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

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

AssetMark Financial Stock Up 0.0 %

Shares of AMK traded up $0.01 during midday trading on Friday, reaching $33.96. 404,223 shares of the company were exchanged, compared to its average volume of 297,267. AssetMark Financial has a 1-year low of $22.92 and a 1-year high of $37.54. The stock has a 50-day moving average price of $35.19 and a 200-day moving average price of $30.53. The company has a current ratio of 3.84, a quick ratio of 3.84 and a debt-to-equity ratio of 0.07. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 17.78 and a beta of 1.11.

Analysts Set New Price Targets

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

AssetMark Financial Company Profile

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.