AssetMark Financial (NYSE:AMK) Issues Quarterly Earnings Results, Meets Expectations

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

AssetMark Financial Price Performance

AMK stock traded up $0.01 during trading on Friday, reaching $33.96. The company’s stock had a trading volume of 470,625 shares, compared to its average volume of 701,744. The company’s fifty day moving average is $35.19 and its 200-day moving average is $30.53. AssetMark Financial has a 1 year low of $22.92 and a 1 year high of $37.54. The company has a market capitalization of $2.53 billion, a P/E ratio of 17.78 and a beta of 1.11. The company has a quick ratio of 3.84, a current ratio of 3.84 and a debt-to-equity ratio of 0.07.

Analyst Upgrades and Downgrades

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

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.