Fortress Investment Group LLC Forecasted to Earn FY2016 Earnings of $0.91 Per Share (FIG)

Fortress Investment Group LLC (NYSE:FIG) – Research analysts at Oppenheimer Holdings lifted their FY2016 earnings per share (EPS) estimates for Fortress Investment Group in a report released on Sunday. Oppenheimer Holdings analyst C. Kotowski now forecasts that the firm will earn $0.91 per share for the year, up from their previous estimate of $0.89. Oppenheimer Holdings also issued estimates for Fortress Investment Group’s Q4 2016 earnings at $0.26 EPS, Q1 2017 earnings at $0.18 EPS and FY2017 earnings at $0.93 EPS.

A number of other equities analysts also recently issued reports on the company. Credit Suisse Group set a $6.00 price target on Fortress Investment Group and gave the company a “hold” rating in a research note on Monday, January 2nd. Zacks Investment Research upgraded Fortress Investment Group from a “hold” rating to a “buy” rating and set a $5.50 price target for the company in a research note on Tuesday, January 3rd. FIG Partners reiterated a “hold” rating on shares of Fortress Investment Group in a research note on Friday, November 4th. Finally, Keefe, Bruyette & Woods set a $6.00 price target on Fortress Investment Group and gave the company a “hold” rating in a research note on Saturday, October 15th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Fortress Investment Group has a consensus rating of “Hold” and a consensus price target of $6.71.

WARNING: “Fortress Investment Group LLC Forecasted to Earn FY2016 Earnings of $0.91 Per Share (FIG)” was first posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another website, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The original version of this story can be viewed at https://www.com-unik.info/2017/01/11/fortress-investment-group-llc-forecasted-to-earn-fy2016-earnings-of-0-91-per-share-fig.html.

Shares of Fortress Investment Group (NYSE:FIG) traded down 0.75% during mid-day trading on Wednesday, reaching $5.26. The company had a trading volume of 198,130 shares. The stock has a market capitalization of $1.14 billion, a P/E ratio of 26.43 and a beta of 1.71. Fortress Investment Group has a 12-month low of $3.87 and a 12-month high of $5.50. The firm’s 50 day moving average is $5.16 and its 200-day moving average is $4.99.

Fortress Investment Group (NYSE:FIG) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.19 by $0.04. The business had revenue of $261 million for the quarter, compared to analyst estimates of $249.25 million. Fortress Investment Group had a return on equity of 42.59% and a net margin of 10.21%. Fortress Investment Group’s quarterly revenue was down 1.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.15 EPS.

Several institutional investors have recently made changes to their positions in the company. Bank of Montreal Can acquired a new position in shares of Fortress Investment Group during the second quarter worth $2,740,000. Artemis Investment Management LLP increased its position in shares of Fortress Investment Group by 367.4% in the second quarter. Artemis Investment Management LLP now owns 2,400,000 shares of the company’s stock worth $10,620,000 after buying an additional 1,886,500 shares during the last quarter. Mraz Amerine & Associates Inc. increased its position in shares of Fortress Investment Group by 7.6% in the second quarter. Mraz Amerine & Associates Inc. now owns 99,460 shares of the company’s stock worth $440,000 after buying an additional 7,000 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Fortress Investment Group during the second quarter worth $333,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Fortress Investment Group by 37.2% in the second quarter. Tower Research Capital LLC TRC now owns 24,029 shares of the company’s stock worth $106,000 after buying an additional 6,514 shares during the last quarter. Hedge funds and other institutional investors own 30.28% of the company’s stock.

WARNING: “Fortress Investment Group LLC Forecasted to Earn FY2016 Earnings of $0.91 Per Share (FIG)” was first posted by Community Financial News and is owned by of Community Financial News. If you are viewing this story on another website, it was illegally copied and reposted in violation of US and international copyright & trademark laws. The original version of this story can be viewed at https://www.com-unik.info/2017/01/11/fortress-investment-group-llc-forecasted-to-earn-fy2016-earnings-of-0-91-per-share-fig.html.

About Fortress Investment Group

Fortress Investment Group LLC (Fortress) is an investment management firm with approximately $70.5 billion in assets under management (AUM). The Company operates through segments, including private equity funds, permanent capital vehicles, credit hedge funds, credit PE funds, liquid hedge funds and Logan Circle.

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