Brightsphere Investment Group (NYSE:BSIG) issued its quarterly earnings results on Thursday. The company reported $0.45 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.45, Briefing.com reports. Brightsphere Investment Group had a return on equity of 187.25% and a net margin of 14.88%. The business had revenue of $207.10 million during the quarter, compared to the consensus estimate of $211.13 million. During the same period in the previous year, the business earned $0.47 EPS. The business’s quarterly revenue was down 11.5% on a year-over-year basis.
BSIG traded down $0.25 during trading on Friday, reaching $9.74. 562,356 shares of the company were exchanged, compared to its average volume of 553,393. The firm has a market capitalization of $1.00 billion and a PE ratio of 5.24. The business’s 50 day moving average price is $11.20. The company has a debt-to-equity ratio of 3.62, a quick ratio of 0.63 and a current ratio of 0.63. Brightsphere Investment Group has a 52 week low of $9.51 and a 52 week high of $14.87.
A number of equities research analysts have recently weighed in on the company. Citigroup lowered their price target on Brightsphere Investment Group from $15.00 to $12.50 and set a “neutral” rating for the company in a report on Tuesday, July 9th. Morgan Stanley lowered their price target on Brightsphere Investment Group from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Friday. Royal Bank of Canada set a $17.00 price target on Brightsphere Investment Group and gave the company a “buy” rating in a report on Friday, May 3rd. Zacks Investment Research downgraded Brightsphere Investment Group from a “hold” rating to a “sell” rating in a report on Wednesday, July 10th. Finally, Bank of America downgraded Brightsphere Investment Group from a “buy” rating to an “underperform” rating in a report on Friday, April 12th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $13.90.
BrightSphere Investment Group plc is a publically owned asset management holding company. The firm provides its services to individuals and institutions. It manages separate client focused portfolios through its subsidiaries. The firm also launches equity mutual funds for its clients. It invests in public equity, fixed income, and alternative investment markets through its subsidiaries.
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