AllianceBernstein (AB) to Release Earnings on Thursday

AllianceBernstein (NYSE:AB) will release its earnings data after the market closes on Thursday, April 25th. Analysts expect AllianceBernstein to post earnings of $0.70 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

AllianceBernstein (NYSE:AB) last posted its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.77 earnings per share for the quarter, topping analysts’ consensus estimates of $0.63 by $0.14. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $857.85 million. AllianceBernstein had a return on equity of 14.88% and a net margin of 6.36%. The business’s quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the business earned $0.70 EPS. On average, analysts expect AllianceBernstein to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

AllianceBernstein Stock Down 0.8 %

AB stock opened at $32.43 on Thursday. AllianceBernstein has a 12 month low of $25.83 and a 12 month high of $36.97. The firm has a 50 day moving average of $33.63 and a two-hundred day moving average of $31.54. The company has a market capitalization of $3.71 billion, a price-to-earnings ratio of 13.92, a P/E/G ratio of 0.63 and a beta of 1.25.

AllianceBernstein Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 14th. Stockholders of record on Tuesday, February 20th were paid a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 9.50%. This is a boost from AllianceBernstein’s previous quarterly dividend of $0.65. The ex-dividend date of this dividend was Friday, February 16th. AllianceBernstein’s payout ratio is presently 132.19%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on AB shares. Evercore ISI restated a “buy” rating and issued a $38.00 price objective on shares of AllianceBernstein in a research note on Tuesday, March 12th. TheStreet raised shares of AllianceBernstein from a “c” rating to a “b-” rating in a research report on Friday, March 8th. Finally, TD Cowen reissued a “buy” rating and set a $40.00 target price on shares of AllianceBernstein in a research report on Tuesday, April 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, AllianceBernstein has a consensus rating of “Moderate Buy” and an average target price of $40.44.

Hedge Funds Weigh In On AllianceBernstein

Several institutional investors have recently modified their holdings of AB. Mercer Global Advisors Inc. ADV acquired a new stake in AllianceBernstein in the third quarter valued at $231,000. Vident Advisory LLC acquired a new position in AllianceBernstein during the fourth quarter worth approximately $228,000. Regal Investment Advisors LLC bought a new stake in AllianceBernstein in the fourth quarter valued at approximately $219,000. Freestone Capital Holdings LLC acquired a new stake in shares of AllianceBernstein in the first quarter valued at approximately $207,000. Finally, Captrust Financial Advisors boosted its stake in shares of AllianceBernstein by 137.8% during the 2nd quarter. Captrust Financial Advisors now owns 4,917 shares of the asset manager’s stock worth $204,000 after acquiring an additional 2,849 shares during the period. Institutional investors own 19.25% of the company’s stock.

AllianceBernstein Company Profile

AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.