FY2018 EPS Estimates for Apollo Global Management, LLC Boosted by Oppenheimer Holdings (NYSE:APO)
Apollo Global Management, LLC (NYSE:APO) – Research analysts at Oppenheimer Holdings increased their FY2018 earnings per share estimates for shares of Apollo Global Management in a note issued to investors on Friday. Oppenheimer Holdings analyst C. Kotowski now expects that the financial services provider will earn $2.82 per share for the year, up from their previous estimate of $2.81. Oppenheimer Holdings currently has a “Outperform” rating and a $33.00 price objective on the stock.
Several other brokerages have also commented on APO. Jefferies Group LLC reissued a “buy” rating on shares of Apollo Global Management in a research note on Friday, June 30th. Zacks Investment Research raised Apollo Global Management from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Monday, April 10th. Goldman Sachs Group, Inc. (The) boosted their price target on Apollo Global Management from $30.00 to $32.00 and gave the stock a “buy” rating in a research note on Wednesday, June 7th. BidaskClub lowered Apollo Global Management from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 27th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $33.00 price target on shares of Apollo Global Management in a research note on Friday. Four research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Apollo Global Management currently has a consensus rating of “Buy” and a consensus price target of $26.91.
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Apollo Global Management (NYSE APO) opened at 27.26 on Monday. The firm has a market cap of $5.21 billion, a PE ratio of 8.96 and a beta of 1.22. Apollo Global Management has a one year low of $15.64 and a one year high of $28.42. The firm’s 50 day moving average price is $27.18 and its 200-day moving average price is $23.97.
Apollo Global Management (NYSE:APO) last announced its earnings results on Friday, April 28th. The financial services provider reported $0.82 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.19. Apollo Global Management had a return on equity of 72.89% and a net margin of 23.30%. The business had revenue of $641.55 million during the quarter, compared to analysts’ expectations of $570.83 million. During the same quarter in the prior year, the firm earned ($0.18) earnings per share. The business’s revenue was up 431.0% compared to the same quarter last year.
In other Apollo Global Management news, major shareholder Tiger Global Management Llc purchased 376,225 shares of the business’s stock in a transaction on Tuesday, April 18th. The stock was bought at an average cost of $25.60 per share, for a total transaction of $9,631,360.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Martin Kelly sold 10,000 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $26.77, for a total value of $267,700.00. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 5,438,513 shares of company stock valued at $144,066,414 and sold 1,260,000 shares valued at $33,537,989. Insiders own 4.11% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new position in shares of Apollo Global Management during the fourth quarter valued at $297,000. Quadrature Capital Ltd acquired a new position in shares of Apollo Global Management during the fourth quarter valued at $448,000. High Point Bank & Trust Co. acquired a new position in shares of Apollo Global Management during the fourth quarter valued at $465,000. SOL Capital Management CO increased its position in shares of Apollo Global Management by 4.8% in the first quarter. SOL Capital Management CO now owns 43,600 shares of the financial services provider’s stock valued at $1,060,000 after buying an additional 2,000 shares during the period. Finally, DnB Asset Management AS increased its position in shares of Apollo Global Management by 73.2% in the first quarter. DnB Asset Management AS now owns 108,800 shares of the financial services provider’s stock valued at $2,646,000 after buying an additional 46,000 shares during the period. Institutional investors own 75.75% of the company’s stock.
About Apollo Global Management
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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