Zacks: Analysts Anticipate Fortress Investment Group LLC (FIG) Will Post Earnings of $0.25 Per Share

Brokerages expect Fortress Investment Group LLC (NYSE:FIG) to post earnings per share (EPS) of $0.25 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Fortress Investment Group’s earnings. The lowest EPS estimate is $0.23 and the highest is $0.27. Fortress Investment Group reported earnings per share of $0.26 during the same quarter last year, which indicates a negative year over year growth rate of 3.8%. The firm is scheduled to announce its next earnings results on Thursday, July 27th.

On average, analysts expect that Fortress Investment Group will report full-year earnings of $1.00 per share for the current fiscal year, with EPS estimates ranging from $0.93 to $1.08. For the next fiscal year, analysts anticipate that the firm will post earnings of $1.11 per share, with EPS estimates ranging from $1.09 to $1.13. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Fortress Investment Group.

Fortress Investment Group (NYSE:FIG) last issued its quarterly earnings data on Monday, May 8th. The asset manager reported $0.19 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.19. Fortress Investment Group had a net margin of 8.26% and a return on equity of 41.94%. The business had revenue of $232.23 million during the quarter, compared to analysts’ expectations of $258.70 million.

Separately, BidaskClub lowered shares of Fortress Investment Group from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $5.83.

Shares of Fortress Investment Group (FIG) remained flat at $8.00 on Wednesday. The company had a trading volume of 394,174 shares. The firm has a market cap of $1.74 billion, a P/E ratio of 20.67 and a beta of 1.96. The stock’s 50 day moving average price is $8.01 and its 200-day moving average price is $7.54. Fortress Investment Group has a one year low of $4.50 and a one year high of $8.05.

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Hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Fortress Investment Group by 1,616,757.3% in the first quarter. JPMorgan Chase & Co. now owns 12,304,284 shares of the asset manager’s stock valued at $97,819,000 after buying an additional 12,303,523 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Fortress Investment Group by 872.9% in the first quarter. Goldman Sachs Group Inc. now owns 9,802,781 shares of the asset manager’s stock valued at $77,932,000 after buying an additional 8,795,161 shares during the period. Credit Suisse AG raised its position in shares of Fortress Investment Group by 1,146.9% in the first quarter. Credit Suisse AG now owns 8,794,158 shares of the asset manager’s stock valued at $69,914,000 after buying an additional 8,088,872 shares during the period. York Capital Management Global Advisors LLC acquired a new position in shares of Fortress Investment Group during the first quarter valued at approximately $53,719,000. Finally, Bank of America Corp DE raised its position in shares of Fortress Investment Group by 1,599.3% in the first quarter. Bank of America Corp DE now owns 6,504,646 shares of the asset manager’s stock valued at $51,712,000 after buying an additional 6,121,865 shares during the period. Institutional investors own 43.68% of the company’s stock.

About Fortress Investment Group

Fortress Investment Group LLC (Fortress) is an investment management firm. The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle. Its business is to sponsor the formation of, and provide investment management services for, various investment funds, permanent capital vehicles and related managed accounts (the Fortress Funds).

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