$196.75 Million in Sales Expected for Artisan Partners Asset Management Inc (NYSE:APAM) This Quarter

Wall Street brokerages expect Artisan Partners Asset Management Inc (NYSE:APAM) to announce $196.75 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Artisan Partners Asset Management’s earnings. The lowest sales estimate is $196.00 million and the highest is $197.50 million. Artisan Partners Asset Management posted sales of $212.30 million in the same quarter last year, which suggests a negative year-over-year growth rate of 7.3%. The company is expected to announce its next quarterly earnings report on Tuesday, July 30th.

According to Zacks, analysts expect that Artisan Partners Asset Management will report full-year sales of $792.90 million for the current fiscal year, with estimates ranging from $792.60 million to $793.20 million. For the next fiscal year, analysts forecast that the company will post sales of $862.50 million, with estimates ranging from $850.20 million to $874.80 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Artisan Partners Asset Management.

Artisan Partners Asset Management (NYSE:APAM) last posted its earnings results on Tuesday, April 30th. The asset manager reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $187.00 million for the quarter, compared to analyst estimates of $186.26 million. Artisan Partners Asset Management had a return on equity of 172.79% and a net margin of 18.48%. Artisan Partners Asset Management’s revenue for the quarter was down 11.8% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share.

Several analysts recently commented on the company. TheStreet raised Artisan Partners Asset Management from a “c+” rating to a “b-” rating in a report on Monday, April 15th. Citigroup upgraded Artisan Partners Asset Management from a “sell” rating to a “neutral” rating and set a $25.00 price target on the stock in a research report on Monday, April 15th. Bank of America set a $25.00 price target on Artisan Partners Asset Management and gave the stock a “sell” rating in a research report on Tuesday, April 9th. Zacks Investment Research upgraded Artisan Partners Asset Management from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, April 9th. Finally, ValuEngine upgraded Artisan Partners Asset Management from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $29.60.

Artisan Partners Asset Management stock traded up $0.24 during midday trading on Friday, hitting $26.24. 312,212 shares of the company were exchanged, compared to its average volume of 404,502. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 8.93, a price-to-earnings-growth ratio of 1.44 and a beta of 1.80. Artisan Partners Asset Management has a fifty-two week low of $20.16 and a fifty-two week high of $35.50. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 3.30.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Friday, May 17th were given a dividend of $0.55 per share. The ex-dividend date was Thursday, May 16th. This represents a $2.20 dividend on an annualized basis and a yield of 8.38%. Artisan Partners Asset Management’s dividend payout ratio is currently 74.83%.

A number of hedge funds have recently modified their holdings of the business. Comerica Bank lifted its position in shares of Artisan Partners Asset Management by 15.2% in the fourth quarter. Comerica Bank now owns 11,801 shares of the asset manager’s stock valued at $270,000 after acquiring an additional 1,556 shares in the last quarter. Segall Bryant & Hamill LLC lifted its position in shares of Artisan Partners Asset Management by 44.8% in the fourth quarter. Segall Bryant & Hamill LLC now owns 412,800 shares of the asset manager’s stock valued at $9,127,000 after acquiring an additional 127,731 shares in the last quarter. River & Mercantile Asset Management LLP purchased a new position in shares of Artisan Partners Asset Management in the fourth quarter valued at approximately $4,342,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Artisan Partners Asset Management in the first quarter valued at approximately $316,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Artisan Partners Asset Management by 2.3% in the fourth quarter. Bank of New York Mellon Corp now owns 729,959 shares of the asset manager’s stock valued at $16,139,000 after acquiring an additional 16,398 shares in the last quarter. Institutional investors own 62.46% of the company’s stock.

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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