Apollo Global Management LLC (APO) to Post Q3 2016 Earnings of $0.54 Per Share, Jefferies Group Forecasts
Apollo Global Management LLC (NYSE:APO) – Investment analysts at Jefferies Group raised their Q3 2016 earnings per share estimates for Apollo Global Management in a report released on Tuesday. Jefferies Group analyst G. O’hara now expects that the firm will post earnings of $0.54 per share for the quarter, up from their previous forecast of $0.48. Jefferies Group has a “Buy” rating and a $23.00 price target on the stock. Jefferies Group also issued estimates for Apollo Global Management’s Q4 2016 earnings at $0.49 EPS, FY2016 earnings at $1.83 EPS, Q1 2017 earnings at $0.54 EPS, Q2 2017 earnings at $0.54 EPS, Q3 2017 earnings at $0.55 EPS, Q4 2017 earnings at $0.55 EPS and FY2017 earnings at $2.17 EPS.
Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.19. The business earned $351.73 million during the quarter, compared to analysts’ expectations of $350.06 million. During the same period in the previous year, the business earned $0.38 EPS. The business’s revenue was up 87.8% compared to the same quarter last year.
Other equities analysts also recently issued research reports about the company. Deutsche Bank AG reissued a “hold” rating on shares of Apollo Global Management in a research report on Sunday, July 10th. Vetr raised Apollo Global Management from a “buy” rating to a “strong-buy” rating and set a $20.76 price objective on the stock in a research report on Thursday, September 8th. Keefe, Bruyette & Woods cut their price objective on Apollo Global Management from $19.00 to $18.00 and set a “market perform” rating on the stock in a research report on Monday, July 11th. JMP Securities upped their price objective on Apollo Global Management from $26.00 to $27.00 and gave the company a “market outperform” rating in a research report on Thursday, August 4th. Finally, Zacks Investment Research downgraded Apollo Global Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 12th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Apollo Global Management has a consensus rating of “Buy” and an average target price of $20.38.
Shares of Apollo Global Management (NYSE:APO) traded down 1.13% during trading on Wednesday, reaching $18.43. The company’s stock had a trading volume of 256,709 shares. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 19.16 and a beta of 1.77. Apollo Global Management has a one year low of $12.35 and a one year high of $19.18. The company has a 50-day moving average price of $18.31 and a 200-day moving average price of $17.05.
A number of large investors have recently added to or reduced their stakes in APO. Evercore Wealth Management LLC boosted its stake in Apollo Global Management by 1.2% in the second quarter. Evercore Wealth Management LLC now owns 1,202,848 shares of the company’s stock worth $18,223,000 after buying an additional 13,705 shares during the period. Royal Bank of Canada boosted its stake in Apollo Global Management by 18.8% in the second quarter. Royal Bank of Canada now owns 23,131 shares of the company’s stock worth $350,000 after buying an additional 3,657 shares during the period. Stifel Financial Corp acquired a new stake in Apollo Global Management during the second quarter worth approximately $158,000. Legal & General Group Plc boosted its stake in Apollo Global Management by 2.9% in the second quarter. Legal & General Group Plc now owns 369,111 shares of the company’s stock worth $5,594,000 after buying an additional 10,263 shares during the period. Finally, National Asset Management Inc. boosted its stake in Apollo Global Management by 36.8% in the second quarter. National Asset Management Inc. now owns 17,938 shares of the company’s stock worth $272,000 after buying an additional 4,828 shares during the period.
In other Apollo Global Management news, insider Marc J. Rowan sold 565,519 shares of the stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $18.62, for a total value of $10,529,963.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Pauline Richards purchased 1,800 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was acquired at an average price of $18.41 per share, with a total value of $33,138.00. The disclosure for this purchase can be found here.
Apollo Global Management Company Profile
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company operates through three segments: Private equity, Credit and Real estate.
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