Wall Street analysts forecast that Victory Capital Holdings Inc (NASDAQ:VCTR) will report sales of $106.42 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Victory Capital’s earnings. The lowest sales estimate is $104.80 million and the highest is $108.03 million. Victory Capital posted sales of $105.65 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 0.7%. The firm is expected to report its next quarterly earnings results on Monday, March 25th.
On average, analysts expect that Victory Capital will report full year sales of $423.09 million for the current year, with estimates ranging from $421.06 million to $424.41 million. For the next fiscal year, analysts forecast that the business will post sales of $439.27 million, with estimates ranging from $415.15 million to $462.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Victory Capital.
Victory Capital (NASDAQ:VCTR) last issued its quarterly earnings results on Wednesday, November 7th. The company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.03. The business had revenue of $108.08 million for the quarter, compared to analysts’ expectations of $108.36 million.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Victory Capital from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a report on Wednesday, October 31st. Morgan Stanley lifted their price target on Victory Capital from $15.00 to $16.00 and gave the company a “buy” rating in a report on Tuesday, October 9th. Keefe, Bruyette & Woods upgraded Victory Capital from a “market perform” rating to an “outperform” rating and set a $12.50 price target on the stock in a report on Tuesday, September 25th. Sandler O’Neill set a $11.00 price target on Victory Capital and gave the company a “hold” rating in a report on Wednesday, August 8th. Finally, Royal Bank of Canada reiterated a “buy” rating and set a $13.00 price target on shares of Victory Capital in a report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. Victory Capital presently has an average rating of “Buy” and an average target price of $13.22.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trexquant Investment LP acquired a new position in Victory Capital in the third quarter valued at $179,000. Wesbanco Bank Inc. increased its stake in Victory Capital by 11.6% in the third quarter. Wesbanco Bank Inc. now owns 61,132 shares of the company’s stock valued at $583,000 after purchasing an additional 6,352 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Victory Capital in the third quarter valued at $117,000. First Trust Advisors LP bought a new stake in Victory Capital in the third quarter valued at $187,000. Finally, Bank of Montreal Can bought a new stake in Victory Capital in the third quarter valued at $128,000. 16.27% of the stock is owned by hedge funds and other institutional investors.
Shares of VCTR stock opened at $11.18 on Friday. Victory Capital has a 1-year low of $7.27 and a 1-year high of $13.50. The company has a current ratio of 1.36, a quick ratio of 1.36 and a debt-to-equity ratio of 0.68. The firm has a market cap of $553.44 million and a PE ratio of 8.94.
About Victory Capital
Victory Capital Holdings, Inc, together with its subsidiaries, operates as an independent investment management company in the United States. It offers investment advisory, fund administration, and distribution services through broker-dealers, retirement platforms, and registered investment advisor networks.
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