Oppenheimer Weighs in on KKR & Co Inc’s Q3 2018 Earnings (KKR)

KKR & Co Inc (NYSE:KKR) – Equities researchers at Oppenheimer lifted their Q3 2018 earnings per share estimates for shares of KKR & Co Inc in a report released on Monday, October 15th. Oppenheimer analyst L. Rudary now forecasts that the asset manager will post earnings of $0.60 per share for the quarter, up from their previous forecast of $0.39. Oppenheimer currently has a “Buy” rating and a $35.00 target price on the stock. Oppenheimer also issued estimates for KKR & Co Inc’s Q4 2018 earnings at $0.43 EPS and FY2018 earnings at $1.80 EPS.

KKR & Co Inc (NYSE:KKR) last issued its quarterly earnings data on Thursday, July 26th. The asset manager reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. KKR & Co Inc had a return on equity of 7.34% and a net margin of 39.10%. The company had revenue of $398.00 million for the quarter, compared to the consensus estimate of $391.74 million. During the same quarter last year, the company earned $0.81 earnings per share. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year.

A number of other equities research analysts have also recently commented on the company. Zacks Investment Research upgraded KKR & Co Inc from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Citigroup increased their price target on KKR & Co Inc from $31.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, July 31st. Bank of America cut KKR & Co Inc from a “buy” rating to a “neutral” rating and set a $28.00 price target for the company. in a research note on Wednesday, October 10th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $35.00 price target on shares of KKR & Co Inc in a research note on Friday, July 27th. Finally, JMP Securities increased their price target on KKR & Co Inc from $27.00 to $33.00 and gave the company an “outperform” rating in a research note on Tuesday, July 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $30.25.

Shares of KKR stock opened at $24.67 on Thursday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.90 and a current ratio of 0.90. KKR & Co Inc has a 1-year low of $18.74 and a 1-year high of $28.73. The stock has a market cap of $14.31 billion, a P/E ratio of 10.59, a P/E/G ratio of 1.41 and a beta of 1.61.

Several large investors have recently made changes to their positions in KKR. BlackRock Inc. raised its stake in shares of KKR & Co Inc by 7.8% in the first quarter. BlackRock Inc. now owns 621,202 shares of the asset manager’s stock worth $12,610,000 after purchasing an additional 45,199 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of KKR & Co Inc by 1.7% in the first quarter. Principal Financial Group Inc. now owns 14,541,128 shares of the asset manager’s stock worth $295,185,000 after purchasing an additional 237,568 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of KKR & Co Inc by 2.7% in the first quarter. The Manufacturers Life Insurance Company now owns 1,274,264 shares of the asset manager’s stock worth $25,867,000 after purchasing an additional 33,890 shares during the last quarter. United Capital Financial Advisers LLC raised its stake in shares of KKR & Co Inc by 9.2% in the first quarter. United Capital Financial Advisers LLC now owns 95,136 shares of the asset manager’s stock worth $1,931,000 after purchasing an additional 8,000 shares during the last quarter. Finally, Verition Fund Management LLC raised its stake in shares of KKR & Co Inc by 16.3% in the first quarter. Verition Fund Management LLC now owns 45,000 shares of the asset manager’s stock worth $914,000 after purchasing an additional 6,300 shares during the last quarter. Hedge funds and other institutional investors own 62.37% of the company’s stock.

In other KKR & Co Inc news, major shareholder Fund Holdings L.P. Kkr sold 1,742,007 shares of the stock in a transaction dated Thursday, August 2nd. The stock was sold at an average price of $38.26, for a total value of $66,649,187.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders acquired 130,656 shares of company stock valued at $1,914,185 and sold 15,225,220 shares valued at $533,613,038.

About KKR & Co Inc

KKR & Co L.P. is a private equity and real estate investment firm specializing in direct and fund of fund investments. It specializes in acquisitions, leveraged buyouts, management buyouts, credit special situations, growth equity, mature, mezzanine, distressed, turnaround, and middle market investments.

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Earnings History and Estimates for KKR & Co Inc (NYSE:KKR)

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