Brokerages Anticipate Oaktree Capital Group LLC (OAK) Will Announce Quarterly Sales of $297.02 Million
Equities analysts predict that Oaktree Capital Group LLC (NYSE:OAK) will report sales of $297.02 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Oaktree Capital Group’s earnings, with the lowest sales estimate coming in at $266.00 million and the highest estimate coming in at $329.95 million. Oaktree Capital Group posted sales of $351.44 million in the same quarter last year, which suggests a negative year over year growth rate of 15.5%. The firm is expected to report its next earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that Oaktree Capital Group will report full-year sales of $297.02 million for the current fiscal year, with estimates ranging from $1.67 billion to $1.70 billion. For the next year, analysts forecast that the business will post sales of $1.62 billion per share, with estimates ranging from $1.58 billion to $1.66 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Oaktree Capital Group.
Oaktree Capital Group (NYSE:OAK) last issued its quarterly earnings results on Thursday, October 26th. The asset manager reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.11. Oaktree Capital Group had a return on equity of 18.88% and a net margin of 19.04%. The company had revenue of $304.80 million for the quarter, compared to analyst estimates of $281.61 million. During the same quarter in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year.
OAK has been the topic of several research reports. TheStreet lowered Oaktree Capital Group from a “b-” rating to a “c+” rating in a research report on Friday, November 17th. Zacks Investment Research lowered Oaktree Capital Group from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $49.50.
Shares of Oaktree Capital Group (OAK) traded down $0.05 during trading on Monday, hitting $41.70. The company’s stock had a trading volume of 287,900 shares, compared to its average volume of 224,967. Oaktree Capital Group has a one year low of $36.95 and a one year high of $48.50. The stock has a market cap of $6,514.17, a price-to-earnings ratio of 10.00, a PEG ratio of 0.86 and a beta of 0.57. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.37.
In other Oaktree Capital Group news, major shareholder Oaktree Capital Management Lp bought 28,800 shares of the stock in a transaction dated Wednesday, December 13th. The stock was bought at an average cost of $8.63 per share, for a total transaction of $248,544.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ocm Growth Holdings Llc bought 1,413,922 shares of the stock in a transaction dated Friday, December 8th. The shares were acquired at an average price of $15.00 per share, with a total value of $21,208,830.00. The disclosure for this purchase can be found here.
Institutional investors have recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. acquired a new position in Oaktree Capital Group in the second quarter worth about $110,000. Stelac Advisory Services LLC acquired a new position in Oaktree Capital Group in the third quarter worth about $113,000. Penserra Capital Management LLC grew its stake in Oaktree Capital Group by 10.0% in the second quarter. Penserra Capital Management LLC now owns 2,471 shares of the asset manager’s stock worth $115,000 after purchasing an additional 224 shares in the last quarter. US Bancorp DE grew its stake in Oaktree Capital Group by 59.2% in the second quarter. US Bancorp DE now owns 3,025 shares of the asset manager’s stock worth $141,000 after purchasing an additional 1,125 shares in the last quarter. Finally, IFP Advisors Inc grew its stake in Oaktree Capital Group by 698.4% in the third quarter. IFP Advisors Inc now owns 3,545 shares of the asset manager’s stock worth $167,000 after purchasing an additional 3,101 shares in the last quarter. Institutional investors own 22.60% of the company’s stock.
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About Oaktree Capital Group
Oaktree Capital Group, LLC (Oaktree) is an investment manager specializing in alternative investments. The Company operates through investment management segment, which consists of the investment management services that the Company provides to its clients. The Company manages investments in a range of strategies within approximately six asset classes, which include corporate debt, convertible securities, distressed debt, control investing, real estate and listed equities.
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