AllianceBernstein (NYSE:AB – Get Free Report) announced its quarterly earnings data on Thursday. The asset manager reported $1.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.18, Zacks reports. AllianceBernstein had a net margin of 9.22% and a return on equity of 16.23%.
AllianceBernstein Stock Down 9.8 %
Shares of AB stock opened at $36.00 on Friday. The firm has a market cap of $4.15 billion, a price-to-earnings ratio of 10.31, a PEG ratio of 0.81 and a beta of 1.21. AllianceBernstein has a 52-week low of $30.57 and a 52-week high of $41.37. The company’s 50 day moving average is $37.25 and its 200 day moving average is $35.99.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on AB. Barclays reduced their target price on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Monday, December 9th. Evercore ISI lifted their target price on AllianceBernstein from $43.00 to $45.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $42.40.
AllianceBernstein Company Profile
AllianceBernstein Holding L.P. is a publicly owned investment manager. The firm is a related adviser The firm manages separate client focused portfolios for its clients. The firm primarily invests in common and preferred stocks, warrants and convertible securities, government and corporate fxed-income securities, commodities, currencies, real estate-related assets and infation-protected securities.
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