Asset management company Affiliated Managers Group (NYSE: AMG) will be reporting results this Thursday before the bell. Here’s what you need to know.
Affiliated Managers Group missed analysts’ revenue expectations last quarter, reporting revenues of $544.9 million, up 9.7% year on year. It was a slower quarter for the company, with a beat of analysts’ EPS estimates.
Is Affiliated Managers Group a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Affiliated Managers Group’s revenue to grow 19.2% year on year, a reversal from the 1.4% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at Affiliated Managers Group’s peers in the custody bank segment, some have already reported their Q2 results, giving us a hint as to what we can expect. BNY delivered year-on-year revenue growth of 13.3%, beating analysts’ expectations by 5.4%, and State Street reported revenues up 16.7%, topping estimates by 3.8%. BNY traded up 4.1% following the results while State Street was down 2.2%.
Read our full analysis of BNY’s results here and State Street’s results here.
There has been positive sentiment among investors in the custody bank segment, with share prices up 8.9% on average over the last month. Affiliated Managers Group is up 8.1% during the same time and is heading into earnings with an average analyst price target of $412 (compared to the current share price of $370.12).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.
