Artisan Partners Asset Management (NYSE:APAM) Releases Quarterly Earnings Results, Beats Expectations By $0.01 EPS

by · The Cerbat Gem

Artisan Partners Asset Management (NYSE:APAM – Get Free Report) issued its quarterly earnings results on Tuesday. The asset manager reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.01, Briefing.com reports. Artisan Partners Asset Management had a net margin of 22.75% and a return on equity of 71.76%. The business had revenue of $279.60 million during the quarter, compared to analyst estimates of $279.70 million. During the same quarter last year, the business posted $0.75 earnings per share. Artisan Partners Asset Management’s revenue for the quarter was up 12.4% compared to the same quarter last year.

Artisan Partners Asset Management Stock Up 3.2 %

Shares of NYSE APAM traded up $1.40 during mid-day trading on Wednesday, reaching $44.96. 265,058 shares of the company’s stock were exchanged, compared to its average volume of 443,579. Artisan Partners Asset Management has a twelve month low of $32.32 and a twelve month high of $47.08. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.54. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 13.68 and a beta of 1.79. The business has a fifty day simple moving average of $42.48 and a 200 day simple moving average of $42.22.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on APAM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $50.00 price target on shares of Artisan Partners Asset Management in a research note on Monday, July 29th. The Goldman Sachs Group reduced their target price on shares of Artisan Partners Asset Management from $40.00 to $39.50 and set a “sell” rating on the stock in a research note on Thursday, October 3rd. StockNews.com raised shares of Artisan Partners Asset Management from a “hold” rating to a “buy” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen raised their price objective on shares of Artisan Partners Asset Management from $38.00 to $39.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $42.83.

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Artisan Partners Asset Management Company Profile

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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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