Acadian Asset Management Inc AAMI.N reported quarterly adjusted earnings of 64 cents per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 45 cents. The mean expectation of three analysts for the quarter was for earnings of 53 cents per share. Wall Street expected results to range from 52 cents to 54 cents per share.
Revenue rose 14.6% to $124.90 million from a year ago; analysts expected $117.60 million.
Acadian Asset Management Inc shares had risen by 12.5% this quarter and gained 50.5% so far this year.
FORECAST CHANGES
The mean earnings estimate of analysts had risen by about 11.6% in the last three months.
In the last 30 days, there have been no negative revisions of earnings estimates
RECOMMENDATIONS
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the investment management & fund operators peer group is "buy."
Wall Street's median 12-month price target for Acadian Asset Management Inc is $34.00, about 16.6% below its last closing price of $39.64
This summary was machine generated from LSEG data July 31 at 01:32 p.m. UTC. All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)