AllianceBernstein (NYSE:AB) Announces Quarterly Earnings Results

AllianceBernstein (NYSE:AB) issued its quarterly earnings results on Thursday. The asset manager reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.18, Zacks reports. AllianceBernstein had a return on equity of 16.23% and a net margin of 9.22%.

AllianceBernstein Stock Performance

AllianceBernstein stock opened at $36.00 on Friday. The business’s 50-day simple moving average is $37.25 and its two-hundred day simple moving average is $35.99. The company has a market cap of $4.15 billion, a PE ratio of 10.31, a PEG ratio of 0.81 and a beta of 1.21. AllianceBernstein has a fifty-two week low of $30.57 and a fifty-two week high of $41.37.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AB. Evercore ISI upped 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. Barclays cut their price objective on shares of AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a report on Monday, December 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $42.40.

About AllianceBernstein

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.