Equities research analysts predict that Oaktree Capital Management (NYSE:OAK) will announce sales of $268.62 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Oaktree Capital Management’s earnings. The highest sales estimate is $279.20 million and the lowest is $257.41 million. Oaktree Capital Management reported sales of $704.36 million in the same quarter last year, which indicates a negative year-over-year growth rate of 61.9%. The business is scheduled to issue its next quarterly earnings report on Thursday, July 26th.
According to Zacks, analysts expect that Oaktree Capital Management will report full-year sales of $1.46 billion for the current financial year, with estimates ranging from $1.38 billion to $1.58 billion. For the next fiscal year, analysts anticipate that the company will post sales of $1.62 billion per share, with estimates ranging from $1.45 billion to $1.75 billion. Zacks’ sales averages are an average based on a survey of analysts that cover Oaktree Capital Management.
Oaktree Capital Management (NYSE:OAK) last announced its quarterly earnings results on Thursday, April 26th. The asset manager reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.23. Oaktree Capital Management had a return on equity of 12.90% and a net margin of 15.11%. The company had revenue of $451.20 million during the quarter, compared to analysts’ expectations of $331.82 million. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 15.3% compared to the same quarter last year.
OAK has been the subject of a number of analyst reports. Zacks Investment Research cut Oaktree Capital Management from a “hold” rating to a “sell” rating in a research report on Tuesday, February 13th. Deutsche Bank reduced their price target on Oaktree Capital Management from $44.00 to $42.00 and set a “hold” rating for the company in a research report on Friday, April 6th. Morgan Stanley cut their price objective on Oaktree Capital Management from $57.00 to $56.00 and set an “overweight” rating for the company in a research report on Tuesday, April 10th. Keefe, Bruyette & Woods cut Oaktree Capital Management from an “outperform” rating to a “market perform” rating in a research report on Friday, April 27th. Finally, ValuEngine cut Oaktree Capital Management from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. Oaktree Capital Management currently has an average rating of “Hold” and a consensus target price of $49.40.
In related news, Director Oaktree Capital Group Holdings sold 1,821,377 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $20.15, for a total transaction of $36,700,746.55. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Oaktree Capital Management Lp purchased 23,700 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were purchased at an average price of $7.72 per share, for a total transaction of $182,964.00. The disclosure for this purchase can be found here. Insiders have purchased a total of 338,273 shares of company stock valued at $2,271,905 in the last three months.
Institutional investors and hedge funds have recently modified their holdings of the stock. Carroll Financial Associates Inc. increased its stake in Oaktree Capital Management by 200.0% during the fourth quarter. Carroll Financial Associates Inc. now owns 3,000 shares of the asset manager’s stock valued at $126,000 after acquiring an additional 2,000 shares during the period. Sei Investments Co. increased its stake in Oaktree Capital Management by 1,310.0% during the first quarter. Sei Investments Co. now owns 3,525 shares of the asset manager’s stock valued at $140,000 after acquiring an additional 3,275 shares during the period. Tower Research Capital LLC TRC bought a new position in Oaktree Capital Management during the fourth quarter valued at about $175,000. 180 Wealth Advisors LLC bought a new position in Oaktree Capital Management during the fourth quarter valued at about $201,000. Finally, Virtu Financial LLC bought a new position in Oaktree Capital Management during the fourth quarter valued at about $202,000. Hedge funds and other institutional investors own 23.19% of the company’s stock.
Shares of NYSE:OAK opened at $39.80 on Friday. Oaktree Capital Management has a fifty-two week low of $38.80 and a fifty-two week high of $48.50. The stock has a market capitalization of $6.27 billion, a price-to-earnings ratio of 10.03, a P/E/G ratio of 0.86 and a beta of 0.69. The company has a quick ratio of 1.85, a current ratio of 1.85 and a debt-to-equity ratio of 2.40.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 11th. Investors of record on Monday, May 7th were given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 9.65%. The ex-dividend date was Friday, May 4th. This is a boost from Oaktree Capital Management’s previous quarterly dividend of $0.76. Oaktree Capital Management’s payout ratio is currently 96.73%.
Oaktree Capital Management Company Profile
Oaktree Capital Group, LLC operates as a global investment management firm that focuses on alternative markets. It manage investments in a number of strategies within six asset classes, including distressed debt; corporate debt, including high yield debt and senior loans; control investing; convertible securities; real estate; and listed equities.
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