AllianceBernstein (NYSE:AB) Issues Earnings Results

AllianceBernstein (NYSE:AB) issued its quarterly earnings results on Thursday. The asset manager reported $1.05 earnings per share for the quarter, topping the consensus estimate 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 Performance

Shares of AllianceBernstein stock traded down $3.18 on Thursday, hitting $36.72. 1,966,349 shares of the company traded hands, compared to its average volume of 548,754. The business has a 50-day simple moving average of $37.25 and a 200 day simple moving average of $35.99. AllianceBernstein has a 52 week low of $30.57 and a 52 week high of $41.37. The stock has a market capitalization of $4.23 billion, a P/E ratio of 10.52, a price-to-earnings-growth ratio of 0.81 and a beta of 1.21.

Wall Street Analyst Weigh In

Several research firms have recently commented on AB. Barclays decreased their price objective on AllianceBernstein from $39.00 to $36.00 and set an “equal weight” rating on the stock in a research note on Monday, December 9th. Evercore ISI upped their price target on shares of AllianceBernstein from $43.00 to $45.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, AllianceBernstein presently 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.