Zacks: Analysts Anticipate Artisan Partners Asset Management Inc (NYSE:APAM) Will Post Quarterly Sales of $206.00 Million

Wall Street brokerages predict that Artisan Partners Asset Management Inc (NYSE:APAM) will announce sales of $206.00 million for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Artisan Partners Asset Management’s earnings. The lowest sales estimate is $202.90 million and the highest is $209.10 million. Artisan Partners Asset Management reported sales of $212.80 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 3.2%. The company is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, July 30th.

According to Zacks, analysts expect that Artisan Partners Asset Management will report full-year sales of $800.65 million for the current fiscal year, with estimates ranging from $792.60 million to $808.70 million. For the next financial year, analysts expect that the company will post sales of $876.20 million, with estimates ranging from $850.20 million to $902.20 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last released its quarterly earnings data on Tuesday, July 30th. The asset manager reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. The company had revenue of $200.70 million for the quarter, compared to analyst estimates of $196.99 million. Artisan Partners Asset Management had a return on equity of 172.79% and a net margin of 18.48%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.76 EPS.

APAM has been the topic of several recent research reports. Bank of America set a $25.00 price target on shares of Artisan Partners Asset Management and gave the company a “sell” rating in a report on Tuesday, April 9th. TheStreet raised shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a research report on Monday, April 15th. Citigroup raised shares of Artisan Partners Asset Management from a “sell” rating to a “neutral” rating and set a $25.00 price target for the company in a research report on Monday, April 15th. ValuEngine raised shares of Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 9th. Finally, Zacks Investment Research raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $31.00 price objective on the stock in a research report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $29.80.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Financial Gravity Wealth Inc. purchased a new position in Artisan Partners Asset Management in the second quarter worth about $39,000. Meeder Asset Management Inc. increased its holdings in shares of Artisan Partners Asset Management by 230.6% in the 1st quarter. Meeder Asset Management Inc. now owns 3,065 shares of the asset manager’s stock worth $77,000 after acquiring an additional 2,138 shares during the period. O Shaughnessy Asset Management LLC increased its holdings in shares of Artisan Partners Asset Management by 65.4% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,469 shares of the asset manager’s stock worth $112,000 after acquiring an additional 1,767 shares during the period. Great West Life Assurance Co. Can increased its holdings in shares of Artisan Partners Asset Management by 7.5% in the 4th quarter. Great West Life Assurance Co. Can now owns 7,268 shares of the asset manager’s stock worth $153,000 after acquiring an additional 504 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Artisan Partners Asset Management in the 1st quarter worth about $156,000. Institutional investors and hedge funds own 63.60% of the company’s stock.

APAM traded down $0.02 on Wednesday, hitting $29.59. The company had a trading volume of 542,300 shares, compared to its average volume of 462,736. The firm has a market cap of $2.31 billion, a P/E ratio of 10.06, a PEG ratio of 1.61 and a beta of 1.85. Artisan Partners Asset Management has a 12-month low of $20.16 and a 12-month high of $35.50. The company has a debt-to-equity ratio of 3.30, a quick ratio of 0.54 and a current ratio of 0.54. The company’s fifty day moving average is $27.98.

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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