Affiliated Managers Group Surpasses Q1 Earnings Estimates
Affiliated Managers Group (NYSE: AMG) came out with quarterly earnings of $5.37 per share, beating the Zacks Consensus Estimate of $5.21 per share. This compares to earnings of $4.18 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 3.07%. A quarter ago, it was expected that this asset manager would post earnings of $6 per share when it actually produced earnings of $6.86, delivering a surprise of 14.33%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Affiliated Managers, which belongs to the Zacks Financial – Investment Management industry, posted revenues of $499.9 million for the quarter ended March 2024, missing the Zacks Consensus Estimate by 4.70%. This compares to year-ago revenues of $517.4 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Affiliated Managers shares have added …
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