Brokerages Anticipate Apollo Global Management LLC Class A (APO) Will Post Quarterly Sales of $677.71 Million

Equities analysts forecast that Apollo Global Management LLC Class A (NYSE:APO) will report sales of $677.71 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Apollo Global Management LLC Class A’s earnings. The lowest sales estimate is $655.00 million and the highest is $700.42 million. Apollo Global Management LLC Class A reported sales of $664.23 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The company is scheduled to announce its next earnings report on Wednesday, November 7th.

On average, analysts expect that Apollo Global Management LLC Class A will report full-year sales of $1.96 billion for the current year, with estimates ranging from $1.81 billion to $2.07 billion. For the next year, analysts forecast that the company will report sales of $2.96 billion, with estimates ranging from $2.72 billion to $3.29 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Apollo Global Management LLC Class A.

Apollo Global Management LLC Class A (NYSE:APO) last posted its quarterly earnings data on Thursday, August 2nd. The financial services provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.27). Apollo Global Management LLC Class A had a return on equity of 48.19% and a net margin of 19.59%. The business had revenue of $449.71 million during the quarter, compared to analysts’ expectations of $608.66 million. During the same period in the prior year, the firm posted $0.46 EPS.

Several research firms have weighed in on APO. Oppenheimer boosted their price objective on Apollo Global Management LLC Class A from $40.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, July 18th. Morgan Stanley boosted their price objective on Apollo Global Management LLC Class A from $41.00 to $42.00 and gave the stock an “overweight” rating in a research report on Thursday, July 12th. Credit Suisse Group boosted their price objective on Apollo Global Management LLC Class A from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, September 21st. ValuEngine raised Apollo Global Management LLC Class A from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Finally, Zacks Investment Research cut Apollo Global Management LLC Class A from a “hold” rating to a “sell” rating in a research report on Tuesday, September 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $39.10.

APO stock traded down $0.63 during midday trading on Friday, hitting $34.93. The company’s stock had a trading volume of 717,400 shares, compared to its average volume of 896,191. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.60. Apollo Global Management LLC Class A has a 1 year low of $28.00 and a 1 year high of $37.35. The stock has a market cap of $7.28 billion, a P/E ratio of 9.78, a P/E/G ratio of 2.51 and a beta of 1.21.

The company also recently declared a quarterly dividend, which was paid on Friday, August 31st. Stockholders of record on Friday, August 17th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Thursday, August 16th. This is a boost from Apollo Global Management LLC Class A’s previous quarterly dividend of $0.38. Apollo Global Management LLC Class A’s dividend payout ratio is currently 48.18%.

In other news, insider Joshua Harris sold 30,381 shares of the company’s stock in a transaction on Monday, August 6th. The stock was sold at an average price of $35.28, for a total transaction of $1,071,841.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Martin Kelly sold 11,500 shares of the company’s stock in a transaction on Wednesday, August 8th. The shares were sold at an average price of $35.66, for a total value of $410,090.00. The disclosure for this sale can be found here. 4.11% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Crabel Capital Management LLC purchased a new stake in Apollo Global Management LLC Class A during the 2nd quarter worth about $19,919,000. Morgan Stanley lifted its holdings in Apollo Global Management LLC Class A by 15.4% during the 2nd quarter. Morgan Stanley now owns 5,536,056 shares of the financial services provider’s stock worth $176,434,000 after purchasing an additional 737,410 shares in the last quarter. FMR LLC lifted its holdings in Apollo Global Management LLC Class A by 39.2% during the 2nd quarter. FMR LLC now owns 11,247,406 shares of the financial services provider’s stock worth $358,455,000 after purchasing an additional 3,164,974 shares in the last quarter. Hillman Co. lifted its holdings in Apollo Global Management LLC Class A by 17.2% during the 2nd quarter. Hillman Co. now owns 677,448 shares of the financial services provider’s stock worth $21,590,000 after purchasing an additional 99,405 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in Apollo Global Management LLC Class A by 131.7% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 20,855 shares of the financial services provider’s stock worth $617,000 after purchasing an additional 11,855 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Apollo Global Management LLC Class A Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Earnings History and Estimates for Apollo Global Management LLC Class A (NYSE:APO)

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