Brokerages Anticipate GCM Grosvenor Inc. (NASDAQ:GCMG) to Post $0.12 Earnings Per Share

Equities research analysts expect GCM Grosvenor Inc. (NASDAQ:GCMG) to report $0.12 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for GCM Grosvenor’s earnings. The lowest EPS estimate is $0.12 and the highest is $0.13. The company is expected to issue its next earnings results on Tuesday, November 9th.

According to Zacks, analysts expect that GCM Grosvenor will report full-year earnings of $0.57 per share for the current year, with EPS estimates ranging from $0.55 to $0.59. For the next year, analysts forecast that the company will report earnings of $0.72 per share, with EPS estimates ranging from $0.71 to $0.75. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover GCM Grosvenor.

GCM Grosvenor (NASDAQ:GCMG) last announced its quarterly earnings results on Tuesday, August 10th. The company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $119.70 million during the quarter, compared to analyst estimates of $102.96 million.

Several equities research analysts have recently weighed in on GCMG shares. Oppenheimer started coverage on GCM Grosvenor in a research note on Tuesday, August 31st. They issued an “outperform” rating and a $14.00 price objective on the stock. Zacks Investment Research upgraded GCM Grosvenor from a “hold” rating to a “buy” rating and set a $13.00 price objective on the stock in a research note on Monday.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Penserra Capital Management LLC boosted its holdings in shares of GCM Grosvenor by 40.3% in the 2nd quarter. Penserra Capital Management LLC now owns 7,812 shares of the company’s stock worth $81,000 after acquiring an additional 2,242 shares in the last quarter. Ameritas Investment Partners Inc. acquired a new position in GCM Grosvenor during the 2nd quarter worth $27,000. Legal & General Group Plc acquired a new position in GCM Grosvenor during the 2nd quarter worth $35,000. Pinz Capital Management LP acquired a new position in GCM Grosvenor during the 2nd quarter worth $86,000. Finally, Taylor Frigon Capital Management LLC lifted its holdings in GCM Grosvenor by 10.2% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 101,263 shares of the company’s stock worth $1,055,000 after buying an additional 9,407 shares in the last quarter. 21.50% of the stock is currently owned by institutional investors and hedge funds.

GCMG traded up $0.05 on Wednesday, hitting $11.63. 5,106 shares of the stock traded hands, compared to its average volume of 608,874. GCM Grosvenor has a 52 week low of $9.00 and a 52 week high of $15.36. The firm has a market capitalization of $2.17 billion, a PE ratio of 23.63 and a beta of 0.06. The business has a fifty day moving average price of $10.74 and a two-hundred day moving average price of $11.55.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st will be issued a $0.09 dividend. This is an increase from GCM Grosvenor’s previous quarterly dividend of $0.08. This represents a $0.36 annualized dividend and a dividend yield of 3.10%. The ex-dividend date is Tuesday, August 31st. GCM Grosvenor’s payout ratio is presently 73.47%.

About GCM Grosvenor

GCM Grosvenor, Inc provides global alternative asset management solutions. The firm invests on behalf of clients who seek allocations to alternative investments, such as private equity, infrastructure, real estate, credit, and absolute return strategies. It specializes in developing customized portfolios for clients who want an active role in the development of their alternatives programs and also offers multi-client portfolios for investors who desire a turn-key solution for accessing alternative investments.

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Earnings History and Estimates for GCM Grosvenor (NASDAQ:GCMG)

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