AssetMark Financial (NYSE:AMK) Announces Earnings Results

AssetMark Financial (NYSE:AMK) posted its earnings results on Wednesday. The company reported $0.60 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.60, Briefing.com reports. AssetMark Financial had a net margin of 19.92% and a return on equity of 13.15%. The firm had revenue of $190.27 million during the quarter, compared to analyst estimates of $143.91 million. During the same quarter in the prior year, the business posted $0.53 EPS. The business’s revenue was up 11.7% compared to the same quarter last year.

AssetMark Financial Price Performance

Shares of AMK traded up $0.01 during midday trading on Friday, hitting $33.96. 470,625 shares of the company traded hands, compared to its average volume of 701,744. AssetMark Financial has a one year low of $22.92 and a one year high of $37.54. The firm has a market cap of $2.53 billion, a P/E ratio of 17.78 and a beta of 1.11. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.84 and a quick ratio of 3.84. The stock has a 50-day moving average of $35.19 and a 200-day moving average of $30.53.

Analyst Upgrades and Downgrades

Several research firms have weighed in on AMK. William Blair cut AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th. Raymond James raised their price objective on shares of AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. downgraded shares of AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price for the company. in a research report on Friday, April 26th.

AssetMark Financial Company Profile

AssetMark Financial Holdings, Inc, together with its subsidiaries, provides wealth management platform in the United States. It offers an open-architecture product platform, as well as client advice, asset allocation options, practice management, support services, and technology solutions to the financial adviser channel.