Fortress Investment Group LLC (NYSE:FIG) – Jefferies Group cut their FY2016 earnings estimates for shares of Fortress Investment Group in a research report issued on Tuesday. Jefferies Group analyst D. Fannon now expects that the firm will earn $0.89 per share for the year, down from their prior forecast of $0.92. Jefferies Group also issued estimates for Fortress Investment Group’s Q4 2016 earnings at $0.22 EPS and FY2017 earnings at $1.10 EPS.

Fortress Investment Group (NYSE:FIG) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.26 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. The business earned $232 million during the quarter, compared to analysts’ expectations of $235.83 million. The firm’s quarterly revenue was down 24.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.30 earnings per share.

Earnings History and Estimates for Fortress Investment Group (NYSE:FIG)

A number of other brokerages have also recently issued reports on FIG. Keefe, Bruyette & Woods cut Fortress Investment Group from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $6.50 to $5.50 in a research report on Monday, July 11th. Zacks Investment Research cut Fortress Investment Group from a “hold” rating to a “sell” rating in a research report on Tuesday, July 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. Fortress Investment Group has a consensus rating of “Hold” and a consensus price target of $6.64.

Shares of Fortress Investment Group (NYSE:FIG) opened at 5.08 on Thursday. Fortress Investment Group has a 52-week low of $3.87 and a 52-week high of $6.29. The stock has a 50 day moving average price of $5.02 and a 200-day moving average price of $4.89. The stock has a market capitalization of $1.10 billion, a PE ratio of 71.55 and a beta of 1.89.

A number of hedge funds have recently bought and sold shares of FIG. Tower Research Capital LLC TRC boosted its stake in Fortress Investment Group by 37.2% in the second quarter. Tower Research Capital LLC TRC now owns 24,029 shares of the company’s stock worth $106,000 after buying an additional 6,514 shares during the last quarter. National Asset Management Inc. boosted its stake in Fortress Investment Group by 25.8% in the second quarter. National Asset Management Inc. now owns 24,900 shares of the company’s stock worth $111,000 after buying an additional 5,100 shares during the last quarter. Stifel Financial Corp bought a new stake in Fortress Investment Group during the second quarter worth $149,000. Acrospire Investment Management LLC boosted its stake in Fortress Investment Group by 781.9% in the second quarter. Acrospire Investment Management LLC now owns 34,401 shares of the company’s stock worth $152,000 after buying an additional 30,500 shares during the last quarter. Finally, Williams Jones & Associates LLC bought a new stake in Fortress Investment Group during the second quarter worth $159,000.

Fortress Investment Group Company Profile

Fortress Investment Group LLC (Fortress) is an investment management firm with approximately $70.5 billion in assets under management (AUM). The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle.

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