Apollo Global Management LLC (APO) Expected to Post Quarterly Sales of $586.33 Million

Wall Street analysts expect Apollo Global Management LLC (NYSE:APO) to report sales of $586.33 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Apollo Global Management’s earnings. The highest sales estimate is $599.66 million and the lowest is $573.00 million. Apollo Global Management reported sales of $643.55 million in the same quarter last year, which indicates a negative year over year growth rate of 8.9%. The company is expected to issue its next earnings results on Friday, April 27th.

On average, 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 fiscal year, analysts expect that the firm will post sales of $2.99 billion per share, with estimates ranging from $2.71 billion to $3.27 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Apollo Global Management.

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Apollo Global Management (NYSE:APO) last announced its quarterly earnings data on Thursday, February 1st. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.55. The business had revenue of $869.50 million for the quarter, compared to the consensus estimate of $599.38 million. Apollo Global Management had a net margin of 23.92% and a return on equity of 62.94%. Apollo Global Management’s quarterly revenue was up 26.9% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share.

Several equities research analysts have recently issued reports on APO shares. Zacks Investment Research upgraded shares of Apollo Global Management from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research note on Tuesday, December 19th. Citigroup downgraded shares of Apollo Global Management from a “buy” rating to a “neutral” rating and set a $38.00 price objective on the stock. in a research note on Friday, January 19th. Morgan Stanley upgraded shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research note on Wednesday, January 3rd. Credit Suisse Group raised their price objective on shares of Apollo Global Management from $38.00 to $39.00 and gave the stock a “neutral” rating in a research note on Monday, February 5th. Finally, ValuEngine upgraded shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have issued a strong buy rating to the stock. Apollo Global Management has an average rating of “Buy” and a consensus target price of $36.50.

Shares of Apollo Global Management (NYSE:APO) opened at $32.05 on Friday. The stock has a market cap of $6,523.72, a price-to-earnings ratio of 10.31, a PEG ratio of 0.96 and a beta of 1.06. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.26 and a quick ratio of 2.26. Apollo Global Management has a 52 week low of $22.91 and a 52 week high of $37.35.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 28th. Shareholders of record on Wednesday, February 21st were paid a dividend of $0.66 per share. The ex-dividend date was Tuesday, February 20th. This represents a $2.64 dividend on an annualized basis and a yield of 8.24%. This is an increase from Apollo Global Management’s previous quarterly dividend of $0.39. Apollo Global Management’s payout ratio is currently 84.89%.

In other Apollo Global Management news, Director Pauline Richards purchased 1,280 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were purchased at an average price of $33.66 per share, for a total transaction of $43,084.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joshua Harris sold 4,500,000 shares of Apollo Global Management stock in a transaction on Monday, February 5th. The stock was sold at an average price of $34.00, for a total transaction of $153,000,000.00. The disclosure for this sale can be found here. Insiders have sold 5,091,842 shares of company stock worth $173,113,138 in the last quarter. Corporate insiders own 4.11% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of APO. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Apollo Global Management by 26.8% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 33,330 shares of the financial services provider’s stock valued at $1,003,000 after acquiring an additional 7,051 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Apollo Global Management by 110.4% during the third quarter. BNP Paribas Arbitrage SA now owns 137,767 shares of the financial services provider’s stock valued at $4,147,000 after acquiring an additional 72,276 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of Apollo Global Management by 4,894.9% during the third quarter. Ameriprise Financial Inc. now owns 746,881 shares of the financial services provider’s stock valued at $22,481,000 after acquiring an additional 731,928 shares during the period. Stephens Inc. AR lifted its holdings in shares of Apollo Global Management by 35.9% during the third quarter. Stephens Inc. AR now owns 28,164 shares of the financial services provider’s stock valued at $848,000 after acquiring an additional 7,440 shares during the period. Finally, Yorktown Management & Research Co Inc bought a new position in shares of Apollo Global Management during the third quarter valued at $334,000. Hedge funds and other institutional investors own 70.48% of the company’s stock.

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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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