Brokerages expect Oaktree Capital Group LLC (NYSE:OAK) to post $327.78 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Oaktree Capital Group’s earnings, with estimates ranging from $291.98 million to $349.00 million. Oaktree Capital Group posted sales of $327.41 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.1%. The firm is expected to announce its next quarterly earnings results on Tuesday, February 5th.
On average, analysts expect that Oaktree Capital Group will report full-year sales of $1.39 billion for the current year, with estimates ranging from $1.34 billion to $1.47 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.54 billion, with estimates ranging from $1.45 billion to $1.72 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Oaktree Capital Group.
Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings data on Thursday, October 25th. The asset manager reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.29. The company had revenue of $320.17 million during the quarter, compared to analyst estimates of $272.40 million. Oaktree Capital Group had a return on equity of 14.03% and a net margin of 13.96%.
A number of research firms have recently issued reports on OAK. TheStreet upgraded Oaktree Capital Group from a “c+” rating to a “b-” rating in a research report on Thursday, November 15th. Deutsche Bank dropped their price target on Oaktree Capital Group from $41.00 to $39.00 and set a “hold” rating for the company in a research report on Friday, November 16th. Morgan Stanley dropped their price target on Oaktree Capital Group from $51.00 to $48.00 and set an “overweight” rating for the company in a research report on Tuesday, August 14th. JPMorgan Chase & Co. upped their price target on Oaktree Capital Group from $47.00 to $50.00 and gave the company a “neutral” rating in a research report on Wednesday, October 24th. Finally, ValuEngine upgraded Oaktree Capital Group from a “sell” rating to a “hold” rating in a research report on Wednesday, October 17th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Oaktree Capital Group currently has an average rating of “Hold” and an average target price of $45.40.
In other Oaktree Capital Group news, Director Ocm Growth Holdings Llc acquired 1,006,899 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The shares were purchased at an average cost of $15.02 per share, for a total transaction of $15,123,622.98. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Oaktree Capital Group Holdings acquired 82,639 shares of the firm’s stock in a transaction that occurred on Tuesday, November 13th. The stock was acquired at an average price of $4.64 per share, for a total transaction of $383,444.96. The disclosure for this purchase can be found here. Insiders purchased 1,684,477 shares of company stock worth $18,192,267 over the last quarter.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EdgePoint Investment Group Inc. acquired a new position in Oaktree Capital Group during the second quarter worth $167,000. Stelac Advisory Services LLC lifted its stake in Oaktree Capital Group by 44.2% during the third quarter. Stelac Advisory Services LLC now owns 4,173 shares of the asset manager’s stock worth $173,000 after purchasing an additional 1,280 shares in the last quarter. Northern Trust Corp acquired a new position in Oaktree Capital Group during the second quarter worth $201,000. Alpine Global Management LLC acquired a new position in Oaktree Capital Group during the third quarter worth $231,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Oaktree Capital Group during the third quarter worth $243,000. Hedge funds and other institutional investors own 27.17% of the company’s stock.
OAK stock opened at $41.51 on Friday. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 2.60. The company has a market capitalization of $6.38 billion, a PE ratio of 10.46, a P/E/G ratio of 1.20 and a beta of 0.57. Oaktree Capital Group has a 1 year low of $38.65 and a 1 year high of $46.80.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 13th. Investors of record on Monday, November 5th were issued a $0.70 dividend. The ex-dividend date of this dividend was Friday, November 2nd. This is a boost from Oaktree Capital Group’s previous quarterly dividend of $0.55. This represents a $2.80 dividend on an annualized basis and a yield of 6.75%. Oaktree Capital Group’s dividend payout ratio is currently 70.53%.
About Oaktree Capital Group
Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. It manage investments in a number of strategies within six asset classes, including distressed debt; corporate debt, including high yield debt and senior loans; control investing; convertible securities; real estate; and listed equities.
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