$404.24 Million in Sales Expected for Apollo Global Management LLC (NYSE:APO) This Quarter

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Analysts expect that Apollo Global Management LLC (NYSE:APO) will announce $404.24 million in sales for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Apollo Global Management’s earnings. The highest sales estimate is $411.00 million and the lowest is $396.96 million. Apollo Global Management reported sales of $517.73 million in the same quarter last year, which indicates a negative year-over-year growth rate of 21.9%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, October 31st.

On average, analysts expect that Apollo Global Management will report full year sales of $1.60 billion for the current financial year, with estimates ranging from $1.59 billion to $1.62 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.75 billion, with estimates ranging from $1.72 billion to $1.77 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Apollo Global Management.

Apollo Global Management (NYSE:APO) last announced its earnings results on Wednesday, July 31st. The financial services provider reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The firm had revenue of $523.30 million during the quarter, compared to analysts’ expectations of $398.72 million. During the same quarter in the previous year, the firm earned $0.53 EPS. The firm’s revenue was down 17.8% on a year-over-year basis.

APO has been the topic of a number of research analyst reports. Morgan Stanley boosted their target price on Apollo Global Management from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 9th. Barclays restated a “buy” rating and issued a $44.00 target price on shares of Apollo Global Management in a research note on Sunday, October 13th. Zacks Investment Research downgraded Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 9th. Wells Fargo & Co boosted their target price on Apollo Global Management from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. Finally, BMO Capital Markets initiated coverage on Apollo Global Management in a research note on Monday, October 7th. They issued an “outperform” rating and a $52.00 target price on the stock. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Apollo Global Management has a consensus rating of “Buy” and an average price target of $42.58.

Shares of NYSE APO traded down $0.06 during midday trading on Friday, reaching $39.97. The company’s stock had a trading volume of 875,598 shares, compared to its average volume of 2,707,746. Apollo Global Management has a 12-month low of $22.63 and a 12-month high of $41.79. The firm has a 50 day moving average price of $39.13 and a 200-day moving average price of $34.44. The stock has a market capitalization of $8.04 billion, a P/E ratio of -190.33, a PEG ratio of 1.08 and a beta of 1.48. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.64 and a quick ratio of 1.64.

In other news, Director Pauline Richards acquired 2,720 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $30.85 per share, for a total transaction of $83,912.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Martin Kelly sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $39.96, for a total value of $159,840.00. The disclosure for this sale can be found here. 46.90% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the business. Raymond James & Associates increased its stake in shares of Apollo Global Management by 3.5% during the 1st quarter. Raymond James & Associates now owns 64,483 shares of the financial services provider’s stock valued at $1,822,000 after acquiring an additional 2,186 shares during the last quarter. Advisor Group Inc. increased its holdings in shares of Apollo Global Management by 66.0% during the first quarter. Advisor Group Inc. now owns 37,017 shares of the financial services provider’s stock valued at $1,046,000 after purchasing an additional 14,723 shares during the period. Amundi Pioneer Asset Management Inc. increased its holdings in shares of Apollo Global Management by 46.5% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 588,058 shares of the financial services provider’s stock valued at $16,613,000 after purchasing an additional 186,658 shares during the period. Williams Jones & Associates LLC increased its holdings in shares of Apollo Global Management by 12.5% during the first quarter. Williams Jones & Associates LLC now owns 11,250 shares of the financial services provider’s stock valued at $318,000 after purchasing an additional 1,250 shares during the period. Finally, Parisi Gray Wealth Management acquired a new position in shares of Apollo Global Management during the first quarter valued at $339,000. 72.51% of the stock is currently owned by institutional investors and hedge funds.

About Apollo Global Management

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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