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$497.22 Million in Sales Expected for Apollo Global Management, Inc. (NYSE:APO) This Quarter

Tuesday, May 4, 2021 | MarketBeat

Equities analysts expect Apollo Global Management, Inc. (NYSE:APO) to post $497.22 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Apollo Global Management's earnings, with the highest sales estimate coming in at $504.50 million and the lowest estimate coming in at $483.73 million. Apollo Global Management posted sales of $421.50 million in the same quarter last year, which suggests a positive year-over-year growth rate of 18%. The business is expected to report its next quarterly earnings results before the market opens on Tuesday, May 4th.

According to Zacks, analysts expect that Apollo Global Management will report full-year sales of $2.06 billion for the current year, with estimates ranging from $2.02 billion to $2.08 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.23 billion, with estimates ranging from $2.22 billion to $2.27 billion. Zacks' sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Apollo Global Management.

Apollo Global Management (NYSE:APO) last released its earnings results on Tuesday, February 2nd. The financial services provider reported $0.72 earnings per share for the quarter, topping the Zacks' consensus estimate of $0.50 by $0.22. The business had revenue of $519.79 million during the quarter, compared to analysts' expectations of $480.07 million. During the same period last year, the business earned $0.59 earnings per share. The company's revenue for the quarter was up 15.8% compared to the same quarter last year.

A number of research analysts have weighed in on APO shares. Zacks Investment Research lowered shares of Apollo Global Management from a "buy" rating to a "hold" rating in a research note on Tuesday, April 13th. Morgan Stanley increased their price objective on Apollo Global Management from $55.00 to $62.00 and gave the stock an "overweight" rating in a research report on Monday, February 8th. Wells Fargo & Company lowered their price objective on Apollo Global Management from $62.00 to $57.00 and set an "overweight" rating for the company in a research report on Monday, April 12th. Oppenheimer upgraded Apollo Global Management from a "market perform" rating to an "outperform" rating and set a $59.00 price objective for the company in a research report on Tuesday, April 20th. Finally, TheStreet lowered Apollo Global Management from a "b-" rating to a "c+" rating in a research report on Thursday, March 18th. Five investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The stock currently has an average rating of "Buy" and an average target price of $55.27.

In related news, insider Joshua Harris sold 1,000 shares of the firm's stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $51.00, for a total transaction of $51,000.00. Following the transaction, the insider now owns 1,350,000 shares of the company's stock, valued at $68,850,000. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Tiger Global Management Llc purchased 1,000,000 shares of the stock in a transaction that occurred on Thursday, March 11th. The shares were bought at an average cost of $47.22 per share, for a total transaction of $47,220,000.00. The disclosure for this purchase can be found here. Insiders have sold 1,308,428 shares of company stock worth $66,994,836 in the last quarter. Insiders own 9.30% of the company's stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in shares of Apollo Global Management by 1.5% during the fourth quarter. BlackRock Inc. now owns 9,449,991 shares of the financial services provider's stock worth $462,861,000 after buying an additional 136,034 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Apollo Global Management by 14.3% in the 4th quarter. Clearbridge Investments LLC now owns 8,136,747 shares of the financial services provider's stock valued at $398,538,000 after purchasing an additional 1,015,878 shares in the last quarter. Morgan Stanley boosted its holdings in Apollo Global Management by 39.4% in the 4th quarter. Morgan Stanley now owns 2,794,072 shares of the financial services provider's stock valued at $136,853,000 after purchasing an additional 789,616 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Apollo Global Management by 3,305.3% in the 4th quarter. Principal Financial Group Inc. now owns 2,432,960 shares of the financial services provider's stock valued at $119,167,000 after purchasing an additional 2,361,514 shares in the last quarter. Finally, Zurich Insurance Group Ltd FI boosted its holdings in Apollo Global Management by 21.6% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 2,235,074 shares of the financial services provider's stock valued at $109,474,000 after purchasing an additional 397,598 shares in the last quarter. 71.95% of the stock is currently owned by hedge funds and other institutional investors.

APO opened at $55.07 on Tuesday. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.26 and a quick ratio of 1.26. The company's 50 day simple moving average is $49.64 and its two-hundred day simple moving average is $47.35. Apollo Global Management has a 1-year low of $36.35 and a 1-year high of $56.29. The firm has a market capitalization of $12.77 billion, a price-to-earnings ratio of -65.56, a price-to-earnings-growth ratio of 5.26 and a beta of 1.62.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 26th. Shareholders of record on Friday, February 19th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, February 18th. This is a boost from Apollo Global Management's previous quarterly dividend of $0.51. This represents a $2.40 dividend on an annualized basis and a yield of 4.36%. Apollo Global Management's dividend payout ratio (DPR) is currently 88.56%.

About Apollo Global Management

Apollo Global Management, Inc 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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