Zacks: Brokerages Expect AssetMark Financial Holdings, Inc. (NYSE:AMK) to Announce $0.31 EPS


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Equities analysts forecast that AssetMark Financial Holdings, Inc. (NYSE:AMK) will post $0.31 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for AssetMark Financial’s earnings. The lowest EPS estimate is $0.29 and the highest is $0.34. AssetMark Financial reported earnings per share of $0.24 during the same quarter last year, which would indicate a positive year over year growth rate of 29.2%. The company is scheduled to announce its next earnings report on Tuesday, May 4th.

According to Zacks, analysts expect that AssetMark Financial will report full-year earnings of $1.36 per share for the current fiscal year, with EPS estimates ranging from $1.25 to $1.52. For the next fiscal year, analysts forecast that the company will post earnings of $1.53 per share, with EPS estimates ranging from $1.35 to $1.76. Zacks’ earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for AssetMark Financial.

AssetMark Financial (NYSE:AMK) last announced its quarterly earnings data on Wednesday, February 10th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.18. The firm had revenue of $110.92 million during the quarter, compared to analyst estimates of $112.82 million. AssetMark Financial had a positive return on equity of 2.84% and a negative net margin of 0.16%.

AMK has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of AssetMark Financial from a “buy” rating to a “hold” rating in a research report on Monday, February 8th. Truist initiated coverage on AssetMark Financial in a research report on Friday, December 18th. They set a “hold” rating and a $27.00 price objective for the company. Finally, Raymond James upped their target price on AssetMark Financial from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, February 12th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $27.67.

In other AssetMark Financial news, EVP Ted F. Angus sold 10,069 shares of the company’s stock in a transaction that occurred on Friday, April 9th. The stock was sold at an average price of $21.93, for a total transaction of $220,813.17. Following the completion of the sale, the executive vice president now owns 79,350 shares of the company’s stock, valued at $1,740,145.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Gary G. Zyla sold 1,909 shares of AssetMark Financial stock in a transaction that occurred on Thursday, January 21st. The shares were sold at an average price of $25.00, for a total transaction of $47,725.00. Following the completion of the transaction, the chief financial officer now directly owns 165,632 shares in the company, valued at approximately $4,140,800. The disclosure for this sale can be found here. Insiders sold 209,744 shares of company stock valued at $5,219,410 over the last quarter. 7.30% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new position in AssetMark Financial in the 3rd quarter worth $876,000. Tudor Investment Corp Et Al lifted its position in shares of AssetMark Financial by 98.2% during the 4th quarter. Tudor Investment Corp Et Al now owns 18,865 shares of the company’s stock worth $457,000 after purchasing an additional 9,347 shares during the last quarter. BlackRock Inc. boosted its stake in AssetMark Financial by 14.9% during the 4th quarter. BlackRock Inc. now owns 1,710,666 shares of the company’s stock valued at $41,397,000 after purchasing an additional 222,421 shares during the period. JPMorgan Chase & Co. boosted its stake in AssetMark Financial by 25.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,807,419 shares of the company’s stock valued at $40,522,000 after purchasing an additional 363,231 shares during the period. Finally, Rhumbline Advisers grew its holdings in AssetMark Financial by 12.8% in the 4th quarter. Rhumbline Advisers now owns 22,647 shares of the company’s stock valued at $548,000 after buying an additional 2,564 shares during the last quarter. 23.50% of the stock is owned by institutional investors and hedge funds.

Shares of AMK stock traded up $0.08 during trading on Friday, hitting $22.35. 154,105 shares of the company were exchanged, compared to its average volume of 109,322. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of -1,116.94 and a beta of 1.23. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.14 and a current ratio of 4.14. The business’s 50-day simple moving average is $23.77 and its 200 day simple moving average is $23.81. AssetMark Financial has a twelve month low of $19.87 and a twelve month high of $29.45.

AssetMark Financial Company Profile

AssetMark Financial Holdings, Inc provides wealth management and technology solutions in the United States. The company offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology to the financial adviser channel.

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