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Apollo Global Management, Inc. (APO) Moves 7.1% Higher: Will This Strength Last?

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Apollo Global Management, Inc. (APO) shares rallied 7.1% in the last trading session to close at $73.18. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 16.9% gain over the past four weeks.

Bullish investor sentiments surrounding its strategic long-term financial targets, as underlined at its Investor Day 2021, drove Apollo Global’s share price in yesterday’s trading. Over the next five years, the company aims to double its assets under management to around $1 trillion from the current levels. Also, it aims to increase fee revenues by 2.25 times and an additional $15 billion of capital generation to supercharge its growth and return to shareholders. Of this, it intends to return $10 billion to shareholders via dividends and share buybacks.

This company is expected to post quarterly earnings of $1.09 per share in its upcoming report, which represents a year-over-year change of +131.9%. Revenues are expected to be $559.01 million, up 11.6% 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.

For Apollo Global Management, Inc., the consensus EPS estimate for the quarter has been revised 4.1% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates 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 >>>>


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