Asset management firm Artisan Partners (NYSE: APAM) will be reporting earnings this Tuesday after market close. Here’s what investors should know.
Artisan Partners beat analysts’ revenue expectations last quarter, reporting revenues of $335.5 million, up 13% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ revenue 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 9.5% year on year, improving from the 4.8% 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 to 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 capital markets segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Blackstone delivered year-on-year revenue growth of 24.2%, beating analysts’ expectations by 1.4%, and BNY reported revenues up 13.8%, topping estimates by 4.3%. Blackstone traded down 6.2% following the results while BNY was up 2.4%.
Read our full analysis of Blackstone’s results here and BNY’s results here.
There has been positive sentiment among investors in the capital markets segment, with share prices up 11.9% on average over the last month. Artisan Partners is up 6.1% during the same time and is heading into earnings with an average analyst price target of $39 (compared to the current share price of $37.78).
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