Have you been eager to see how Affiliated Managers Group Inc. (AMG - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Massachusetts-based global asset management company’s earnings release this morning:
An Earnings Beat
Affiliated Managers came out with economic earnings of $3.06 per share, which beat the Zacks Consensus Estimate of $3.01.
Lower operating expenses mainly drove the earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Affiliated Managers depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved nearly 2% down over the last 30 days.
However, Affiliated Managers has a decent earnings surprise history.
Before posting the earnings beat in Q2 the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1% in the trailing four quarters.
Revenue Came In Lower Than Expected
Affiliated Managers posted revenues of $554.1 million, which missed the Zacks Consensus Estimate of $558.5 million. Moreover, it compared unfavorably with the year-ago number of $646.6 million.
Key Statistics
- Net client cash inflows during the reported quarter were $0.6 billion.
- Assets under management were nearly $647.6 billion as of Jun 30, 2016.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Affiliated Managers. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Affiliated Managers earnings report!
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Have you been eager to see how Affiliated Managers Group Inc. (AMG - Free Report) performed in Q2 in comparison with the market expectations? Let’s quickly scan through the key facts from this Massachusetts-based global asset management company’s earnings release this morning:
An Earnings Beat
Affiliated Managers came out with economic earnings of $3.06 per share, which beat the Zacks Consensus Estimate of $3.01.
Lower operating expenses mainly drove the earnings beat.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Affiliated Managers depicted pessimism prior to the earnings release. The Zacks Consensus Estimate has moved nearly 2% down over the last 30 days.
However, Affiliated Managers has a decent earnings surprise history.
Before posting the earnings beat in Q2 the company delivered positive surprises in three of the prior four quarters. Overall, the company surpassed the Zacks Consensus Estimate by an average of 1% in the trailing four quarters.
Revenue Came In Lower Than Expected
Affiliated Managers posted revenues of $554.1 million, which missed the Zacks Consensus Estimate of $558.5 million. Moreover, it compared unfavorably with the year-ago number of $646.6 million.
Key Statistics
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Affiliated Managers. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Affiliated Managers earnings report!
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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