Asset management company Affiliated Managers Group (NYSE: AMG) will be reporting results this Monday morning. Here’s what investors should know.
Affiliated Managers Group beat analysts’ revenue expectations last quarter, reporting revenues of $794.1 million, up 35.9% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates.
Is Affiliated Managers Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Affiliated Managers Group’s revenue to grow 5.4% year on year, slowing from the 30.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Affiliated Managers Group has a history of exceeding Wall Street’s expectations.
Looking at Affiliated Managers Group’s peers in the asset management segment, some have already reported their Q3 results, giving us a hint as to what we can expect. StepStone Group delivered year-on-year revenue growth of 28.5%, beating analysts’ expectations by 9.4%, and Franklin Resources reported revenues up 3.9%, topping estimates by 0.6%. StepStone Group traded up 10.8% following the results.
Read our full analysis of StepStone Group’s results here and Franklin Resources’s results here.
There has been positive sentiment among investors in the asset management segment, with share prices up 4% on average over the last month. Affiliated Managers Group is down 5.9% during the same time and is heading into earnings with an average analyst price target of $445.71 (compared to the current share price of $364.59).
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