Artisan Partners Asset (APAM) Expected to Announce Quarterly Sales of $209.85 Million

Wall Street brokerages expect Artisan Partners Asset (NYSE:APAM) to announce $209.85 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Artisan Partners Asset’s earnings, with the lowest sales estimate coming in at $209.10 million and the highest estimate coming in at $210.60 million. Artisan Partners Asset posted sales of $196.20 million during the same quarter last year, which suggests a positive year over year growth rate of 7%. The firm is scheduled to announce its next earnings results on Monday, July 30th.

On average, analysts expect that Artisan Partners Asset will report full year sales of $855.40 million for the current financial year, with estimates ranging from $848.10 million to $862.70 million. For the next year, analysts expect that the firm will report sales of $912.90 million per share, with estimates ranging from $882.90 million to $942.90 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Artisan Partners Asset.

Artisan Partners Asset (NYSE:APAM) last announced its quarterly earnings results on Tuesday, May 1st. The asset manager reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.05. The company had revenue of $212.00 million during the quarter, compared to the consensus estimate of $211.75 million. Artisan Partners Asset had a net margin of 8.63% and a return on equity of 160.18%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.52 earnings per share.

APAM has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Artisan Partners Asset from a “hold” rating to a “strong sell” rating in a research report on Monday, March 26th. Bank of America reduced their price target on shares of Artisan Partners Asset from $38.00 to $36.00 and set an “underperform” rating for the company in a research report on Thursday, February 8th. Royal Bank of Canada set a $46.00 price target on shares of Artisan Partners Asset and gave the company a “buy” rating in a research report on Wednesday, February 7th. Finally, TheStreet downgraded shares of Artisan Partners Asset from a “b-” rating to a “c+” rating in a research report on Thursday, April 26th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Artisan Partners Asset has a consensus rating of “Hold” and an average target price of $38.60.

A number of hedge funds have recently modified their holdings of the stock. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Artisan Partners Asset by 5.6% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 4,828,265 shares of the asset manager’s stock worth $160,782,000 after purchasing an additional 256,591 shares during the last quarter. BlackRock Inc. boosted its holdings in Artisan Partners Asset by 1.7% in the fourth quarter. BlackRock Inc. now owns 2,942,573 shares of the asset manager’s stock worth $116,232,000 after purchasing an additional 48,159 shares during the last quarter. Atlanta Capital Management Co. L L C boosted its holdings in Artisan Partners Asset by 3.9% in the fourth quarter. Atlanta Capital Management Co. L L C now owns 2,472,096 shares of the asset manager’s stock worth $97,648,000 after purchasing an additional 92,895 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Artisan Partners Asset by 7.6% in the first quarter. Wells Fargo & Company MN now owns 2,333,873 shares of the asset manager’s stock worth $77,719,000 after purchasing an additional 164,698 shares during the last quarter. Finally, Channing Capital Management LLC boosted its holdings in Artisan Partners Asset by 16.2% in the fourth quarter. Channing Capital Management LLC now owns 2,033,289 shares of the asset manager’s stock worth $80,315,000 after purchasing an additional 284,025 shares during the last quarter. Institutional investors own 64.28% of the company’s stock.

Shares of APAM opened at $32.70 on Friday. The company has a market cap of $2.52 billion, a P/E ratio of 13.57, a PEG ratio of 0.84 and a beta of 1.74. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 2.01. Artisan Partners Asset has a twelve month low of $32.35 and a twelve month high of $32.65.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 31st. Investors of record on Thursday, May 17th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 7.34%. The ex-dividend date is Wednesday, May 16th. Artisan Partners Asset’s dividend payout ratio is currently 99.59%.

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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