Victory Capital (NASDAQ:VCTR) Posts Quarterly Earnings Results, Misses Estimates By $0.14 EPS

Victory Capital (NASDAQ:VCTR) announced its earnings results on Wednesday. The company reported $1.85 earnings per share for the quarter, missing the consensus estimate of $1.99 by ($0.14), FiscalAI reports. The business had revenue of $396.57 million for the quarter, compared to the consensus estimate of $411.23 million. Victory Capital had a net margin of 29.57% and a return on equity of 24.17%.

Victory Capital Stock Performance

VCTR traded up $4.44 during trading on Wednesday, reaching $120.19. 650,602 shares of the company’s stock were exchanged, compared to its average volume of 587,512. The business has a 50 day moving average price of $110.89 and a 200 day moving average price of $89.59. The company has a market capitalization of $7.39 billion, a P/E ratio of 22.09, a PEG ratio of 0.53 and a beta of 1.12. Victory Capital has a fifty-two week low of $57.03 and a fifty-two week high of $123.55. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.41.

Analyst Upgrades and Downgrades

VCTR has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price target on Victory Capital from $100.00 to $117.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Barclays raised their price objective on shares of Victory Capital from $112.00 to $121.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 14th. UBS Group set a $117.00 target price on shares of Victory Capital in a research note on Friday, August 28th. JPMorgan Chase & Co. upped their price objective on shares of Victory Capital from $101.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, October 16th. Finally, Morgan Stanley increased their target price on shares of Victory Capital from $115.00 to $119.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $118.67.

About Victory Capital

Victory Capital Holdings, Inc is a global investment management company headquartered in San Antonio, Texas. The company provides investment solutions to individual investors, financial professionals, institutions, retirement plans and other organizations through a range of investment strategies and distribution channels.

Its products and services include mutual funds, exchange-traded funds, separately managed accounts, model portfolios, collective investment trusts and customized institutional mandates.