Fortress Investment Group LLC (NYSE:FIG) – Equities researchers at Oppenheimer Holdings increased their Q3 2016 earnings per share estimates for shares of Fortress Investment Group in a report released on Wednesday. Oppenheimer Holdings analyst C. Kotowski now expects that the firm will earn $0.26 per share for the quarter, up from their previous forecast of $0.25. Oppenheimer Holdings also issued estimates for Fortress Investment Group’s FY2016 earnings at $0.93 EPS and FY2017 earnings at $1.02 EPS.
A number of other research analysts have also recently issued reports on FIG. Zacks Investment Research cut shares of Fortress Investment Group from a “hold” rating to a “sell” rating in a research note on Tuesday, July 5th. Keefe, Bruyette & Woods lowered shares of Fortress Investment Group from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $6.50 to $5.50 in a report on Monday, July 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. Fortress Investment Group has a consensus rating of “Hold” and an average price target of $6.64.
Fortress Investment Group (NYSE:FIG) remained flat at $5.04 during mid-day trading on Friday. 137,599 shares of the company’s stock traded hands. Fortress Investment Group has a 12-month low of $3.87 and a 12-month high of $6.29. The firm has a 50-day moving average of $5.02 and a 200-day moving average of $4.89. The company has a market capitalization of $1.09 billion, a P/E ratio of 70.99 and a beta of 1.89.
Fortress Investment Group (NYSE:FIG) last released its earnings results on Thursday, July 28th. The company reported $0.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.08. The business earned $232 million during the quarter, compared to analysts’ expectations of $235.83 million. Fortress Investment Group’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.30 EPS.
Hedge funds have recently added to or reduced their stakes in the company. Williams Jones & Associates LLC acquired a new stake in Fortress Investment Group during the second quarter worth approximately $159,000. Royal Bank of Canada raised its stake in Fortress Investment Group by 37.6% in the second quarter. Royal Bank of Canada now owns 1,183,124 shares of the company’s stock worth $5,229,000 after buying an additional 323,332 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in Fortress Investment Group by 23.7% in the second quarter. Hillsdale Investment Management Inc. now owns 119,900 shares of the company’s stock worth $530,000 after buying an additional 23,000 shares in the last quarter. Stifel Financial Corp acquired a new stake in Fortress Investment Group during the second quarter worth approximately $149,000. Finally, National Asset Management Inc. raised its stake in Fortress Investment Group by 25.8% in the second quarter. National Asset Management Inc. now owns 24,900 shares of the company’s stock worth $111,000 after buying an additional 5,100 shares in the last quarter.
Fortress Investment Group Company Profile
Fortress Investment Group LLC (Fortress) is an investment management firm with approximately $70.5 billion in assets under management (AUM). The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle.
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