Oppenheimer Brokers Reduce Earnings Estimates for Apollo Global Management LLC (NYSE:APO)

Apollo Global Management LLC (NYSE:APO) – Research analysts at Oppenheimer cut their FY2020 EPS estimates for shares of Apollo Global Management in a note issued to investors on Sunday, November 10th. Oppenheimer analyst C. Kotowski now anticipates that the financial services provider will earn $2.72 per share for the year, down from their previous forecast of $2.77. Oppenheimer has a “Buy” rating and a $47.00 price objective on the stock.

Several other equities analysts have also recently issued reports on the stock. Credit Suisse Group reissued an “outperform” rating and issued a $54.00 price objective (up from $45.00) on shares of Apollo Global Management in a research note on Tuesday, November 5th. Barclays reissued a “buy” rating and issued a $44.00 price objective on shares of Apollo Global Management in a research note on Sunday, October 13th. Wells Fargo & Co boosted their price objective on shares of Apollo Global Management from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Thursday, September 12th. Bank of America boosted their target price on shares of Apollo Global Management from $40.00 to $46.00 and gave the stock a “buy” rating in a research report on Monday, September 23rd. Finally, BMO Capital Markets assumed coverage on shares of Apollo Global Management in a research report on Monday, October 7th. They set an “outperform” rating and a $52.00 target price on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Apollo Global Management currently has a consensus rating of “Buy” and an average price target of $45.25.

Shares of APO opened at $43.17 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a market capitalization of $8.49 billion, a P/E ratio of -205.57, a P/E/G ratio of 1.28 and a beta of 1.51. The company’s fifty day moving average is $40.27 and its two-hundred day moving average is $35.97. Apollo Global Management has a 1 year low of $22.63 and a 1 year high of $44.18.

Apollo Global Management (NYSE:APO) last announced its earnings results on Thursday, October 31st. The financial services provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.03). The firm had revenue of $401.38 million for the quarter, compared to analyst estimates of $404.24 million. During the same quarter last year, the firm earned $0.83 earnings per share.

The business also recently announced a dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 20th will be given a dividend of $0.50 per share. This is a positive change from Apollo Global Management’s previous dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 19th. Apollo Global Management’s payout ratio is presently -952.38%.

In other Apollo Global Management news, CFO Martin Kelly sold 4,000 shares of the business’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $39.96, for a total transaction of $159,840.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 46.90% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in APO. Janus Henderson Group PLC boosted its position in shares of Apollo Global Management by 387.3% in the 2nd quarter. Janus Henderson Group PLC now owns 3,675,355 shares of the financial services provider’s stock worth $126,065,000 after buying an additional 2,921,103 shares in the last quarter. Invesco Ltd. boosted its position in shares of Apollo Global Management by 755.9% in the 2nd quarter. Invesco Ltd. now owns 1,708,708 shares of the financial services provider’s stock worth $58,609,000 after buying an additional 1,509,059 shares in the last quarter. Morgan Stanley boosted its position in shares of Apollo Global Management by 19.6% in the 2nd quarter. Morgan Stanley now owns 8,166,139 shares of the financial services provider’s stock worth $280,099,000 after buying an additional 1,338,115 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Apollo Global Management by 461.1% in the 2nd quarter. Wells Fargo & Company MN now owns 1,012,332 shares of the financial services provider’s stock worth $34,723,000 after buying an additional 831,898 shares in the last quarter. Finally, GVO Asset Management Ltd purchased a new stake in shares of Apollo Global Management in the 3rd quarter worth about $22,877,000. Institutional investors and hedge funds own 72.97% of the company’s stock.

About Apollo Global Management

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Earnings History and Estimates for Apollo Global Management (NYSE:APO)

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