AssetMark Financial Holdings Inc reports results for the quarter ended in December - Earnings Summary

AssetMark Financial Holdings

23/02/2024 03:04

* AssetMark Financial Holdings Inc  AMK.N  reported
quarterly
adjusted earnings of 59 cents​​ per share for the quarter ended
in December, higher than the same quarter last year, when the
company reported EPS of 46 cents.  The mean expectation of
five analysts for the quarter was for earnings of 57 cents per
share. Wall Street expected results to range from 55 cents to 60
cents per share.
    * Revenue fell 29.5% to $115.63 million from a year ago;
analysts
expected $137.34 million. 
    * AssetMark Financial Holdings Inc's reported EPS for the
quarter
was 46 cents​.
    * The company reported quarterly net income of $34.64
million.
    * AssetMark Financial Holdings Inc shares had risen by 9.5%
this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 0.7%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the investment
management & fund operators peer group is also "buy"

Wall Street's median 12-month price target for AssetMark
Financial Holdings Inc is $35.40 
This summary was machine generated from LSEG data February 23 at
03:04 a.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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.57           0.59           Beat
 Sep. 30 2023      0.58           0.62           Beat
 Jun. 30 2023      0.57           0.55           Missed
 Mar. 31 2023      0.54           0.53           Missed