$281.25 Million in Sales Expected for Oaktree Capital Group, LLC (OAK) This Quarter

Equities research analysts expect Oaktree Capital Group, LLC (NYSE:OAK) to report sales of $281.25 million for the current quarter, Zacks reports. Four analysts have made estimates for Oaktree Capital Group’s earnings. The lowest sales estimate is $262.00 million and the highest is $310.72 million. Oaktree Capital Group reported sales of $365.01 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 22.9%. The business is expected to issue its next earnings results on Friday, October 27th.

According to Zacks, analysts expect that Oaktree Capital Group will report full-year sales of $281.25 million for the current year, with estimates ranging from $1.68 billion to $1.78 billion. For the next fiscal year, analysts forecast that the company will report sales of $1.66 billion per share, with estimates ranging from $1.62 billion to $1.78 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Oaktree Capital Group.

Oaktree Capital Group (NYSE:OAK) last posted its quarterly earnings data on Thursday, July 27th. The asset manager reported $1.73 EPS for the quarter, topping the consensus estimate of $1.47 by $0.26. Oaktree Capital Group had a return on equity of 20.11% and a net margin of 19.17%. The firm had revenue of $704.36 million for the quarter, compared to the consensus estimate of $592.84 million. During the same quarter last year, the company earned $0.79 earnings per share.

A number of equities analysts have issued reports on the company. Morgan Stanley reiterated an “overweight” rating and set a $54.00 price target (down previously from $56.00) on shares of Oaktree Capital Group in a research report on Monday, July 10th. Deutsche Bank AG increased their price target on Oaktree Capital Group from $44.00 to $45.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. BidaskClub downgraded Oaktree Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, July 6th. Jefferies Group LLC assumed coverage on Oaktree Capital Group in a research report on Wednesday, June 28th. They set a “hold” rating and a $49.00 price target on the stock. Finally, Goldman Sachs Group, Inc. (The) downgraded Oaktree Capital Group from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $50.00 to $49.00 in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $47.50.

Shares of Oaktree Capital Group (NYSE:OAK) opened at 47.45 on Wednesday. The company has a market cap of $3.05 billion, a P/E ratio of 10.35 and a beta of 0.60. Oaktree Capital Group has a 52 week low of $36.95 and a 52 week high of $48.50. The company’s 50-day moving average price is $47.38 and its 200 day moving average price is $45.68.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 11th. Shareholders of record on Monday, August 7th will be given a dividend of $1.31 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $5.24 dividend on an annualized basis and a yield of 11.04%. This is an increase from Oaktree Capital Group’s previous quarterly dividend of $0.71. Oaktree Capital Group’s dividend payout ratio is currently 114.66%.

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In other news, Director Ocm Growth Holdings Llc bought 909,443 shares of Oaktree Capital Group stock in a transaction on Monday, June 12th. The stock was acquired at an average price of $15.00 per share, with a total value of $13,641,645.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Several institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. boosted its position in shares of Oaktree Capital Group by 958.3% in the second quarter. Principal Financial Group Inc. now owns 1,159,853 shares of the asset manager’s stock worth $54,048,000 after buying an additional 1,050,259 shares during the last quarter. Ardevora Asset Management LLP purchased a new position in shares of Oaktree Capital Group during the second quarter worth approximately $34,596,000. Morgan Stanley boosted its position in shares of Oaktree Capital Group by 24.9% in the first quarter. Morgan Stanley now owns 1,984,724 shares of the asset manager’s stock worth $89,908,000 after buying an additional 395,918 shares during the last quarter. Bank of Montreal Can boosted its position in shares of Oaktree Capital Group by 341.7% in the second quarter. Bank of Montreal Can now owns 288,785 shares of the asset manager’s stock worth $13,458,000 after buying an additional 223,400 shares during the last quarter. Finally, ING Groep NV purchased a new position in shares of Oaktree Capital Group during the first quarter worth approximately $9,966,000. 23.23% of the stock is owned by institutional investors and hedge funds.

About Oaktree Capital Group

Oaktree Capital Group, LLC (Oaktree) is an investment manager specializing in alternative investments. The Company operates through investment management segment, which consists of the investment management services that the Company provides to its clients. The Company manages investments in a range of strategies within approximately six asset classes, which include corporate debt, convertible securities, distressed debt, control investing, real estate and listed equities.

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