Asset management firm WisdomTree (NYSE:WT) will be announcing earnings results this Friday before the bell. Here’s what investors should know.
WisdomTree beat analysts’ revenue expectations last quarter, reporting revenues of $147.4 million, up 33.4% year on year. It was an exceptional quarter for the company, with a beat of analysts’ EPS estimates and .
Is WisdomTree 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 WisdomTree’s revenue to grow 45.6% year on year, improving from the 12.1% 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 to stay the course heading into earnings. WisdomTree has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at WisdomTree’s peers in the custody bank segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Franklin Resources delivered year-on-year revenue growth of 8.7%, beating analysts’ expectations by 11.8%, and BNY reported revenues up 13.8%, topping estimates by 4.3%. Franklin Resources traded up 6.8% following the results while BNY was also up 2.4%.
Read our full analysis of Franklin Resources’s results here and BNY’s results here.
There has been positive sentiment among investors in the custody bank segment, with share prices up 9.1% on average over the last month. WisdomTree is up 11.3% during the same time and is heading into earnings with an average analyst price target of $19.18 (compared to the current share price of $16.36).
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