Oppenheimer Weighs in on Apollo Global Management LLC’s FY2020 Earnings (NYSE:APO)

Apollo Global Management LLC (NYSE:APO) – Equities researchers at Oppenheimer reduced their FY2020 EPS estimates for Apollo Global Management in a research report issued on Sunday, November 10th. Oppenheimer analyst C. Kotowski now forecasts that the financial services provider will earn $2.72 per share for the year, down from their previous forecast of $2.77. Oppenheimer has a “Buy” rating and a $47.00 price target on the stock.

Other equities research analysts have also recently issued reports about the company. Barclays restated a “buy” rating and set a $44.00 target price on shares of Apollo Global Management in a research note on Sunday, October 13th. UBS Group upped their target price on Apollo Global Management from $45.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, November 4th. Bank of America upped their target price on Apollo Global Management from $40.00 to $46.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. BMO Capital Markets began coverage on Apollo Global Management in a research note on Monday, October 7th. They set an “outperform” rating and a $52.00 target price for the company. Finally, Zacks Investment Research cut Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $45.25.

Shares of APO stock opened at $43.70 on Wednesday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 1.12. The stock has a market cap of $8.52 billion, a P/E ratio of -208.10, a price-to-earnings-growth ratio of 1.29 and a beta of 1.51. The stock has a 50 day simple moving average of $40.33 and a 200 day simple moving average of $36.03. Apollo Global Management has a 1 year low of $22.63 and a 1 year high of $44.18.

Apollo Global Management (NYSE:APO) last issued its quarterly earnings results on Thursday, October 31st. The financial services provider reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.03). The company had revenue of $401.38 million during the quarter, compared to analyst estimates of $404.24 million. During the same period in the prior year, the business posted $0.83 EPS.

Institutional investors and hedge funds have recently made changes to their positions in the company. Arlington Partners LLC bought a new position in shares of Apollo Global Management in the 2nd quarter valued at $34,000. Heritage Wealth Advisors lifted its stake in shares of Apollo Global Management by 100.0% in the 3rd quarter. Heritage Wealth Advisors now owns 1,000 shares of the financial services provider’s stock valued at $37,000 after acquiring an additional 500 shares during the last quarter. NEXT Financial Group Inc bought a new position in shares of Apollo Global Management in the 2nd quarter valued at $54,000. Boston Partners bought a new position in shares of Apollo Global Management in the 2nd quarter valued at $125,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of Apollo Global Management in the 3rd quarter valued at $163,000. Institutional investors own 72.97% of the company’s stock.

In other news, CFO Martin Kelly sold 4,000 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $39.96, for a total value of $159,840.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 46.90% of the stock is currently owned by corporate insiders.

The firm also recently announced a dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, November 19th. This is a boost from Apollo Global Management’s previous dividend of $0.42. Apollo Global Management’s dividend payout ratio is presently -952.38%.

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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Earnings History and Estimates for Apollo Global Management (NYSE:APO)

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