Zacks: Brokerages Anticipate Artisan Partners Asset (APAM) Will Post Quarterly Sales of $209.35 Million

Wall Street analysts predict that Artisan Partners Asset (NYSE:APAM) will announce $209.35 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Artisan Partners Asset’s earnings. The highest sales estimate is $210.70 million and the lowest is $208.00 million. Artisan Partners Asset reported sales of $184.10 million in the same quarter last year, which would suggest a positive year over year growth rate of 13.7%. The firm is expected to announce its next earnings report on Thursday, April 26th.

On average, analysts expect that Artisan Partners Asset will report full-year sales of $860.65 million for the current fiscal year, with estimates ranging from $858.60 million to $862.70 million. For the next year, analysts forecast that the business will post sales of $926.35 million per share, with estimates ranging from $909.80 million to $942.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Artisan Partners Asset.

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Artisan Partners Asset (NYSE:APAM) last posted its quarterly earnings results on Tuesday, February 6th. The asset manager reported $0.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.02). Artisan Partners Asset had a return on equity of 119.11% and a net margin of 6.23%. The business had revenue of $210.70 million during the quarter, compared to the consensus estimate of $211.23 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. The company’s revenue for the quarter was up 16.1% compared to the same quarter last year.

APAM has been the topic of several recent research reports. Zacks Investment Research raised Artisan Partners Asset from a “hold” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Tuesday, February 27th. Royal Bank of Canada set a $46.00 price objective on Artisan Partners Asset and gave the stock a “buy” rating in a report on Wednesday, February 7th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $40.00 price objective on shares of Artisan Partners Asset in a report on Friday, December 22nd. Finally, Bank of America decreased their price objective on Artisan Partners Asset from $38.00 to $36.00 and set an “underperform” rating on the stock in a report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $38.60.

Several institutional investors and hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. raised its holdings in shares of Artisan Partners Asset by 13.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 24,882 shares of the asset manager’s stock worth $983,000 after acquiring an additional 2,946 shares in the last quarter. We Are One Seven LLC purchased a new stake in Artisan Partners Asset during the 4th quarter valued at $232,000. MetLife Investment Advisors LLC purchased a new stake in Artisan Partners Asset during the 4th quarter valued at $833,000. Vident Investment Advisory LLC raised its holdings in Artisan Partners Asset by 8.5% during the 4th quarter. Vident Investment Advisory LLC now owns 85,605 shares of the asset manager’s stock valued at $3,382,000 after buying an additional 6,723 shares during the period. Finally, Teachers Advisors LLC raised its holdings in Artisan Partners Asset by 6.1% during the 4th quarter. Teachers Advisors LLC now owns 471,400 shares of the asset manager’s stock valued at $18,620,000 after buying an additional 26,963 shares during the period. 64.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of APAM traded down $0.15 during mid-day trading on Friday, hitting $33.40. 339,379 shares of the stock were exchanged, compared to its average volume of 434,846. The stock has a market capitalization of $2,529.25, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 0.85 and a beta of 1.72. Artisan Partners Asset has a 52-week low of $27.23 and a 52-week high of $41.45. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.63 and a quick ratio of 0.63.

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About Artisan Partners Asset

Artisan Partners Asset Management Inc is publicly owned investment manager. It provides its services to pension and profit sharing plans, trusts, endowments, foundations, charitable organizations, government entities, private funds and non-U.S. funds, as well as mutual funds, non-U.S. funds and collective trusts.

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Earnings History and Estimates for Artisan Partners Asset (NYSE:APAM)

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