, February 7th. The asset manager reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.09 by ($0.05). Manning and Napier had a return on equity of 23.07% and a net margin of 1.78%. The firm had revenue of $45.70 million during the quarter, compared to the consensus estimate of $46.50 million. During the same period in the previous year, the company posted $0.13 EPS. The firm’s revenue for the quarter was down 22.7% compared to the same quarter last year.

Several brokerages have recently issued reports on MN. Zacks Investment Research lowered shares of Manning and Napier from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $4.00 price target on shares of Manning and Napier in a research report on Friday, November 10th.

Manning and Napier (MN) traded up $0.02 on Tuesday, hitting $3.07. 4,123 shares of the stock traded hands, compared to its average volume of 88,314. Manning and Napier has a fifty-two week low of $3.00 and a fifty-two week high of $6.70. The company has a market cap of $45.87, a price-to-earnings ratio of 13.26, a price-to-earnings-growth ratio of 1.43 and a beta of 1.51.

Several large investors have recently made changes to their positions in MN. Brandes Investment Partners LP raised its holdings in Manning and Napier by 81.8% during the 3rd quarter. Brandes Investment Partners LP now owns 31,829 shares of the asset manager’s stock worth $126,000 after buying an additional 14,324 shares during the period. Kovack Advisors Inc. bought a new position in shares of Manning and Napier during the 4th quarter worth approximately $131,000. Macquarie Group Ltd. bought a new position in shares of Manning and Napier during the 3rd quarter worth approximately $153,000. JPMorgan Chase & Co. grew its stake in shares of Manning and Napier by 637.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 40,261 shares of the asset manager’s stock worth $155,000 after acquiring an additional 34,804 shares in the last quarter. Finally, Virtu KCG Holdings LLC bought a new position in shares of Manning and Napier during the 2nd quarter worth approximately $245,000. Institutional investors and hedge funds own 54.17% of the company’s stock.

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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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