$595.50 Million in Sales Expected for Apollo Global Management LLC (APO) This Quarter

Brokerages expect that Apollo Global Management LLC (NYSE:APO) will report $595.50 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Apollo Global Management’s earnings, with estimates ranging from $595.00 million to $596.00 million. Apollo Global Management reported sales of $685.38 million in the same quarter last year, which indicates a negative year-over-year growth rate of 13.1%. The firm is expected to report its next quarterly earnings report on Friday, February 2nd.

On average, analysts expect that Apollo Global Management will report full-year sales of $595.50 million for the current fiscal year, with estimates ranging from $2.29 billion to $2.55 billion. For the next year, analysts anticipate that the business will post sales of $2.79 billion per share, with estimates ranging from $2.53 billion to $3.01 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Apollo Global Management.

Apollo Global Management (NYSE:APO) last announced its quarterly earnings results on Wednesday, November 1st. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.51. Apollo Global Management had a net margin of 24.82% and a return on equity of 64.11%. The company had revenue of $645.20 million during the quarter, compared to analyst estimates of $467.72 million. During the same quarter in the previous year, the business earned $0.58 EPS. The firm’s revenue was up 31.1% on a year-over-year basis.

Several brokerages have recently issued reports on APO. ValuEngine raised shares of Apollo Global Management from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Jefferies Group reissued a “buy” rating and issued a $34.00 price target on shares of Apollo Global Management in a report on Tuesday, September 26th. Morgan Stanley raised shares of Apollo Global Management from an “equal weight” rating to an “overweight” rating and set a $42.00 target price for the company in a research note on Wednesday, January 3rd. Zacks Investment Research lowered shares of Apollo Global Management from a “buy” rating to a “hold” rating in a research note on Thursday, October 12th. Finally, Credit Suisse Group upped their target price on shares of Apollo Global Management from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Thursday, November 2nd. Two analysts have rated the stock with a hold rating, eleven have issued a buy rating and two have assigned a strong buy rating to the stock. Apollo Global Management has an average rating of “Buy” and a consensus target price of $34.46.

In related news, major shareholder Tiger Global Management Llc bought 43,714 shares of Apollo Global Management stock in a transaction that occurred on Tuesday, November 14th. The stock was purchased at an average cost of $29.18 per share, with a total value of $1,275,574.52. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 4.11% of the stock is currently owned by corporate insiders.

A number of large investors have recently modified their holdings of the business. Wealthsource Partners LLC bought a new stake in Apollo Global Management during the 3rd quarter worth about $251,000. Cetera Advisor Networks LLC lifted its position in Apollo Global Management by 30.7% during the 3rd quarter. Cetera Advisor Networks LLC now owns 25,971 shares of the financial services provider’s stock worth $777,000 after buying an additional 6,101 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its position in Apollo Global Management by 30.4% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,225 shares of the financial services provider’s stock worth $1,452,000 after buying an additional 11,248 shares in the last quarter. First Allied Advisory Services Inc. lifted its position in Apollo Global Management by 91.5% during the 3rd quarter. First Allied Advisory Services Inc. now owns 51,682 shares of the financial services provider’s stock worth $1,548,000 after buying an additional 24,690 shares in the last quarter. Finally, L & S Advisors Inc bought a new stake in Apollo Global Management during the 3rd quarter worth about $932,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Apollo Global Management (NYSE APO) traded up $0.17 during mid-day trading on Monday, hitting $34.48. 360,500 shares of the stock traded hands, compared to its average volume of 741,900. Apollo Global Management has a one year low of $20.38 and a one year high of $35.01. The firm has a market cap of $6,720.00, a price-to-earnings ratio of 11.34, a price-to-earnings-growth ratio of 1.16 and a beta of 1.22. The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.58.

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About Apollo Global Management

Apollo Global Management, LLC (Apollo) is an alternative investment manager in private equity, credit and real estate. The Company raises, invests and manages funds on behalf of pension, endowment and sovereign wealth funds, as well as other institutional and individual investors. The Company’s segments include private equity, credit and real estate.

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