AllianceBernstein (NYSE:AB) posted its earnings results on Tuesday. The asset manager reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.19, Bloomberg Earnings reports. The company had revenue of $919.14 million for the quarter, compared to analyst estimates of $839.49 million. AllianceBernstein had a net margin of 6.30% and a return on equity of 14.92%. AllianceBernstein’s revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.67 EPS.
AllianceBernstein (AB) opened at $26.50 on Thursday. AllianceBernstein has a fifty-two week low of $20.40 and a fifty-two week high of $28.00. The company has a market cap of $2,541.77, a P/E ratio of 11.46, a PEG ratio of 1.25 and a beta of 1.51.
AB has been the topic of several recent analyst reports. Citigroup upgraded shares of AllianceBernstein from a “neutral” rating to a “buy” rating and boosted their target price for the company from $26.00 to $31.00 in a report on Thursday, October 26th. ValuEngine lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, Zacks Investment Research lowered shares of AllianceBernstein from a “buy” rating to a “hold” rating in a report on Wednesday, January 17th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the stock. AllianceBernstein has an average rating of “Buy” and an average price target of $28.00.
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AllianceBernstein Company Profile
AllianceBernstein Holding L.P. is engaged in providing research, investment management and related services to a range of clients through its three buy-side distribution channels: Institutions, Retail and Private Wealth Management, and its sell-side business, Bernstein Research Services. The Company offers a range of investment services, including equity strategies, with global and regional portfolios across capitalization ranges and investment strategies, including value, growth and equities; traditional and unconstrained fixed income strategies, including taxable and tax-exempt strategies; passive management, including index and enhanced index strategies; alternative investments, including hedge funds, fund of funds and private equity, and multi-asset solutions and services, including dynamic asset allocation, customized target-date funds and target-risk funds.
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