Research Analysts Issue Forecasts for Oaktree Capital Group LLC’s FY2019 Earnings (OAK)
Oaktree Capital Group LLC (NYSE:OAK) – Analysts at Jefferies Group increased their FY2019 earnings estimates for Oaktree Capital Group in a report issued on Tuesday. Jefferies Group analyst G. O’hara now expects that the asset manager will post earnings of $3.90 per share for the year, up from their previous forecast of $3.78.
Oaktree Capital Group (NYSE:OAK) last issued its earnings results on Tuesday, February 6th. The asset manager reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.17. Oaktree Capital Group had a return on equity of 18.06% and a net margin of 15.75%. The firm had revenue of $327.40 million for the quarter, compared to the consensus estimate of $286.45 million. During the same quarter in the previous year, the company posted $0.91 earnings per share. The business’s quarterly revenue was down 6.8% compared to the same quarter last year.
Shares of Oaktree Capital Group (NYSE:OAK) traded down $0.20 during midday trading on Friday, reaching $42.80. The company’s stock had a trading volume of 684,142 shares, compared to its average volume of 310,441. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.37. Oaktree Capital Group has a 1 year low of $41.10 and a 1 year high of $48.50. The stock has a market capitalization of $6,670.00, a P/E ratio of 11.82, a P/E/G ratio of 1.07 and a beta of 0.62.
Several large investors have recently made changes to their positions in OAK. PNC Financial Services Group Inc. lifted its position in shares of Oaktree Capital Group by 38.0% in the second quarter. PNC Financial Services Group Inc. now owns 14,902 shares of the asset manager’s stock worth $695,000 after buying an additional 4,104 shares during the last quarter. California Public Employees Retirement System lifted its position in shares of Oaktree Capital Group by 2.5% in the second quarter. California Public Employees Retirement System now owns 73,700 shares of the asset manager’s stock worth $3,434,000 after buying an additional 1,800 shares during the last quarter. M&T Bank Corp acquired a new stake in shares of Oaktree Capital Group in the second quarter worth about $209,000. Virtu KCG Holdings LLC acquired a new stake in shares of Oaktree Capital Group in the second quarter worth about $265,000. Finally, HighTower Advisors LLC lifted its position in shares of Oaktree Capital Group by 2.6% in the second quarter. HighTower Advisors LLC now owns 20,088 shares of the asset manager’s stock worth $938,000 after buying an additional 517 shares during the last quarter. 22.58% of the stock is owned by institutional investors.
In related news, major shareholder Organics L.P. Oaktree purchased 3,055,460 shares of Oaktree Capital Group stock in a transaction on Friday, December 15th. The stock was bought at an average price of $7.50 per share, with a total value of $22,915,950.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Oaktree Capital Management Lp purchased 28,800 shares of Oaktree Capital Group stock in a transaction on Wednesday, December 13th. The stock was bought at an average cost of $8.63 per share, with a total value of $248,544.00. The disclosure for this purchase can be found here. Insiders acquired 4,582,236 shares of company stock valued at $44,812,086 in the last ninety days.
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 16th will be given a $0.76 dividend. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $3.04 dividend on an annualized basis and a dividend yield of 7.10%. This is a boost from Oaktree Capital Group’s previous quarterly dividend of $0.56. Oaktree Capital Group’s payout ratio is currently 61.88%.
Oaktree Capital Group Company Profile
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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