Equities analysts expect Oaktree Capital Management (NYSE:OAK) to report $268.62 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Oaktree Capital Management’s earnings. The lowest sales estimate is $257.41 million and the highest is $279.20 million. Oaktree Capital Management reported sales of $704.36 million during the same quarter last year, which would suggest a negative year over year growth rate of 61.9%. The company is expected to report its next earnings report on Thursday, July 26th.
According to Zacks, analysts expect that Oaktree Capital Management will report full-year sales of $1.46 billion for the current year, with estimates ranging from $1.38 billion to $1.58 billion. For the next fiscal year, analysts forecast that the business will report sales of $1.62 billion per share, with estimates ranging from $1.45 billion to $1.75 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Oaktree Capital Management.
Oaktree Capital Management (NYSE:OAK) last released its earnings results on Thursday, April 26th. The asset manager reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.23. The company had revenue of $451.20 million during the quarter, compared to analyst estimates of $331.82 million. Oaktree Capital Management had a return on equity of 12.90% and a net margin of 15.11%. Oaktree Capital Management’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 earnings per share.
OAK has been the subject of several recent analyst reports. Zacks Investment Research lowered Oaktree Capital Management from a “hold” rating to a “sell” rating in a report on Tuesday, February 13th. Deutsche Bank reduced their price objective on Oaktree Capital Management from $44.00 to $42.00 and set a “hold” rating for the company in a report on Friday, April 6th. Keefe, Bruyette & Woods lowered Oaktree Capital Management from an “outperform” rating to a “market perform” rating in a report on Friday, April 27th. Morgan Stanley reduced their price objective on Oaktree Capital Management from $57.00 to $56.00 and set an “overweight” rating for the company in a report on Tuesday, April 10th. Finally, ValuEngine lowered Oaktree Capital Management from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $49.40.
In other news, Director Larry W. Keele sold 21,090 shares of the firm’s stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $40.01, for a total value of $843,810.90. Following the completion of the transaction, the director now directly owns 43,415 shares of the company’s stock, valued at $1,737,034.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Oaktree Capital Group Holdings sold 1,821,377 shares of the firm’s stock in a transaction on Tuesday, March 13th. The stock was sold at an average price of $20.15, for a total value of $36,700,746.55. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 314,573 shares of company stock valued at $2,090,363.
Several institutional investors have recently bought and sold shares of OAK. Carroll Financial Associates Inc. boosted its holdings in shares of Oaktree Capital Management by 200.0% in the fourth quarter. Carroll Financial Associates Inc. now owns 3,000 shares of the asset manager’s stock worth $126,000 after acquiring an additional 2,000 shares during the period. Sei Investments Co. boosted its holdings in shares of Oaktree Capital Management by 1,310.0% in the first quarter. Sei Investments Co. now owns 3,525 shares of the asset manager’s stock worth $140,000 after acquiring an additional 3,275 shares during the period. Tower Research Capital LLC TRC bought a new position in shares of Oaktree Capital Management in the fourth quarter worth $175,000. 180 Wealth Advisors LLC purchased a new stake in shares of Oaktree Capital Management in the fourth quarter worth $201,000. Finally, Virtu Financial LLC purchased a new stake in shares of Oaktree Capital Management in the fourth quarter worth $202,000. 26.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Oaktree Capital Management traded up $0.27, hitting $39.97, during trading on Friday, Marketbeat.com reports. The company’s stock had a trading volume of 4,006 shares, compared to its average volume of 309,576. The firm has a market cap of $6.29 billion, a PE ratio of 10.08, a P/E/G ratio of 0.86 and a beta of 0.69. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 2.40. Oaktree Capital Management has a 52 week low of $38.80 and a 52 week high of $48.50.
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 11th. Shareholders of record on Monday, May 7th were issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 9.61%. This is a positive change from Oaktree Capital Management’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Friday, May 4th. Oaktree Capital Management’s dividend payout ratio is 96.73%.
About Oaktree Capital Management
Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. It manage investments in a number of strategies within six asset classes, including distressed debt; corporate debt, including high yield debt and senior loans; control investing; convertible securities; real estate; and listed equities.
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