Wall Street analysts expect that Manning and Napier Inc (NYSE:MN) will report $0.14 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Manning and Napier’s earnings. The highest EPS estimate is $0.16 and the lowest is $0.13. Manning and Napier reported earnings of $0.18 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 22.2%. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, May 3rd.
On average, analysts expect that Manning and Napier will report full-year earnings of $0.56 per share for the current year, with EPS estimates ranging from $0.52 to $0.60. For the next fiscal year, analysts anticipate that the company will post earnings of $0.50 per share, with EPS estimates ranging from $0.45 to $0.55. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for Manning and Napier.
Manning and Napier (NYSE:MN) last announced its earnings results on Thursday, February 9th. The asset manager reported $0.16 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.16. Manning and Napier had a return on equity of 38.85% and a net margin of 3.64%. The firm had revenue of $59.10 million for the quarter, compared to the consensus estimate of $61.20 million. During the same period in the previous year, the business earned $0.20 EPS. The firm’s revenue for the quarter was down 15.6% on a year-over-year basis.
MN has been the subject of several recent research reports. Zacks Investment Research upgraded shares of Manning and Napier from a “sell” rating to a “hold” rating in a research note on Wednesday, December 28th. Needham & Company LLC reiterated a “hold” rating on shares of Manning and Napier in a research note on Monday, February 13th. Finally, Keefe, Bruyette & Woods reiterated a “sell” rating and set a $6.00 target price on shares of Manning and Napier in a research note on Monday, April 10th.
A number of large investors have recently made changes to their positions in MN. Russell Investments Group Ltd. purchased a new stake in shares of Manning and Napier during the fourth quarter worth approximately $350,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in shares of Manning and Napier during the third quarter worth approximately $288,000. Acadian Asset Management LLC increased its stake in shares of Manning and Napier by 2,121.2% in the third quarter. Acadian Asset Management LLC now owns 26,743 shares of the asset manager’s stock worth $190,000 after buying an additional 25,539 shares during the last quarter. Lombardia Capital Partners LLC increased its stake in shares of Manning and Napier by 82.0% in the third quarter. Lombardia Capital Partners LLC now owns 38,384 shares of the asset manager’s stock worth $272,000 after buying an additional 17,291 shares during the last quarter. Finally, Wedgewood Partners Inc. increased its stake in shares of Manning and Napier by 29.7% in the third quarter. Wedgewood Partners Inc. now owns 44,250 shares of the asset manager’s stock worth $313,000 after buying an additional 10,125 shares during the last quarter. Hedge funds and other institutional investors own 74.68% of the company’s stock.
Shares of Manning and Napier (NYSE:MN) traded down 1.79% on Friday, reaching $5.50. The company had a trading volume of 160,677 shares. The firm has a market capitalization of $82.40 million, a PE ratio of 8.87 and a beta of 1.37. Manning and Napier has a 12 month low of $5.20 and a 12 month high of $10.34. The firm’s 50 day moving average is $5.73 and its 200 day moving average is $6.86.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Friday, April 14th will be given a $0.08 dividend. The ex-dividend date is Tuesday, April 11th. This represents a $0.32 dividend on an annualized basis and a yield of 5.82%. Manning and Napier’s payout ratio is currently 104.92%.
About Manning and Napier
Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds, as well as a range of consultative services.
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