AllianceBernstein (NYSE:AB) Issues Earnings Results, Beats Expectations By $0.18 EPS

AllianceBernstein (NYSE:AB) announced its quarterly earnings results on Thursday. The asset manager reported $1.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18, Zacks reports. AllianceBernstein had a return on equity of 16.23% and a net margin of 9.22%.

AllianceBernstein Price Performance

NYSE AB traded down $3.18 during trading hours on Thursday, reaching $36.72. The company’s stock had a trading volume of 1,966,349 shares, compared to its average volume of 548,754. The firm has a market capitalization of $4.23 billion, a price-to-earnings ratio of 10.52, a P/E/G ratio of 0.81 and a beta of 1.21. AllianceBernstein has a 1-year low of $30.57 and a 1-year high of $41.37. The company’s 50-day moving average is $37.25 and its two-hundred day moving average is $35.99.

Analyst Upgrades and Downgrades

Several analysts have issued reports on AB shares. Barclays dropped their target price on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Evercore ISI boosted their price objective on shares of AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.40.

About AllianceBernstein

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.