Asset management firm Artisan Partners (NYSE: APAM) will be reporting earnings this Tuesday after the bell. Here’s what to look for.
Artisan Partners beat analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $282.7 million, up 4.4% year on year. It was a mixed quarter for the company, with .
Is Artisan Partners a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Artisan Partners’s revenue to grow 8.7% year on year to $304 million, slowing from the 12.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.97 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Artisan Partners has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Artisan Partners’s peers in the capital markets segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Blackstone delivered year-on-year revenue growth of 36.7%, beating analysts’ expectations by 6.6%, and Lazard reported revenues up 12.2%, topping estimates by 1.5%. Blackstone traded down 4.4% following the results while Lazard was also down 1.1%.
Read our full analysis of Blackstone’s results here and Lazard’s results here.
Investors in the capital markets segment have had fairly steady hands going into earnings, with share prices down 1% on average over the last month. Artisan Partners’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $45 (compared to the current share price of $43.55).
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