Affiliated Managers Group (NYSE:AMG) Updates Q2 Earnings Guidance

Affiliated Managers Group (NYSE:AMG) updated its second quarter earnings guidance on Monday. The company provided earnings per share guidance of $4.50-$4.60 for the period, compared to the consensus earnings per share estimate of $4.86.

Wall Street Analysts Forecast Growth

Separately, Barrington Research upped their price target on Affiliated Managers Group from $175.00 to $190.00 and gave the company an outperform rating in a report on Tuesday, April 9th.

Affiliated Managers Group Stock Performance

Affiliated Managers Group stock opened at $160.35 on Monday. The stock has a fifty day moving average of $161.52 and a 200 day moving average of $149.55. The stock has a market cap of $5.20 billion, a PE ratio of 9.24, a price-to-earnings-growth ratio of 0.56 and a beta of 1.31. Affiliated Managers Group has a one year low of $120.22 and a one year high of $169.65.

Affiliated Managers Group (NYSE:AMG) last issued its quarterly earnings results on Monday, February 5th. The asset manager reported $6.86 EPS for the quarter, topping analysts’ consensus estimates of $6.03 by $0.83. The business had revenue of $502.70 million during the quarter, compared to analysts’ expectations of $524.98 million. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The business’s quarterly revenue was down 6.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $7.28 earnings per share. As a group, sell-side analysts predict that Affiliated Managers Group will post 22.03 EPS for the current fiscal year.

Affiliated Managers Group Company Profile

Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.