Q2 2018 Earnings Forecast for Oaktree Capital Group LLC Issued By Jefferies Group (OAK)
Oaktree Capital Group LLC (NYSE:OAK) – Analysts at Jefferies Group reduced their Q2 2018 EPS estimates for Oaktree Capital Group in a research report issued to clients and investors on Tuesday. Jefferies Group analyst G. O’hara now anticipates that the asset manager will post earnings per share of $0.86 for the quarter, down from their prior forecast of $0.90. Jefferies Group also issued estimates for Oaktree Capital Group’s Q3 2018 earnings at $0.88 EPS, Q4 2018 earnings at $0.88 EPS and FY2018 earnings at $3.47 EPS.
Oaktree Capital Group (NYSE:OAK) last issued its quarterly earnings data on Tuesday, February 6th. The asset manager reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.17. The business had revenue of $327.40 million for the quarter, compared to analysts’ expectations of $286.45 million. Oaktree Capital Group had a return on equity of 18.06% and a net margin of 15.75%. The company’s revenue for the quarter was down 6.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS.
Shares of Oaktree Capital Group (NYSE OAK) traded down $1.75 on Thursday, hitting $43.90. The stock had a trading volume of 422,434 shares, compared to its average volume of 252,835. The stock has a market cap of $7,162.46, a PE ratio of 12.24, a price-to-earnings-growth ratio of 1.05 and a beta of 0.62. Oaktree Capital Group has a twelve month low of $41.10 and a twelve month high of $48.50. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.37.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 16th will be issued a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 6.92%. The ex-dividend date is Thursday, February 15th. This is a positive change from Oaktree Capital Group’s previous quarterly dividend of $0.56. Oaktree Capital Group’s dividend payout ratio is presently 61.88%.
In related news, major shareholder Organics L.P. Oaktree purchased 3,055,460 shares of the firm’s stock in a transaction that occurred on Friday, December 15th. The shares were bought at an average price of $7.50 per share, for a total transaction of $22,915,950.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ocm Growth Holdings Llc purchased 1,413,922 shares of the firm’s stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average price of $15.00 per share, for a total transaction of $21,208,830.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 4,582,236 shares of company stock worth $44,812,086 in the last 90 days.
A number of institutional investors have recently made changes to their positions in OAK. Burgundy Asset Management Ltd. grew its position in Oaktree Capital Group by 75.9% in the 3rd quarter. Burgundy Asset Management Ltd. now owns 416,310 shares of the asset manager’s stock valued at $19,587,000 after acquiring an additional 179,627 shares during the last quarter. Shelter Mutual Insurance Co bought a new position in Oaktree Capital Group in the 3rd quarter valued at $5,509,000. Steinberg Global Asset Management bought a new position in Oaktree Capital Group in the 3rd quarter valued at $4,186,000. Shelter Ins Retirement Plan bought a new position in Oaktree Capital Group in the 3rd quarter valued at $3,477,000. Finally, Mackenzie Financial Corp grew its position in Oaktree Capital Group by 9.4% in the 3rd quarter. Mackenzie Financial Corp now owns 820,092 shares of the asset manager’s stock valued at $38,585,000 after acquiring an additional 70,421 shares during the last quarter. 22.58% of the stock is currently owned by institutional investors.
About Oaktree Capital Group
Oaktree Capital Group, LLC (Oaktree) is an investment manager specializing in alternative investments. The Company operates through investment management segment, which consists of the investment management services that the Company provides to its clients. The Company manages investments in a range of strategies within approximately six asset classes, which include corporate debt, convertible securities, distressed debt, control investing, real estate and listed equities.
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