Brokerages Expect Apollo Global Management LLC (APO) to Announce $0.70 Earnings Per Share

Brokerages expect Apollo Global Management LLC (NYSE:APO) to post $0.70 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Apollo Global Management’s earnings, with the lowest EPS estimate coming in at $0.58 and the highest estimate coming in at $0.85. Apollo Global Management posted earnings per share of $0.82 during the same quarter last year, which would indicate a negative year-over-year growth rate of 14.6%. The business is expected to issue its next quarterly earnings results on Friday, April 27th.

According to Zacks, analysts expect that Apollo Global Management will report full year earnings of $3.10 per share for the current financial year, with EPS estimates ranging from $2.75 to $3.68. For the next fiscal year, analysts expect that the business will post earnings of $3.31 per share, with EPS estimates ranging from $2.95 to $3.72. Zacks’ EPS averages are an average based on a survey of sell-side research firms that follow Apollo Global Management.

Apollo Global Management (NYSE:APO) last released its quarterly earnings data on Thursday, February 1st. The financial services provider reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.55. The company had revenue of $869.50 million for the quarter, compared to the consensus estimate of $599.38 million. Apollo Global Management had a return on equity of 66.33% and a net margin of 23.92%. The company’s quarterly revenue was up 26.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.98 earnings per share.

A number of research firms have weighed in on APO. Zacks Investment Research raised Apollo Global Management from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Monday, February 5th. Credit Suisse Group boosted their target price on Apollo Global Management from $38.00 to $39.00 and gave the stock a “neutral” rating in a report on Monday, February 5th. ValuEngine raised Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $43.00 target price on shares of Apollo Global Management in a report on Thursday, February 1st. Finally, Citigroup downgraded Apollo Global Management from a “buy” rating to a “neutral” rating and set a $38.00 target price on the stock. in a report on Friday, January 19th. Three analysts have rated the stock with a hold rating, nine have issued a buy rating and two have given a strong buy rating to the stock. Apollo Global Management currently has an average rating of “Buy” and a consensus price target of $36.33.

In related news, CFO Martin Kelly sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $32.68, for a total value of $163,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joshua Harris sold 4,500,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $34.00, for a total transaction of $153,000,000.00. The disclosure for this sale can be found here. Insiders sold a total of 4,520,000 shares of company stock worth $153,677,150 over the last three months. 4.11% of the stock is owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Pinnacle Holdings LLC raised its position in Apollo Global Management by 496.1% in the 4th quarter. Pinnacle Holdings LLC now owns 3,785 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 3,150 shares during the last quarter. Stelac Advisory Services LLC bought a new position in Apollo Global Management in the 3rd quarter worth approximately $117,000. Camarda Financial Advisors LLC bought a new position in Apollo Global Management in the 4th quarter worth approximately $186,000. Moors & Cabot Inc. bought a new position in Apollo Global Management in the 4th quarter worth approximately $200,000. Finally, Waratah Capital Advisors Ltd. bought a new position in Apollo Global Management in the 4th quarter worth approximately $203,000. Hedge funds and other institutional investors own 71.41% of the company’s stock.

Apollo Global Management (NYSE:APO) traded up $0.71 during midday trading on Friday, reaching $34.28. The company’s stock had a trading volume of 880,446 shares, compared to its average volume of 1,140,000. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $6,630.00, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 0.96 and a beta of 1.03. Apollo Global Management has a 12 month low of $21.39 and a 12 month high of $37.35.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 28th. Stockholders of record on Wednesday, February 21st will be issued a $0.66 dividend. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.39. This represents a $2.64 annualized dividend and a dividend yield of 7.70%. The ex-dividend date of this dividend is Tuesday, February 20th. Apollo Global Management’s payout ratio is presently 50.81%.

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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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