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Apollo Global Management (APO) Moves 5.7% Higher: Will This Strength Last?

Zacks Equity Research
·2-min read

Apollo Global Management Inc. (APO) shares soared 5.7% in the last trading session to close at $118.77. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 0.3% gain over the past four weeks.

Apollo Global Management witnesses a strong price increase as TD Cowen lifts its S&P 500 index inclusion weightage for the latter. TD Cowen noted that APO is the next most likely selection to the benchmark Index from the asset management industry given its platform scale and market cap.

This company is expected to post quarterly earnings of $1.79 per share in its upcoming report, which represents a year-over-year change of +5.3%. Revenues are expected to be $872.57 million, up 10% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

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For Apollo Global Management, the consensus EPS estimate for the quarter has been revised marginally lower over the last 30 days to the current level. And a negative trend in earnings estimate revisions doesn't usually translate into price appreciation. So, make sure to keep an eye on APO going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

Apollo Global Management belongs to the Zacks Financial - Investment Management industry. Another stock from the same industry, Great Elm Capital (GECC), closed the last trading session 0.6% lower at $10.19. Over the past month, GECC has returned -0.2%.

Great Elm Capital's consensus EPS estimate for the upcoming report has changed -2.9% over the past month to $0.33. Compared to the company's year-ago EPS, this represents a change of -25%. Great Elm Capital currently boasts a Zacks Rank of #5 (Strong Sell).

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Apollo Global Management Inc. (APO) : Free Stock Analysis Report

Great Elm Capital Group, Inc. (GECC) : Free Stock Analysis Report

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Zacks Investment Research