Zacks: Analysts Anticipate Artisan Partners Asset Management Inc (NYSE:APAM) Will Post Quarterly Sales of $206.40 Million

Equities analysts expect Artisan Partners Asset Management Inc (NYSE:APAM) to announce $206.40 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Artisan Partners Asset Management’s earnings, with the highest sales estimate coming in at $207.40 million and the lowest estimate coming in at $205.40 million. Artisan Partners Asset Management posted sales of $212.80 million during the same quarter last year, which suggests a negative year over year growth rate of 3%. The business is expected to announce its next quarterly earnings report on Tuesday, October 29th.

On average, analysts expect that Artisan Partners Asset Management will report full year sales of $803.85 million for the current financial year, with estimates ranging from $800.30 million to $807.40 million. For the next fiscal year, analysts expect that the business will post sales of $877.10 million, with estimates ranging from $856.40 million to $897.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last released its earnings results on Tuesday, July 30th. The asset manager reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Artisan Partners Asset Management had a return on equity of 169.94% and a net margin of 18.40%. The business had revenue of $200.70 million for the quarter, compared to analyst estimates of $196.99 million. During the same quarter last year, the firm posted $0.76 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year.

Separately, Zacks Investment Research upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $31.00 target price on the stock in a research note on Wednesday, July 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $28.75.

Hedge funds have recently added to or reduced their stakes in the business. Kayne Anderson Rudnick Investment Management LLC grew its holdings in Artisan Partners Asset Management by 6.3% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,794,599 shares of the asset manager’s stock valued at $104,428,000 after purchasing an additional 225,045 shares during the period. BlackRock Inc. boosted its stake in Artisan Partners Asset Management by 0.5% in the second quarter. BlackRock Inc. now owns 3,604,619 shares of the asset manager’s stock valued at $99,200,000 after acquiring an additional 19,485 shares during the period. Renaissance Technologies LLC boosted its stake in Artisan Partners Asset Management by 30.8% in the second quarter. Renaissance Technologies LLC now owns 3,063,415 shares of the asset manager’s stock valued at $84,305,000 after acquiring an additional 720,503 shares during the period. Wells Fargo & Company MN boosted its stake in Artisan Partners Asset Management by 3.4% in the first quarter. Wells Fargo & Company MN now owns 2,298,375 shares of the asset manager’s stock valued at $57,850,000 after acquiring an additional 75,415 shares during the period. Finally, Clarkston Capital Partners LLC boosted its stake in Artisan Partners Asset Management by 0.6% in the second quarter. Clarkston Capital Partners LLC now owns 2,133,835 shares of the asset manager’s stock valued at $58,723,000 after acquiring an additional 13,340 shares during the period. Institutional investors and hedge funds own 64.28% of the company’s stock.

APAM stock traded down $0.96 during midday trading on Friday, reaching $26.05. The company’s stock had a trading volume of 194,490 shares, compared to its average volume of 446,880. The company has a debt-to-equity ratio of 2.84, a quick ratio of 0.56 and a current ratio of 0.56. The stock has a fifty day simple moving average of $28.09 and a two-hundred day simple moving average of $26.70. Artisan Partners Asset Management has a 1 year low of $20.16 and a 1 year high of $33.90. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 1.43 and a beta of 1.84.

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.60 dividend. This is a positive change from Artisan Partners Asset Management’s previous quarterly dividend of $0.55. The ex-dividend date is Thursday, August 15th. This represents a $2.40 dividend on an annualized basis and a yield of 9.21%. Artisan Partners Asset Management’s dividend payout ratio (DPR) is presently 81.63%.

Artisan Partners Asset Management Company Profile

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.

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Earnings History and Estimates for Artisan Partners Asset Management (NYSE:APAM)

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