AssetMark Financial (NYSE:AMK) Posts Quarterly Earnings Results, Meets Estimates

AssetMark Financial (NYSE:AMK) posted its earnings results on Wednesday. The company reported $0.60 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.60, Briefing.com reports. AssetMark Financial had a return on equity of 13.15% and a net margin of 19.92%. The business had revenue of $190.27 million for the quarter, compared to analyst estimates of $143.91 million. During the same period in the previous year, the firm earned $0.53 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year.

AssetMark Financial Price Performance

Shares of NYSE AMK traded up $0.01 during midday trading on Friday, reaching $33.96. The company’s stock had a trading volume of 470,625 shares, compared to its average volume of 701,744. The company has a debt-to-equity ratio of 0.07, a quick ratio of 3.84 and a current ratio of 3.84. The company has a market cap of $2.53 billion, a P/E ratio of 17.78 and a beta of 1.11. The business’s 50 day moving average price is $35.19 and its two-hundred day moving average price is $30.53. AssetMark Financial has a fifty-two week low of $22.92 and a fifty-two week high of $37.54.

Analyst Ratings Changes

Several analysts recently commented on the stock. Raymond James lifted their target price on shares of AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. cut AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 price objective for the company. in a report on Friday, April 26th. Finally, William Blair lowered AssetMark Financial from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 25th.

About AssetMark Financial

AssetMark Financial Holdings, Inc, together with its subsidiaries, provides wealth management platform in the United States. It offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology solutions to the financial adviser channel.