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 $3.33 per share, which beat the Zacks Consensus Estimate of $3.24.
Higher revenues supported earnings.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Affiliated Managers depicted optimistic stance prior to the earnings release. The Zacks Consensus Estimate has moved up over the last 30 days.
Also, Affiliated Managers has a decent earnings surprise history. Before posting the earnings beat in Q2 the company delivered positive surprises in all four trailing quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.6% in the trailing four quarters.
Revenue Came In Lower Than Expected
Affiliated Managers posted revenues of $570.9 million, which marginally lagged the Zacks Consensus Estimate of $571.75 million.
- Net client cash inflows during the reported quarter were $1.8 billion.
- Assets under management were nearly $772.1 billion as of Jun 30, 2017.
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.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Affiliated Managers earnings report!
More Stock News: 8 Companies Verge on Apple-Like Run
Did you miss Apple's 9X stock explosion after they launched their iPhone in 2007? Now 2017 looks to be a pivotal year to get in on another emerging technology expected to rock the market. Demand could soar from almost nothing to $42 billion by 2025. Reports suggest it could save 10 million lives per decade which could in turn save $200 billion in U.S. healthcare costs.
A bonus Zacks Special Report names this breakthrough and the 8 best stocks to exploit it. Like Apple in 2007, these companies are already strong and coiling for potential mega-gains. Click to see them right now >>