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Affiliated Managers (AMG) Surges 3.6%: Is This an Indication of Further Gains?
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Affiliated Managers Group (AMG - Free Report) shares soared 3.6% in the last trading session to close at $160.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.1% loss over the past four weeks.
After three trading sessions of ending the red, the shares of Affiliated Managers rallied yesterday. As the stock market volatility is driving investors toward safe havens, the inflows are expected to rise across the asset management industry. As a leading asset manager, AMG stock attracted strong investor interest.
This asset manager is expected to post quarterly earnings of $5.13 per share in its upcoming report, which represents a year-over-year change of -4.5%. Revenues are expected to be $532.98 million, up 6.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Affiliated Managers, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AMG going forward to see if this recent jump can turn into more strength down the road.
Affiliated Managers is part of the Zacks Financial - Investment Management industry. Apollo Global Management Inc. (APO - Free Report) , another stock in the same industry, closed the last trading session 3.5% higher at $130.42. APO has returned -22.3% in the past month.
For Apollo Global Management, the consensus EPS estimate for the upcoming report has changed -0.4% over the past month to $1.95. This represents a change of +13.4% from what the company reported a year ago. Apollo Global Management currently has a Zacks Rank of #3 (Hold).
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Affiliated Managers (AMG) Surges 3.6%: Is This an Indication of Further Gains?
Affiliated Managers Group (AMG - Free Report) shares soared 3.6% in the last trading session to close at $160.22. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 12.1% loss over the past four weeks.
After three trading sessions of ending the red, the shares of Affiliated Managers rallied yesterday. As the stock market volatility is driving investors toward safe havens, the inflows are expected to rise across the asset management industry. As a leading asset manager, AMG stock attracted strong investor interest.
This asset manager is expected to post quarterly earnings of $5.13 per share in its upcoming report, which represents a year-over-year change of -4.5%. Revenues are expected to be $532.98 million, up 6.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Affiliated Managers, the consensus EPS estimate for the quarter has been revised marginally higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on AMG going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Affiliated Managers is part of the Zacks Financial - Investment Management industry. Apollo Global Management Inc. (APO - Free Report) , another stock in the same industry, closed the last trading session 3.5% higher at $130.42. APO has returned -22.3% in the past month.
For Apollo Global Management, the consensus EPS estimate for the upcoming report has changed -0.4% over the past month to $1.95. This represents a change of +13.4% from what the company reported a year ago. Apollo Global Management currently has a Zacks Rank of #3 (Hold).