Global alternative asset manager TPG (NASDAQ:TPG) will be announcing earnings results this Tuesday before market hours. Here’s what to look for.
TPG beat analysts’ revenue expectations last quarter, reporting revenues of $570 million, up 20.7% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates.
Is TPG a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting TPG’s revenue to grow 15.6% year on year, improving from the 5.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. TPG rarely misses Wall Street’s revenue estimates.
Looking at TPG’s peers in the asset management segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Blackstone delivered year-on-year revenue growth of 23.8%, beating analysts’ expectations by 10.9%, and Artisan Partners reported revenues up 8.9%, topping estimates by 2.3%. Blackstone traded up 5.8% following the results while Artisan Partners was down 1.3%.
Read our full analysis of Blackstone’s results here and Artisan Partners’s results here.
There has been positive sentiment among investors in the asset management segment, with share prices up 2.4% on average over the last month. TPG is up 2.5% during the same time and is heading into earnings with an average analyst price target of $55.13 (compared to the current share price of $43.66).
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