AssetMark Financial (NYSE:AMK) Announces Earnings Results

AssetMark Financial (NYSE:AMK) released its quarterly earnings data on Wednesday. The company reported $0.60 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.60, Briefing.com reports. AssetMark Financial had a return on equity of 13.15% and a net margin of 19.92%. 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 firm posted $0.53 earnings per share. The business’s quarterly revenue was up 11.7% compared to the same quarter last year.

AssetMark Financial Trading Up 0.0 %

Shares of AMK traded up $0.01 during trading hours on Friday, reaching $33.96. 470,625 shares of the company traded hands, compared to its average volume of 701,744. AssetMark Financial has a 12 month low of $22.92 and a 12 month high of $37.54. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.07. The company’s fifty day moving average price is $35.19 and its two-hundred day moving average price is $30.53. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 17.78 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on AMK. Raymond James raised their price target 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. JPMorgan Chase & Co. cut AssetMark Financial from an “overweight” rating to a “neutral” rating and set a $37.00 target price on the stock. in a research note on Friday, April 26th. Finally, William Blair lowered AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th.

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.