Asset management firm WisdomTree (NYSE: WT) will be announcing earnings results this Friday before market hours. Here’s what to look for.
WisdomTree beat analysts’ revenue expectations last quarter, reporting revenues of $177.2 million, up 57.3% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ yield estimates.
Is WisdomTree 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 WisdomTree’s revenue to grow 44.3% year on year, improving from the 14.7% increase 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. WisdomTree has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at WisdomTree’s peers in the asset management segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Artisan Partners delivered year-on-year revenue growth of 3.7%, beating analysts’ expectations by 1.4%, and Blackstone reported a revenue decline of 2.3%, topping estimates by 1.5%. Artisan Partners traded up 4.6% following the results while Blackstone was also up 7.7%.
Read our full analysis of Artisan Partners’s results here and Blackstone’s results here.
There has been positive sentiment among investors in the asset management segment, with share prices up 2% on average over the last month. WisdomTree is down 11.9% during the same time and is heading into earnings with an average analyst price target of $25.86 (compared to the current share price of $21.38).
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