Victory Capital Q2 revenue rises 24%, beats estimates on higher AUM
VCTR•Guidance and key figures
The company did not provide specific financial guidance for the current quarter or full year.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $435.40 million | $386.09 million (5 Analysts) |
| Q2 EPS | $1.68 | ||
| Q2 Adjusted Net Income | Beat | $172.20 million | $146.78 million (4 Analysts) |
Analyst coverage and valuation
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the investment management & fund operators peer group is "buy."
Wall Street's median 12-month price target for Victory Capital Holdings, Inc. is $95.00, about 7.4% below its August 4 closing price of $102.62.
The stock recently traded at 13 times the next 12-month earnings, versus a P/E of 11 three months ago.
Quarterly results beat expectations
U.S. asset manager Victory Capital said second-quarter revenue rose 24% year over year, beating analyst expectations. Q2 adjusted net income also beat analyst expectations.
The company repurchased 1.1 million shares during the quarter.
