Brokerages forecast that KKR & Co. L.P. (NYSE:KKR) will post $0.10 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for KKR & Co. L.P.’s earnings, with estimates ranging from ($0.10) to $0.22. KKR & Co. L.P. reported earnings of $0.65 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 84.6%. The business is scheduled to issue its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that KKR & Co. L.P. will report full year earnings of $1.99 per share for the current financial year, with EPS estimates ranging from $1.65 to $2.24. For the next year, analysts expect that the company will report earnings of $2.72 per share, with EPS estimates ranging from $2.49 to $2.99. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow KKR & Co. L.P..
KKR & Co. L.P. (NYSE:KKR) last announced its quarterly earnings results on Thursday, February 8th. The asset manager reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.04). The company had revenue of $941.64 million for the quarter, compared to analyst estimates of $367.36 million. KKR & Co. L.P. had a return on equity of 9.34% and a net margin of 30.52%. KKR & Co. L.P.’s revenue for the quarter was up 95.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 earnings per share.
Several brokerages have weighed in on KKR. ValuEngine downgraded KKR & Co. L.P. from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 27th. Zacks Investment Research downgraded KKR & Co. L.P. from a “hold” rating to a “sell” rating in a research report on Thursday, April 12th. Deutsche Bank increased their price target on KKR & Co. L.P. from $22.00 to $23.00 and gave the stock a “hold” rating in a research report on Friday, February 9th. Sandler O’Neill set a $22.00 target price on shares of KKR & Co. L.P. and gave the stock a “hold” rating in a research note on Friday, February 9th. Finally, Bank of America increased their target price on shares of KKR & Co. L.P. from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. KKR & Co. L.P. presently has a consensus rating of “Hold” and an average price target of $25.20.
KKR traded down $0.40 during midday trading on Friday, hitting $20.75. 1,957,424 shares of the company were exchanged, compared to its average volume of 2,979,078. The company has a market capitalization of $10,373.72, a P/E ratio of 8.74, a P/E/G ratio of 0.86 and a beta of 1.58. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.08 and a current ratio of 1.08. KKR & Co. L.P. has a 1-year low of $17.51 and a 1-year high of $24.50.
In related news, major shareholder Holdings L.P. Valueact purchased 450,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average cost of $21.70 per share, with a total value of $9,765,000.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Fund Holdings L.P. Kkr sold 1,444,822 shares of the firm’s stock in a transaction dated Monday, March 26th. The shares were sold at an average price of $31.68, for a total transaction of $45,771,960.96. The disclosure for this sale can be found here.
A number of institutional investors have recently modified their holdings of the stock. Bollard Group LLC lifted its stake in KKR & Co. L.P. by 0.9% in the 4th quarter. Bollard Group LLC now owns 267,732 shares of the asset manager’s stock valued at $5,638,000 after buying an additional 2,302 shares in the last quarter. NewSquare Capital LLC raised its holdings in KKR & Co. L.P. by 3.6% in the 4th quarter. NewSquare Capital LLC now owns 69,871 shares of the asset manager’s stock valued at $1,471,000 after acquiring an additional 2,440 shares during the last quarter. Wasatch Advisors Inc. raised its holdings in KKR & Co. L.P. by 5.5% in the 4th quarter. Wasatch Advisors Inc. now owns 47,894 shares of the asset manager’s stock valued at $1,009,000 after acquiring an additional 2,500 shares during the last quarter. Levin Capital Strategies L.P. raised its holdings in KKR & Co. L.P. by 0.3% in the 4th quarter. Levin Capital Strategies L.P. now owns 860,800 shares of the asset manager’s stock valued at $18,128,000 after acquiring an additional 2,788 shares during the last quarter. Finally, Guinness Asset Management Ltd raised its holdings in KKR & Co. L.P. by 24.7% in the 4th quarter. Guinness Asset Management Ltd now owns 18,200 shares of the asset manager’s stock valued at $383,000 after acquiring an additional 3,600 shares during the last quarter. 68.56% of the stock is currently owned by hedge funds and other institutional investors.
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About KKR & Co. L.P.
KKR & Co L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, and middle market investments.
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