Manning & Napier, Inc. (NYSE:MN) issued its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.12 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.12, Briefing.com reports. The business had revenue of $51.53 million during the quarter, compared to the consensus estimate of $50.22 million. Manning & Napier had a net margin of 3.41% and a return on equity of 34.28%. The company’s revenue was down 20.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.17 earnings per share.
Manning & Napier (MN) traded down 4.29% on Friday, hitting $3.35. 211,200 shares of the company traded hands. Manning & Napier has a 12 month low of $3.35 and a 12 month high of $8.15. The stock’s 50-day moving average is $4.00 and its 200 day moving average is $5.11. The stock has a market cap of $50.51 million, a PE ratio of 6.37 and a beta of 1.40.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Friday, October 13th will be given a dividend of $0.08 per share. The ex-dividend date is Thursday, October 12th. This represents a $0.32 annualized dividend and a dividend yield of 9.55%. Manning & Napier’s dividend payout ratio (DPR) is presently 60.38%.
A number of brokerages have weighed in on MN. ValuEngine downgraded shares of Manning & Napier from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $4.00 price objective on shares of Manning & Napier in a research report on Thursday, August 3rd. Finally, Zacks Investment Research upgraded shares of Manning & Napier from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company presently has an average rating of “Hold” and an average price target of $6.08.
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About Manning & Napier
Manning & Napier, Inc is an independent investment management company. The Company operates through investment management industry segment. It provides a range of investment solutions through separately managed accounts, mutual funds and collective investment trust funds, as well as a range of consultative services.
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