Financial services company Ameriprise Financial (NYSE: AMP) will be reporting results this Thursday morning. Here’s what to expect.
Ameriprise Financial beat analysts’ revenue expectations last quarter, reporting revenues of $4.90 billion, up 13% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates.
Is Ameriprise Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ameriprise Financial’s revenue to grow 6.8% year on year, slowing from the 8.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ameriprise Financial has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Ameriprise Financial’s peers in the asset management segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Artisan Partners delivered year-on-year revenue growth of 3.7%, beating analysts’ expectations by 1.4%, and Blackstone reported a revenue decline of 2.3%, topping estimates by 1.5%. Blackstone traded up 7.7% following the results.
Read our full analysis of Artisan Partners’s results here and Blackstone’s results here.
Investors in the asset management segment have had steady hands going into earnings, with share prices flat over the last month. Ameriprise Financial’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $554.64 (compared to the current share price of $492.14).
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