GCM Grosvenor Inc reports results for the quarter ended in January - Earnings Summary

GCM Grosvenor

08/08/2024 15:07

* GCM Grosvenor Inc  GCMG.OQ  reported quarterly adjusted
earnings
of 15 cents​​ per share for the quarter ended in January, higher
than the same quarter last year, when the company reported EPS
of 12 cents.  The mean expectation of six analysts for the
quarter was for earnings of 14 cents per share. Wall Street
expected results to range from 13 cents to 17 cents per share.
    * Revenue rose 8.7% to $116.95 million from a year ago;
analysts
expected $113.30 million. 
    * GCM Grosvenor Inc's reported EPS for the quarter was 4
cents​.
    * The company reported quarterly net income of $4.8 million.
    * GCM Grosvenor Inc shares had risen by 6.6% this
quarter and
gained 16.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 6.5%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "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 also "buy"

Wall Street's median 12-month price target for GCM Grosvenor Inc
is $11.25 
This summary was machine generated from LSEG data August 8 at
02:06 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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      0.15           0.15           Met
 Mar. 31 2024      0.14           0.14           Met
 Dec. 31 2023      0.18           0.17           Missed
 Sep. 30 2023      0.14           0.15           Beat