Have you been eager to see how Affiliated Managers Group Inc. (NYSE:AMG) performed in Q3 in comparison with the market expectations? Let’s quickly scan through the key facts from this Massachusetts-based global asset management company’s earnings release this morning:
An Earnings Beat
Affiliated Managers came out with economic earnings of $3.41 per share, which beat the Zacks Consensus Estimate of $3.36.
Higher revenues supported earnings.
How Was the Estimate Revision Trend?
You should note that the earnings estimate revisions for Affiliated Managers depicted optimistic stance prior to the earnings release. The Zacks Consensus Estimate has moved 1.2% upward over the last 30 days.
Also, Affiliated Managers has a decent earnings surprise history. Before posting the earnings beat in Q3 the company delivered positive surprises in all four trailing quarters.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 1.9% in the trailing four quarters.
Revenue Came In Lower Than Expected
Affiliated Managers posted revenues of $585.7 million, which lagged the Zacks Consensus Estimate of $590.4 million.
Key Statistics
- Net client cash inflows during the reported quarter were $3.1 billion.
- Assets under management were nearly $803.7 billion as of Sep 30, 2017.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #3 (Hold) for Affiliated Managers. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. While things apparently look favorable, it all depends on what sense the just-released report makes to the analysts.
(You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.)
Check back later for our full write up on this Affiliated Managers earnings report!
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Affiliated Managers Group, Inc. (AMG): Free Stock Analysis Report
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