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Have you been eager to see how Affiliated Managers Group Inc. (AMG - Free Report) performed in Q1 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 $3.21 per share, which beat the Zacks Consensus Estimate of $3.17.
The quarter witnessed slightly lower revenues as compared to the prior year quarter and higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Affiliated Managers depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last 7 days.
Notably, Affiliated Managers has a decent earnings surprise history. Before posting the earnings beat in Q1 the company delivered positive surprises in three of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.3% in the trailing four quarters.
Affiliated Managers Group, Inc. Price and EPS Surprise
Affiliated Managers posted revenues of $544.3 million, which lagged the Zacks Consensus Estimate of $550.7 million. Also, it compared unfavorably with the year-ago number of $545.4 million.
Key Statistics
Net client cash outflows during the quarter were $1.3 billion.
Assets under management were nearly $753.5 billion as of Mar 31, 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.
Check back later for our full write up on this Affiliated Managers earnings report!
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Affiliated Managers' (AMG) Q1 Earnings Beat Expectations
Have you been eager to see how Affiliated Managers Group Inc. (AMG - Free Report) performed in Q1 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 $3.21 per share, which beat the Zacks Consensus Estimate of $3.17.
The quarter witnessed slightly lower revenues as compared to the prior year quarter and higher expenses.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Affiliated Managers depicted neutral stance prior to the earnings release. The Zacks Consensus Estimate remained stable over the last 7 days.
Notably, Affiliated Managers has a decent earnings surprise history. Before posting the earnings beat in Q1 the company delivered positive surprises in three of the prior four quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.3% in the trailing four quarters.
Affiliated Managers Group, Inc. Price and EPS Surprise
Affiliated Managers Group, Inc. Price and EPS Surprise | Affiliated Managers Group, Inc. Quote
Revenue Came In Lower Than Expected
Affiliated Managers posted revenues of $544.3 million, which lagged the Zacks Consensus Estimate of $550.7 million. Also, it compared unfavorably with the year-ago number of $545.4 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.
(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!
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors. Click here for Zacks' secret trade>>