Apollo Global Management, Inc. (APO) is a leading provider of alternative asset management and retirement solutions. The New York-based PE firm focuses on building and financing businesses through innovative capital solutions that can generate excess risk-adjusted returns. Valued at $95.8 billion by market cap, Apollo invests across numerous asset classes and geographies.
The asset manager is set to announce its fourth-quarter results before the market opens on Tuesday, Feb. 4. Ahead of the event, expect Apollo to report a non-GAAP profit of $1.76 per share, marginally up from $1.75 per share reported in the year-ago quarters. While the company has surpassed the analysts’ earnings estimates once over the past four quarters, it has missed the estimates on three other occasions.
For the full fiscal 2024, Apollo is expected to generate an adjusted EPS of $6.67, marking a 9.3% increase from $6.10 reported in the previous fiscal. While in fiscal 2025, its earnings are expected to surge 20.4% year-over-year to $8.03 per share.
APO stock has soared 69.1% over the past 52-week period, substantially outperforming the S&P 500 Index’s ($SPX) 22.6% surge and the Financial Select Sector SPDR Fund’s (XLF) 32.3% returns during the same time frame.
Apollo Asset Management’s stock prices soared 7.1% after the release of its impressive Q3 results on Nov. 5 and 9.7% in the following trading session. The company has continued to observe robust growth across its businesses. At the end of the quarter, its AUM stood at a staggering $733 billion benefiting from $151 billion of capital inflows over the TTM and representing a remarkable 16.2% year-over-year growth. Meanwhile, driven by improvement in investment-related gains, Apollo’s total revenues surged to $7.8 billion, exceeding the Street’s expectations.
Furthermore, driven by strong capital inflow its fee-related earnings soared 12.5% year-over-year to a record $531 million and driven by robust organic growth trends and solid levels of profitability it delivered the second highest quarter of spread-related earnings amounting to $856 million. Its adjusted net income for the quarter increased 8.3% year-over-year to over $1.1 billion.
The consensus opinion on Apollo is strongly bullish, with an overall “Strong Buy” rating. Out of the 21 analysts covering the stock, 15 recommend “Strong Buy,” one advises “Moderate Buy,” and five suggest a “Hold” rating. Its mean price target of $183.37 represents a modest 7.2% premium to current price levels.
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