Q3 2016 Earnings Forecast for Affiliated Managers Group Inc. (AMG) Issued By Barrington Research
Affiliated Managers Group Inc. (NYSE:AMG) – Research analysts at Barrington Research raised their Q3 2016 earnings per share (EPS) estimates for shares of Affiliated Managers Group in a research report issued on Thursday. Barrington Research analyst A. Paris. Jr now forecasts that the firm will post earnings of $2.97 per share for the quarter, up from their previous forecast of $2.96. Barrington Research also issued estimates for Affiliated Managers Group’s FY2016 earnings at $12.82 EPS and FY2017 earnings at $15.10 EPS.
Several other equities research analysts have also recently weighed in on AMG. Deutsche Bank AG reissued a “buy” rating on shares of Affiliated Managers Group in a research report on Sunday, July 10th. Jefferies Group reduced their price objective on Affiliated Managers Group from $197.00 to $195.00 and set a “buy” rating for the company in a research report on Monday, July 11th. Zacks Investment Research raised Affiliated Managers Group from a “sell” rating to a “hold” rating in a research report on Thursday, September 1st. Finally, Credit Suisse Group AG set a $212.00 price objective on Affiliated Managers Group and gave the company a “buy” rating in a research report on Wednesday, September 28th. Two research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $179.75.
Shares of Affiliated Managers Group (NYSE:AMG) opened at 146.64 on Monday. The company has a 50-day moving average of $144.93 and a 200 day moving average of $153.47. The firm has a market cap of $7.90 billion, a P/E ratio of 17.05 and a beta of 1.56. Affiliated Managers Group has a 12-month low of $115.97 and a 12-month high of $190.74.
Affiliated Managers Group (NYSE:AMG) last released its quarterly earnings results on Monday, August 1st. The company reported $3.06 EPS for the quarter, topping the consensus estimate of $3.01 by $0.05. The business earned $646.60 million during the quarter, compared to analyst estimates of $565.16 million. Affiliated Managers Group had a net margin of 20.47% and a return on equity of 18.39%. The company’s quarterly revenue was down 14.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.08 earnings per share.
Several hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services Inc acquired a new stake in shares of Affiliated Managers Group during the first quarter worth $449,000. NN Investment Partners Holdings N.V. acquired a new stake in shares of Affiliated Managers Group during the first quarter worth $1,343,000. Bessemer Group Inc. acquired a new stake in shares of Affiliated Managers Group during the first quarter worth $222,000. Royce & Associates LP raised its stake in shares of Affiliated Managers Group by 169.0% in the first quarter. Royce & Associates LP now owns 8,730 shares of the company’s stock worth $1,418,000 after buying an additional 5,485 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Affiliated Managers Group by 17.7% in the first quarter. M&T Bank Corp now owns 13,023 shares of the company’s stock worth $2,114,000 after buying an additional 1,961 shares during the period.
About Affiliated Managers Group
Affiliated Managers Group, Inc is an asset management company with equity investments in boutique investment management firms (Affiliates). The Company is focused on investing in the boutique investment management firms globally, including traditional, alternative and wealth management firms, specializing in an array of active return-oriented investment strategies.
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