Artisan Partners Asset Management Inc (NYSE:APAM) Expected to Announce Quarterly Sales of $176.95 Million

Analysts expect that Artisan Partners Asset Management Inc (NYSE:APAM) will post $176.95 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Artisan Partners Asset Management’s earnings. The lowest sales estimate is $174.90 million and the highest is $179.00 million. Artisan Partners Asset Management posted sales of $200.70 million in the same quarter last year, which suggests a negative year over year growth rate of 11.8%. The firm is scheduled to report its next quarterly earnings report on Tuesday, August 4th.

On average, analysts expect that Artisan Partners Asset Management will report full year sales of $753.45 million for the current financial year, with estimates ranging from $746.10 million to $760.80 million. For the next fiscal year, analysts anticipate that the business will post sales of $788.90 million, with estimates ranging from $779.30 million to $798.50 million. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, April 28th. The asset manager reported $0.66 earnings per share for the quarter, missing the consensus estimate of $0.67 by ($0.01). The firm had revenue of $202.80 million during the quarter, compared to analyst estimates of $205.29 million. Artisan Partners Asset Management had a net margin of 19.61% and a return on equity of 181.49%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.55 earnings per share.

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of Artisan Partners Asset Management from $24.50 to $37.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. ValuEngine lowered shares of Artisan Partners Asset Management from a “sell” rating to a “strong sell” rating in a report on Thursday. Bank of America upped their price objective on shares of Artisan Partners Asset Management from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. TheStreet upgraded shares of Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a report on Wednesday, May 20th. Finally, Keefe, Bruyette & Woods upgraded shares of Artisan Partners Asset Management from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $25.00 to $34.00 in a report on Thursday, April 30th. One equities research analyst has rated the stock with a sell rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $33.40.

Institutional investors have recently added to or reduced their stakes in the business. Vident Investment Advisory LLC acquired a new stake in Artisan Partners Asset Management during the 1st quarter worth approximately $417,000. Asset Management One Co. Ltd. increased its position in shares of Artisan Partners Asset Management by 11.7% in the 1st quarter. Asset Management One Co. Ltd. now owns 21,307 shares of the asset manager’s stock valued at $458,000 after purchasing an additional 2,232 shares during the last quarter. Fifth Third Bancorp purchased a new stake in shares of Artisan Partners Asset Management in the 1st quarter valued at approximately $43,000. APG Asset Management N.V. purchased a new stake in shares of Artisan Partners Asset Management in the 1st quarter valued at approximately $6,589,000. Finally, Rockefeller Capital Management L.P. increased its position in shares of Artisan Partners Asset Management by 4.0% in the 1st quarter. Rockefeller Capital Management L.P. now owns 11,357 shares of the asset manager’s stock valued at $244,000 after purchasing an additional 437 shares during the last quarter. Institutional investors own 64.56% of the company’s stock.

NYSE:APAM traded up $0.31 on Tuesday, hitting $31.89. The stock had a trading volume of 420,026 shares, compared to its average volume of 598,946. The company has a fifty day moving average price of $30.24 and a two-hundred day moving average price of $29.20. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 2.68. Artisan Partners Asset Management has a 1-year low of $17.69 and a 1-year high of $38.09. The stock has a market cap of $2.51 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.56 and a beta of 2.03.

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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