|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||7.54 - 7.54|
|52 Week Range||5.10 - 7.58|
|Beta (5Y Monthly)||1.31|
|PE Ratio (TTM)||26.74|
|Forward Dividend & Yield||0.22 (3.03%)|
|Ex-Dividend Date||Mar 04, 2020|
|1y Target Est||N/A|
ASHMORE GROUP (AJMPF) has been upgraded to a Zacks Rank 2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
In a note on European asset managers, JPMorgan Cazenove said leading indicators support a net flow recovery while valuations are already factoring in a significant pickup in assets under management. "Based on the current 1-year forward PE multiple premium vs. the 1-year average, period end AUM across the sector on average would need to be about 12% higher vs. our base case to justify the premium, assuming no re-rating," the broker said. It moved Quilter to overweight from not being rated, and downgraded Standard Life Aberdeen to neutral from overweight.
British emerging markets investor Ashmore Group is betting that Argentina's current crisis, that has seen the country veer towards default, is not as bad as it looks. The investment manager is buying Argentina's dollar bonds in the belief the clear favourite to win next month's general election, Alberto Fernandez, will be less radical in overhauling the government's debt than markets now expect, one of its executives said on Wednesday. Argentina's bonds and currency plummeted to record lows last month as investors fled after left-leaning Peronist Fernandez heavily defeated President Mauricio Macri in a primary election, prompting the market-friendly incumbent to unveil plans to delay debt payments and impose currency controls.