AllianceBernstein (NYSE:AB – Get Free Report) posted its quarterly earnings results on Thursday. The asset manager reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18, Zacks reports. AllianceBernstein had a return on equity of 16.23% and a net margin of 9.22%.
AllianceBernstein Price Performance
AB stock traded down $3.43 during midday trading on Thursday, reaching $36.46. 2,132,696 shares of the company were exchanged, compared to its average volume of 558,430. AllianceBernstein has a one year low of $30.57 and a one year high of $41.37. The firm has a market capitalization of $4.20 billion, a price-to-earnings ratio of 10.41, a price-to-earnings-growth ratio of 0.81 and a beta of 1.21. The business has a 50-day moving average price of $37.25 and a two-hundred day moving average price of $35.99.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on AB shares. Barclays lowered their target price on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. Evercore ISI upped their target price on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, AllianceBernstein has a consensus rating of “Moderate Buy” and a consensus price target of $42.40.
About AllianceBernstein
AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.
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