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

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

AssetMark Financial Stock Up 0.0 %

Shares of NYSE AMK traded up $0.01 during mid-day trading on Friday, hitting $33.96. The company had a trading volume of 470,625 shares, compared to its average volume of 701,744. The company has a market capitalization of $2.53 billion, a PE ratio of 17.78 and a beta of 1.11. The business’s 50-day simple moving average is $35.19 and its 200 day simple moving average is $30.53. AssetMark Financial has a 1-year low of $22.92 and a 1-year high of $37.54. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. JPMorgan Chase & Co. lowered AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 price target for the company. in a research report on Friday, April 26th. Raymond James increased their target price on AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 11th. 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.