Apollo Global Management (NYSE:APO) Announces Earnings Results

Apollo Global Management (NYSE:APO) released its earnings results on Thursday. The financial services provider reported $0.46 EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.02), MarketWatch Earnings reports. The business had revenue of $467.01 million for the quarter, compared to the consensus estimate of $442.94 million. Apollo Global Management had a return on equity of 38.25% and a net margin of 31.68%. During the same quarter in the previous year, the firm earned $0.58 earnings per share.

Shares of Apollo Global Management stock traded down $1.44 on Friday, reaching $49.10. The stock had a trading volume of 2,482,652 shares, compared to its average volume of 969,005. The business’s 50 day moving average is $50.71 and its two-hundred day moving average is $44.46. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.97. Apollo Global Management has a 1 year low of $19.46 and a 1 year high of $55.38. The company has a market cap of $11.24 billion, a P/E ratio of -153.44, a price-to-earnings-growth ratio of 1.52 and a beta of 1.65.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 31st. Stockholders of record on Tuesday, August 18th will be given a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, August 17th. This is a boost from Apollo Global Management’s previous quarterly dividend of $0.42. This represents a $1.96 annualized dividend and a dividend yield of 3.99%. Apollo Global Management’s dividend payout ratio is currently 61.99%.

APO has been the subject of a number of research analyst reports. Bank of America decreased their price objective on shares of Apollo Global Management from $54.00 to $53.00 and set a “neutral” rating for the company in a report on Friday, July 10th. Cfra raised their price target on shares of Apollo Global Management from $43.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, May 20th. Wells Fargo & Co lifted their price target on shares of Apollo Global Management from $44.00 to $48.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Jefferies Financial Group increased their price objective on Apollo Global Management from $44.00 to $45.00 and gave the company a “buy” rating in a report on Monday, May 4th. Finally, Oppenheimer restated a “hold” rating on shares of Apollo Global Management in a research note on Monday, May 4th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $56.29.

In other Apollo Global Management news, COO Anthony Civale sold 60,000 shares of the stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $46.69, for a total value of $2,801,400.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marc J. Rowan sold 18,771 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $40.10, for a total transaction of $752,717.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,187,598 shares of company stock valued at $51,642,778. 46.90% of the stock is owned by corporate insiders.

Apollo Global Management Company Profile

Apollo Global Management, LLC is a publicly owned investment manager. The firm primarily provides its services to endowment and sovereign wealth funds, as well as other institutional and individual investors. It manages client focused portfolios. The firm launches and manages hedge funds for its clients.

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Earnings History for Apollo Global Management (NYSE:APO)

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