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Bear Of The Day: Apollo Global Management (APO)

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Apollo Global Management (APO - Free Report) is a Zacks Rank #5 (Strong Sell) and today it is the Bear of the Day.   Let's take a look at how this stock became a Zacks Rank #5 (Strong Sell) and where it could be headed

Description

Apollo Management, L.P. 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.

Recent Earnings

On October 31, the company reported earnings that missed estimates.  I see EPS of $0.81 coming in $0.05 below of the Zacks Consensus Estimate for a 5.8% negative earnings surprise.

This was the third straight miss of the Zacks Consensus Estimate, as the company reported misses of 48% and 650% in previous reports.

Estimates

Following the recent miss, I see the Zacks Consensus Estimate for2018 moving from $1.35 to $1.14.  That downward movement is what the Zacks Rank is looking for and why the stock slipped to a Zacks Rank #5 (Strong Sell)

The 2019 Zacks Consensus Estimate moved from $3.13 to $2.90.  

I also wanted to point out that there is some solid implied earnings growth. Just because a stock is a Zacks Rank #5 (Strong Sell) doesn't mean there are good things to see too!

Chart

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