(Marketbeat) Brokerages expect SEI Investments to post $447.53 million in sales for the current fiscal quarter, Zacks Investment Research reports.
Four analysts have provided estimates for SEI's 1Q21 earnings. The highest sales estimate is $457.00 million and the lowest is $438.62 million. SEI Investments reported sales of $414.76 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.9%.
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Oppenheimer analyst Owen Lau maintained a Buy rating on SEI Investments Company on Sunday, setting a price target of $65, which is approximately 14.18% above the present share price of $56.93.
Lau expects SEI to post earnings per share of $0.76 for the first quarter of 2021.
On average, analysts expect that SEI Investments will report full year sales of $1.81 billion for the current year, with estimates ranging from $1.79 billion to $1.86 billion. For the next financial year, analysts anticipate that the company will post sales of $1.88 billion, with estimates ranging from $1.83 billion to $1.93 billion. Zacks' sales calculations are an average based on a survey of sell-side research analysts that cover SEI Investments.
SEI announced its quarterly earnings data on Tuesday, January 26th. The asset manager reported $0.86 EPS for the quarter, beating the Zacks' consensus estimate of $0.80 by $0.06. SEI Investments had a net margin of 27.06% and a return on equity of 26.05%. The firm had revenue of $443.72 million during the quarter, compared to the consensus estimate of $435.34 million. During the same quarter last year, the firm earned $0.84 earnings per share. The firm's revenue was up 4.8% compared to the same quarter last year.
Several analysts have recently issued reports on the stock. TheStreet raised shares of SEI Investments from a "c+" rating to a "b-" rating in a research note on Friday, November 27th. The Goldman Sachs Group started coverage on shares of SEI Investments in a research note on Wednesday, January 6th. They issued a "buy" rating and a $70.50 target price on the stock. Raymond James restated a "hold" rating on shares of SEI Investments in a research note on Monday, January 11th. Finally, Morgan Stanley boosted their price objective on shares of SEI Investments from $72.00 to $74.00 and gave the company an "equal weight" rating in a research report on Thursday. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. SEI Investments presently has an average rating of "Hold" and an average price target of $61.90.
