Calamos Asset Management
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Calamos Asset Management beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue shrank and GAAP earnings per share shrank to zero.
Gross margins increased, operating margins contracted, and net margins shrank.
Calamos Asset Management reported revenue of $82.4 million. The three analysts polled by S&P Capital IQ foresaw sales of $80.1 million. Sales were 4.3% lower than the prior-year quarter's $86.0 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
EPS came in at $0. The three earnings estimates compiled by S&P Capital IQ averaged $0.21 per share. GAAP EPS dropped to zero from the prior-year quarter's $0.29.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 74.0%, 1,730 basis points better than the prior-year quarter. Operating margin was 37.6%, 390 basis points worse than the prior-year quarter. Net margin was -0.1%, 680 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $80.5 million. On the bottom line, the average EPS estimate is $0.20.
Next year's average estimate for revenue is $325.7 million. The average EPS estimate is $0.81.
The stock has a three-star rating (out of five) at Motley Fool CAPS, with 74 members out of 83 rating the stock outperform, and nine members rating it underperform. Among 39 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 37 give Calamos Asset Management a green thumbs-up, and two give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Calamos Asset Management is hold, with an average price target of $11.50.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.