AssetMark Financial (NYSE:AMK) Releases Quarterly Earnings Results, Hits Estimates

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. The company had revenue of $190.27 million during the quarter, compared to analyst estimates of $143.91 million. AssetMark Financial had a return on equity of 13.15% and a net margin of 19.92%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.53 EPS.

AssetMark Financial Stock Up 0.0 %

NYSE:AMK traded up $0.01 during trading hours on Friday, reaching $33.96. 404,223 shares of the stock were exchanged, compared to its average volume of 297,267. AssetMark Financial has a twelve month low of $22.92 and a twelve month high of $37.54. 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 firm has a 50 day moving average of $35.19 and a 200 day moving average of $30.53. The stock has a market cap of $2.53 billion, a PE ratio of 17.78 and a beta of 1.11.

Analyst Upgrades and Downgrades

AMK has been the subject of several analyst reports. JPMorgan Chase & Co. lowered 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. Raymond James boosted their target price on AssetMark Financial from $39.00 to $41.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th. Finally, William Blair lowered AssetMark Financial from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 25th.

About AssetMark Financial

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.