Apollo Global Management (NYSE:APO) Posts Earnings Results, Misses Estimates By $0.03 EPS

Apollo Global Management (NYSE:APO) announced its quarterly earnings results on Thursday. The financial services provider reported $1.64 earnings per share for the quarter, missing analysts’ consensus estimates of $1.67 by ($0.03), Briefing.com reports. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. Apollo Global Management had a return on equity of 17.97% and a net margin of 21.90%. During the same period in the prior year, the business earned $1.54 earnings per share.

Apollo Global Management Stock Down 10.7 %

APO stock traded down $12.44 during midday trading on Friday, hitting $103.53. The company’s stock had a trading volume of 8,835,168 shares, compared to its average volume of 2,292,940. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.60 and a quick ratio of 1.60. Apollo Global Management has a twelve month low of $77.11 and a twelve month high of $126.45. The company’s fifty day moving average price is $118.33 and its 200 day moving average price is $112.58. The stock has a market capitalization of $58.82 billion, a P/E ratio of 11.47, a PEG ratio of 0.95 and a beta of 1.59.

Apollo Global Management Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be paid a $0.4625 dividend. The ex-dividend date is Friday, August 16th. This represents a $1.85 annualized dividend and a yield of 1.79%. Apollo Global Management’s payout ratio is currently 20.49%.

Insider Activity

In other news, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction dated Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the completion of the transaction, the chief financial officer now owns 359,445 shares of the company’s stock, valued at approximately $40,002,634.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 8.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Apollo Global Management from $130.00 to $129.00 and set a “buy” rating on the stock in a research report on Friday. UBS Group lifted their price target on shares of Apollo Global Management from $116.00 to $123.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 10th. JPMorgan Chase & Co. raised their price objective on shares of Apollo Global Management from $122.00 to $123.00 and gave the stock an “overweight” rating in a report on Wednesday, April 24th. Evercore ISI raised their price objective on shares of Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, TD Cowen raised their price objective on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 8th. Six investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Apollo Global Management presently has a consensus rating of “Moderate Buy” and a consensus target price of $121.00.

About Apollo Global Management

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.