AssetMark Financial (NYSE:AMK) Posts Earnings Results, Meets Estimates

AssetMark Financial (NYSE:AMK) issued its quarterly earnings results on Wednesday. The company reported $0.60 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.60, Briefing.com reports. The business had revenue of $190.27 million for the quarter, compared to the consensus estimate of $143.91 million. AssetMark Financial had a return on equity of 13.15% and a net margin of 19.92%. The business’s quarterly revenue was up 11.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.53 earnings per share.

AssetMark Financial Price Performance

AssetMark Financial stock traded up $0.01 during midday trading on Friday, reaching $33.96. The company had a trading volume of 404,223 shares, compared to its average volume of 297,267. The company has a market capitalization of $2.53 billion, a P/E ratio of 17.78 and a beta of 1.11. AssetMark Financial has a 12-month low of $22.92 and a 12-month high of $37.54. The firm’s fifty day simple moving average is $35.18 and its 200-day simple moving average is $30.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on AMK. Raymond James upped their target price on AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 11th. JPMorgan Chase & Co. downgraded AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research report on Friday, April 26th. Finally, William Blair downgraded AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th.

About AssetMark Financial

AssetMark Financial Holdings, Inc, together with its subsidiaries, provides wealth management platform in the United States. It offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology solutions to the financial adviser channel.