Oaktree Capital Management (OAK) Expected to Announce Earnings of $0.53 Per Share

Analysts predict that Oaktree Capital Management (NYSE:OAK) will announce $0.53 earnings per share (EPS) for the current quarter, Zacks reports. Four analysts have made estimates for Oaktree Capital Management’s earnings, with estimates ranging from $0.39 to $0.61. Oaktree Capital Management posted earnings per share of $1.73 in the same quarter last year, which would indicate a negative year-over-year growth rate of 69.4%. The firm is expected to announce its next earnings report on Thursday, July 26th.

On average, analysts expect that Oaktree Capital Management will report full year earnings of $3.08 per share for the current fiscal year, with EPS estimates ranging from $2.72 to $3.58. For the next financial year, analysts forecast that the business will report earnings of $3.64 per share, with EPS estimates ranging from $3.20 to $4.21. Zacks’ EPS averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Oaktree Capital Management.

Oaktree Capital Management (NYSE:OAK) last issued its earnings results on Thursday, April 26th. The asset manager reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.70 by $0.23. Oaktree Capital Management had a return on equity of 12.90% and a net margin of 15.11%. The company had revenue of $451.20 million during the quarter, compared to the consensus estimate of $331.82 million. During the same period in the previous year, the firm posted $0.86 earnings per share. Oaktree Capital Management’s quarterly revenue was up 15.3% compared to the same quarter last year.

A number of equities analysts have commented on the company. ValuEngine downgraded Oaktree Capital Management from a “buy” rating to a “hold” rating in a research note on Thursday, February 15th. Zacks Investment Research downgraded Oaktree Capital Management from a “hold” rating to a “sell” rating in a research note on Tuesday, February 13th. Morgan Stanley decreased their target price on Oaktree Capital Management from $60.00 to $57.00 and set an “overweight” rating for the company in a research note on Thursday, March 1st. Keefe, Bruyette & Woods downgraded Oaktree Capital Management from an “outperform” rating to a “market perform” rating in a research note on Friday, April 27th. Finally, Deutsche Bank decreased their target price on Oaktree Capital Management from $44.00 to $42.00 and set a “hold” rating for the company in a research note on Friday, April 6th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $49.40.

In other Oaktree Capital Management news, major shareholder Oaktree Capital Management Lp purchased 23,700 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were bought at an average price of $7.72 per share, with a total value of $182,964.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Oaktree Capital Group Holdings sold 1,821,377 shares of Oaktree Capital Management stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $20.15, for a total value of $36,700,746.55. The disclosure for this sale can be found here. In the last ninety days, insiders have bought 338,273 shares of company stock worth $2,271,905.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oak Grove Capital LLC bought a new stake in shares of Oaktree Capital Management during the fourth quarter valued at approximately $3,513,000. Mackenzie Financial Corp raised its holdings in Oaktree Capital Management by 45.1% during the fourth quarter. Mackenzie Financial Corp now owns 1,189,792 shares of the asset manager’s stock worth $50,090,000 after purchasing an additional 369,700 shares in the last quarter. Sterneck Capital Management LLC bought a new stake in Oaktree Capital Management during the fourth quarter worth approximately $211,000. Two Sigma Securities LLC bought a new stake in Oaktree Capital Management during the fourth quarter worth approximately $556,000. Finally, Steinberg Global Asset Management raised its holdings in Oaktree Capital Management by 5.4% during the fourth quarter. Steinberg Global Asset Management now owns 93,789 shares of the asset manager’s stock worth $3,949,000 after purchasing an additional 4,828 shares in the last quarter. 23.19% of the stock is currently owned by institutional investors.

Shares of Oaktree Capital Management opened at $39.90 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of 2.40, a current ratio of 1.85 and a quick ratio of 1.85. Oaktree Capital Management has a 52 week low of $39.45 and a 52 week high of $39.65. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 0.86 and a beta of 0.69.

The firm also recently declared a quarterly dividend, which was paid on Friday, May 11th. Stockholders of record on Monday, May 7th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 9.62%. The ex-dividend date was Friday, May 4th. This is a boost from Oaktree Capital Management’s previous quarterly dividend of $0.76. Oaktree Capital Management’s payout ratio is 96.73%.

About Oaktree Capital Management

Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. It manage investments in a number of strategies within six asset classes, including distressed debt; corporate debt, including high yield debt and senior loans; control investing; convertible securities; real estate; and listed equities.

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Earnings History and Estimates for Oaktree Capital Management (NYSE:OAK)

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