AssetMark Financial (NYSE:AMK) Issues Earnings Results, Meets Expectations

AssetMark Financial (NYSE:AMK) announced its quarterly earnings results on Wednesday. The company reported $0.60 earnings per share for the quarter, meeting the consensus estimate of $0.60, Briefing.com reports. AssetMark Financial had a return on equity of 13.15% and a net margin of 19.92%. The firm had revenue of $190.27 million for the quarter, compared to analysts’ expectations of $143.91 million. During the same period in the prior year, the business posted $0.53 earnings per share. The company’s revenue was up 11.7% on a year-over-year basis.

AssetMark Financial Stock Performance

NYSE:AMK traded up $0.01 during trading hours on Friday, hitting $33.96. 404,223 shares of the company were exchanged, compared to its average volume of 297,267. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 17.77 and a beta of 1.11. AssetMark Financial has a 52-week low of $22.92 and a 52-week high of $37.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84. The company’s 50 day moving average price is $35.18 and its 200-day moving average price is $30.46.

Analyst Ratings Changes

Several equities analysts have recently issued reports on AMK shares. William Blair lowered AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th. Raymond James boosted their price target on AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. downgraded AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, April 26th.

About AssetMark Financial

AssetMark Financial Holdings, Inc, together with its subsidiaries, provides wealth management platform in the United States. It offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology solutions to the financial adviser channel.