Apollo Global Management (NYSE:APO) Announces Quarterly Earnings Results

Apollo Global Management (NYSE:APO) released its quarterly earnings data on Thursday. The financial services provider reported $1.64 EPS for the quarter, missing the consensus estimate of $1.67 by ($0.03), Briefing.com reports. Apollo Global Management had a net margin of 21.90% and a return on equity of 17.97%. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $873.18 million. During the same quarter last year, the business earned $1.54 EPS.

Apollo Global Management Stock Down 10.7 %

Shares of NYSE:APO traded down $12.44 during trading on Friday, reaching $103.53. The stock had a trading volume of 8,835,168 shares, compared to its average volume of 2,292,940. Apollo Global Management has a one year low of $77.11 and a one year high of $126.45. The company has a market capitalization of $58.82 billion, a P/E ratio of 11.47, a PEG ratio of 0.95 and a beta of 1.59. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 0.37. The firm’s 50-day simple moving average is $118.33 and its 200 day simple moving average is $112.46.

Apollo Global Management Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be issued a $0.4625 dividend. This represents a $1.85 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend is Friday, August 16th. Apollo Global Management’s dividend payout ratio is currently 20.49%.

Insider Activity

In related news, CFO Martin Kelly sold 30,000 shares of Apollo Global Management stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $111.29, for a total value of $3,338,700.00. Following the completion of the sale, the chief financial officer now directly owns 359,445 shares in the company, valued at approximately $40,002,634.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 8.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com upgraded shares of Apollo Global Management from a “sell” rating to a “hold” rating in a research report on Monday, July 29th. TD Cowen raised their target price on shares of Apollo Global Management from $146.00 to $147.00 and gave the stock a “buy” rating in a report on Monday, July 8th. JMP Securities restated a “market perform” rating on shares of Apollo Global Management in a report on Tuesday, April 9th. Barclays lowered their target price on shares of Apollo Global Management from $131.00 to $128.00 and set an “overweight” rating for the company in a report on Friday. Finally, Evercore ISI raised their target price on shares of Apollo Global Management from $128.00 to $130.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Six equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $121.00.

Apollo Global Management Company Profile

Apollo Global Management, Inc is a private equity firm specializing in investments in credit, private equity and real estate markets. The firm's private equity investments include traditional buyouts, recapitalization, distressed buyouts and debt investments in real estate, corporate partner buyouts, distressed asset, corporate carve-outs, middle market, growth capital, turnaround, bridge, corporate restructuring, special situation, acquisition, and industry consolidation transactions.