Ameriprise Q3 Adjusted EPS of $11.26 Misses $11.70 Consensus Despite 7.2% Revenue Growth
AMP sits 17% above its 52-week low of $422.37.
Summary
Adjusted operating EPS came in at $11.26, below the $11.70 mean estimate from thirteen analysts, though it was up from $9.87 a year earlier. GAAP EPS was $12.32 versus $9.33 last year, and net income reached $1.13 billion. Revenue rose 7.2% to $5.08 billion, slightly ahead of the $5.05 billion consensus. The miss lands three weeks after BofA downgraded the stock to Underperform with a $445 target, and four analysts have cut estimates in the past 30 days. The $5.5 billion buyback announced September 29th remains the main support for the capital-return story.
At the time of this announcement, AMP was trading at $493.87 on NYSE in the Finance sector, with a market capitalization of approximately $43.6B. The 52-week trading range was $422.37 to $572.56. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Reuters.