Affiliated Managers Group (NYSE:AMG - Get Free Report) issued an update on its second quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 4.500-4.600 for the period, compared to the consensus earnings per share estimate of 4.860. The company issued revenue guidance of -.
Affiliated Managers Group Trading Down 1.1 %
Shares of AMG traded down $1.68 during midday trading on Tuesday, reaching $155.55. 510,382 shares of the stock were exchanged, compared to its average volume of 247,709. Affiliated Managers Group has a 52 week low of $120.22 and a 52 week high of $169.65. The company's 50 day moving average is $161.53 and its two-hundred day moving average is $149.78. The company has a market capitalization of $5.05 billion, a P/E ratio of 9.09, a PEG ratio of 0.56 and a beta of 1.31.
Affiliated Managers Group (NYSE:AMG - Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The asset manager reported $5.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.21 by $0.16. Affiliated Managers Group had a return on equity of 16.29% and a net margin of 32.71%. The business had revenue of $499.90 million for the quarter, compared to the consensus estimate of $524.53 million. During the same quarter in the prior year, the company earned $4.18 EPS. On average, sell-side analysts expect that Affiliated Managers Group will post 22.03 EPS for the current year.
Affiliated Managers Group Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Investors of record on Thursday, May 16th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, May 15th. Affiliated Managers Group's payout ratio is currently 0.23%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on AMG shares. TD Cowen dropped their price objective on Affiliated Managers Group from $218.00 to $198.00 and set a buy rating on the stock in a research report on Tuesday. Barrington Research reaffirmed an outperform rating and set a $190.00 price objective on shares of Affiliated Managers Group in a research report on Tuesday.
View Our Latest Research Report on Affiliated Managers Group
About Affiliated Managers Group
(
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Affiliated Managers Group, Inc, through its affiliates, operates as an investment management company providing investment management services to mutual funds, institutional clients,retails and high net worth individuals in the United States. It provides advisory or sub-advisory services to mutual funds.
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