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Bear Of The Day: Apollo Global Management (APO)

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Apollo Global Management (APO - Free Report) beat the Zacks Consensus Estimate but estimates have fallen and they have taken the Zacks Rank down with it.  APO is the Bear of the Day today as a result of it holding the lowest Zacks Rank. Just about all Bear of the Day stocks are a Zacks Rank #5 (Strong Sell).


Apollo Management operates as an alternative asset manager globally. The Company operates in three business segments: private equity, capital markets and real estate. It raises, invests and manages funds on behalf of pension and endowment funds, as well as other institutional and individual investors. Apollo Management, L.P. is headquartered in New York, New York.

Estimate Revisions

The major reason that stocks fall to a Zacks Rank #5 (Strong Sell) is due to negative earnings estimate revisions.

Over the last 30 days, there have been 4 negative revisions to the current quarter and 3 to the next quarter.  There have been 4 negative revisions to the current year and 2 to next year as well.

There have not been any positive earnings estimate revisions over the last 7, 30 or 60 days.

Zacks Consensus Estimate

The Zacks Consensus Estimate for 2018 was $3.22 60 days ago, but it has been moving lower.  30 days ago it stood at $3.20 and then slipped to $2.81 a week ago.  Now we are looking at $2.27, a fall of nearly $1 per share in earnings estimates.

The 2019 number has seen some up and down movement, with $3.16 as the estimate 90 days ago and then kicking higher to $3.31 60 days ago.  The 2019 number has slid, but not as dramatically, ending up at the current level of $3.26.

Beating The Number

Most of the time I expect a Zacks Rank #5 (Strong Sell) to sport a bad history of missing the Zacks Consensus Estimate.  That is not the case for APO as the company has beat the number in 3 of the last four reports.  They have also produced an average positive surprise of 44%, which is rather significant.


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