Equities analysts forecast that Apollo Global Management LLC (NYSE:APO) will post $586.33 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Apollo Global Management’s earnings, with estimates ranging from $573.00 million to $599.66 million. Apollo Global Management posted sales of $643.55 million in the same quarter last year, which would indicate a negative year over year growth rate of 8.9%. The business is scheduled to issue its next earnings results on Friday, April 27th.
According to Zacks, analysts expect that Apollo Global Management will report full-year sales of $586.33 million for the current year, with estimates ranging from $2.54 billion to $3.06 billion. For the next year, analysts forecast that the company will report sales of $2.99 billion per share, with estimates ranging from $2.71 billion to $3.27 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Apollo Global Management.
Apollo Global Management (NYSE:APO) last posted its earnings results on Thursday, February 1st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.55. Apollo Global Management had a return on equity of 62.94% and a net margin of 23.92%. The firm had revenue of $869.50 million during the quarter, compared to analysts’ expectations of $599.38 million. During the same period in the previous year, the firm earned $0.98 earnings per share. The company’s revenue was up 26.9% on a year-over-year basis.
A number of research firms have issued reports on APO. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $43.00 target price on shares of Apollo Global Management in a research note on Thursday, February 1st. ValuEngine raised Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Zacks Investment Research cut Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Citigroup cut Apollo Global Management from a “buy” rating to a “neutral” rating and set a $38.00 price objective for the company. in a research report on Friday, January 19th. Finally, Credit Suisse Group upped their price objective on Apollo Global Management from $38.00 to $39.00 and gave the stock a “neutral” rating in a research report on Monday, February 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $36.75.
NYSE:APO traded down $0.59 on Tuesday, reaching $29.62. The company’s stock had a trading volume of 603,776 shares, compared to its average volume of 821,967. Apollo Global Management has a 1-year low of $24.83 and a 1-year high of $37.35. The company has a current ratio of 2.26, a quick ratio of 2.26 and a debt-to-equity ratio of 0.52. The stock has a market cap of $5,969.50, a price-to-earnings ratio of 8.30, a PEG ratio of 0.88 and a beta of 1.19.
In related news, major shareholder Tiger Global Management Llc purchased 100,000 shares of Apollo Global Management stock in a transaction that occurred on Friday, March 23rd. The stock was purchased at an average cost of $30.34 per share, with a total value of $3,034,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pauline Richards purchased 1,280 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, February 7th. The shares were bought at an average cost of $33.66 per share, with a total value of $43,084.80. The disclosure for this purchase can be found here. Insiders have sold 5,091,842 shares of company stock valued at $173,113,138 over the last ninety days. 4.11% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Dividend Assets Capital LLC boosted its position in Apollo Global Management by 7.7% during the fourth quarter. Dividend Assets Capital LLC now owns 21,000 shares of the financial services provider’s stock valued at $702,000 after purchasing an additional 1,500 shares during the last quarter. Valley National Advisers Inc. raised its stake in Apollo Global Management by 10.4% in the fourth quarter. Valley National Advisers Inc. now owns 17,445 shares of the financial services provider’s stock valued at $584,000 after buying an additional 1,644 shares during the period. Stifel Financial Corp raised its stake in Apollo Global Management by 7.8% in the third quarter. Stifel Financial Corp now owns 23,623 shares of the financial services provider’s stock valued at $710,000 after buying an additional 1,705 shares during the period. Pzena Investment Management LLC raised its stake in Apollo Global Management by 1.0% in the fourth quarter. Pzena Investment Management LLC now owns 292,861 shares of the financial services provider’s stock valued at $9,802,000 after buying an additional 2,772 shares during the period. Finally, Koshinski Asset Management Inc. raised its stake in Apollo Global Management by 34.9% in the fourth quarter. Koshinski Asset Management Inc. now owns 11,737 shares of the financial services provider’s stock valued at $393,000 after buying an additional 3,038 shares during the period. 70.45% of the stock is owned by hedge funds and other institutional investors.
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About Apollo Global Management
Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.
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