AssetMark Financial (NYSE:AMK) Posts Quarterly Earnings Results, Meets Estimates

AssetMark Financial (NYSE:AMK) released its earnings results on Wednesday. The company reported $0.60 EPS for the quarter, hitting analysts’ consensus estimates of $0.60, Briefing.com reports. AssetMark Financial had a net margin of 19.92% and a return on equity of 13.15%. The company had revenue of $190.27 million for the quarter, compared to analysts’ expectations of $143.91 million. During the same quarter last year, the business earned $0.53 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year.

AssetMark Financial Trading Up 0.0 %

NYSE AMK traded up $0.01 on Friday, hitting $33.96. 404,223 shares of the stock were exchanged, compared to its average volume of 297,267. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.84 and a current ratio of 3.84. The stock has a fifty day moving average price of $35.19 and a two-hundred day moving average price of $30.53. The firm has a market capitalization of $2.53 billion, a P/E ratio of 17.78 and a beta of 1.11. AssetMark Financial has a 52-week low of $22.92 and a 52-week high of $37.54.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on AMK shares. William Blair cut shares of AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th. Raymond James increased their price objective on shares of AssetMark Financial from $39.00 to $41.00 and gave the company a “strong-buy” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. lowered shares of AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, April 26th.

About AssetMark Financial

AssetMark Financial Holdings, Inc, together with its subsidiaries, provides wealth management platform in the United States. It offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology solutions to the financial adviser channel.