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Affiliated Managers (AMG) Beats Q2 Earnings as Revenues Rise
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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 $3.61 per share, which beat the Zacks Consensus Estimate of $3.59.
Higher revenues supported earnings.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Affiliated Managers depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate moved 1.9% downward over the last 30 days.
However, Affiliated Managers has a decent earnings surprise history. Before posting the earnings beat in Q2 the company delivered positive surprises in each of four trailing quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 2% in the trailing four quarters.
Affiliated Managers Group, Inc. Price and EPS Surprise
Affiliated Managers posted revenues of $600.1 million, which surpassed the Zacks Consensus Estimate of $597.7 million.
Key Q2 Statistics
Operating expenses were $407.6 million
Net client cash inflows during the reported quarter were $4.3 billion.
Assets under management were nearly $824.2 billion as of Jun 30, 2018.
Repurchased $150 million worth of stock
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) 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!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
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Affiliated Managers (AMG) Beats Q2 Earnings as Revenues Rise
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 $3.61 per share, which beat the Zacks Consensus Estimate of $3.59.
Higher revenues supported earnings.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Affiliated Managers depicted pessimistic stance prior to the earnings release. The Zacks Consensus Estimate moved 1.9% downward over the last 30 days.
However, Affiliated Managers has a decent earnings surprise history. Before posting the earnings beat in Q2 the company delivered positive surprises in each of four trailing quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 2% 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 Higher Than Expected
Affiliated Managers posted revenues of $600.1 million, which surpassed the Zacks Consensus Estimate of $597.7 million.
Key Q2 Statistics
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #4 (Sell) 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!
Wall Street’s Next Amazon
Zacks EVP Kevin Matras believes this familiar stock has only just begun its climb to become one of the greatest investments of all time. It’s a once-in-a-generation opportunity to invest in pure genius.
Click for details >>