Brokerages Expect A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Will Post Quarterly Sales of $2.07 Billion

Wall Street brokerages expect A-Mark Precious Metals, Inc. (NASDAQ:AMRKGet Rating) to post $2.07 billion in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for A-Mark Precious Metals’ earnings, with the lowest sales estimate coming in at $1.95 billion and the highest estimate coming in at $2.18 billion. A-Mark Precious Metals reported sales of $2.18 billion during the same quarter last year, which indicates a negative year over year growth rate of 5%. The firm is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that A-Mark Precious Metals will report full year sales of $8.14 billion for the current fiscal year, with estimates ranging from $8.02 billion to $8.25 billion. For the next year, analysts expect that the company will post sales of $8.55 billion, with estimates ranging from $8.15 billion to $8.96 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover A-Mark Precious Metals.

A-Mark Precious Metals (NASDAQ:AMRKGet Rating) last released its earnings results on Thursday, May 5th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $1.96 by $1.10. A-Mark Precious Metals had a return on equity of 41.21% and a net margin of 1.77%. During the same quarter in the prior year, the firm earned $8.84 EPS.

AMRK has been the topic of a number of recent analyst reports. StockNews.com initiated coverage on A-Mark Precious Metals in a report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research raised A-Mark Precious Metals from a “hold” rating to a “strong-buy” rating and set a $76.00 price target on the stock in a report on Tuesday, May 10th. Finally, Northland Securities initiated coverage on A-Mark Precious Metals in a report on Tuesday, April 19th. They set an “outperform” rating and a $105.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $85.50.

In other A-Mark Precious Metals news, EVP Carol Meltzer sold 7,183 shares of the business’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $73.50, for a total transaction of $527,950.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Beverley Lepine sold 500 shares of the business’s stock in a transaction that occurred on Thursday, March 10th. The stock was sold at an average price of $73.54, for a total value of $36,770.00. The disclosure for this sale can be found here. Insiders sold 41,233 shares of company stock worth $2,975,497 over the last ninety days. Insiders own 25.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in A-Mark Precious Metals by 4.1% during the first quarter. Renaissance Technologies LLC now owns 120,292 shares of the company’s stock worth $9,303,000 after acquiring an additional 4,779 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in A-Mark Precious Metals by 65.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 37,268 shares of the company’s stock worth $2,883,000 after acquiring an additional 14,752 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of A-Mark Precious Metals by 0.8% during the first quarter. Vanguard Group Inc. now owns 436,093 shares of the company’s stock valued at $33,727,000 after buying an additional 3,507 shares during the period. EAM Investors LLC boosted its position in shares of A-Mark Precious Metals by 0.7% during the first quarter. EAM Investors LLC now owns 34,681 shares of the company’s stock valued at $2,682,000 after buying an additional 241 shares during the period. Finally, Sei Investments Co. boosted its position in shares of A-Mark Precious Metals by 18.9% during the first quarter. Sei Investments Co. now owns 52,256 shares of the company’s stock valued at $4,041,000 after buying an additional 8,309 shares during the period. 43.08% of the stock is currently owned by institutional investors.

NASDAQ AMRK opened at $63.57 on Monday. The stock has a market capitalization of $731.94 million, a P/E ratio of 5.25 and a beta of -0.45. The company has a quick ratio of 0.57, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average is $76.25. A-Mark Precious Metals has a fifty-two week low of $42.20 and a fifty-two week high of $89.19.

A-Mark Precious Metals shares are going to split on the morning of Tuesday, June 7th. The 2-1 split was announced on Tuesday, June 7th. The newly issued shares will be distributed to shareholders after the market closes on Tuesday, June 7th.

A-Mark Precious Metals Company Profile (Get Rating)

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins.

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