Apollo Global Management LLC (NYSE:APO) Expected to Announce Earnings of $0.46 Per Share

Analysts expect Apollo Global Management LLC (NYSE:APO) to report earnings per share of $0.46 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Apollo Global Management’s earnings. The highest EPS estimate is $0.53 and the lowest is $0.39. Apollo Global Management reported earnings of $0.56 per share in the same quarter last year, which would indicate a negative year over year growth rate of 17.9%. The business is expected to announce its next earnings results on Wednesday, July 29th.

According to Zacks, analysts expect that Apollo Global Management will report full year earnings of $1.86 per share for the current financial year, with EPS estimates ranging from $1.63 to $2.01. For the next financial year, analysts forecast that the firm will report earnings of $2.50 per share, with EPS estimates ranging from $2.03 to $2.81. Zacks’ earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for Apollo Global Management.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Friday, May 1st. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.11). The firm had revenue of $433.57 million for the quarter, compared to analyst estimates of $412.13 million. Apollo Global Management had a net margin of 31.68% and a return on equity of 40.34%. During the same period in the previous year, the business posted $0.67 EPS.

A number of analysts recently issued reports on the company. Cfra lifted their price objective on Apollo Global Management from $43.00 to $48.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. Wells Fargo & Co boosted their price target on Apollo Global Management from $44.00 to $48.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Morgan Stanley boosted their price target on Apollo Global Management from $39.00 to $42.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Oppenheimer reaffirmed a “hold” rating on shares of Apollo Global Management in a research report on Monday, May 4th. Finally, Jefferies Financial Group boosted their price target on Apollo Global Management from $44.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Ten investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Apollo Global Management presently has a consensus rating of “Hold” and a consensus price target of $53.38.

APO traded up $0.65 during trading on Tuesday, reaching $48.25. 1,792,900 shares of the stock traded hands, compared to its average volume of 2,675,211. The stock has a market cap of $11.19 billion, a price-to-earnings ratio of -35.05, a price-to-earnings-growth ratio of 1.50 and a beta of 1.64. Apollo Global Management has a fifty-two week low of $19.46 and a fifty-two week high of $52.67. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.10 and a quick ratio of 1.10. The stock’s 50-day simple moving average is $41.54 and its two-hundred day simple moving average is $42.84.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 29th. Stockholders of record on Monday, May 18th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, May 15th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 3.48%. Apollo Global Management’s payout ratio is presently 61.99%.

In related news, COO Anthony Civale sold 4,121 shares of the business’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $48.17, for a total transaction of $198,508.57. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael E. Ducey purchased 2,185 shares of the stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average price of $26.99 per share, for a total transaction of $58,973.15. The disclosure for this purchase can be found here. Insiders sold 1,725,340 shares of company stock worth $74,037,496 over the last quarter. 46.90% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors increased its stake in Apollo Global Management by 10.8% during the fourth quarter. Capital World Investors now owns 11,791,587 shares of the financial services provider’s stock valued at $562,577,000 after acquiring an additional 1,149,536 shares during the period. Invesco Ltd. increased its stake in Apollo Global Management by 52.0% during the first quarter. Invesco Ltd. now owns 8,664,347 shares of the financial services provider’s stock valued at $290,255,000 after acquiring an additional 2,963,477 shares during the period. Clearbridge Investments LLC increased its stake in Apollo Global Management by 8.0% during the first quarter. Clearbridge Investments LLC now owns 7,202,814 shares of the financial services provider’s stock valued at $241,294,000 after acquiring an additional 530,633 shares during the period. BlackRock Inc. increased its stake in Apollo Global Management by 13.8% during the first quarter. BlackRock Inc. now owns 4,663,917 shares of the financial services provider’s stock valued at $156,241,000 after acquiring an additional 566,447 shares during the period. Finally, Capital International Investors increased its stake in Apollo Global Management by 121.8% during the first quarter. Capital International Investors now owns 4,620,443 shares of the financial services provider’s stock valued at $154,785,000 after acquiring an additional 2,537,443 shares during the period. Hedge funds and other institutional investors own 70.28% of the company’s stock.

Apollo Global Management Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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