Asset management firm Artisan Partners (NYSE: APAM) will be reporting earnings this Tuesday after the bell. Here’s what you need to know.
Artisan Partners beat analysts’ revenue expectations last quarter, reporting revenues of $307.9 million, up 8.9% year on year. It was a strong quarter for the company, with a beat of analysts’ EPS estimates and AUM in line with analysts’ estimates.
Is Artisan Partners 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 Artisan Partners’s revenue to grow 2.3% year on year, slowing from the 7.8% 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. Artisan Partners has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Artisan Partners’s peers in the asset management segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Blackstone’s revenues decreased 2.3% year on year, beating analysts’ expectations by 1.5%, and SEI Investments reported revenues up 14.4%, topping estimates by 0.5%. Blackstone traded up 7.6% following the results while SEI Investments was down 3.6%.
Read our full analysis of Blackstone’s results here and SEI Investments’s results here.
Investors in the asset management segment have had steady hands going into earnings, with share prices up 1.5% on average over the last month. Artisan Partners is down 6.3% during the same time and is heading into earnings with an average analyst price target of $35.25 (compared to the current share price of $33.57).
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