Affiliated Managers Group (AMG): Buy, Sell, or Hold Post Q3 Earnings?

What a fantastic six months it’s been for Affiliated Managers Group. Shares of the company have skyrocketed 50.4%, hitting $319.80. This run-up might have investors contemplating their next move.

Is now the time to buy Affiliated Managers Group, or should you be careful about including it in your portfolio? Check out our in-depth research report to see what our analysts have to say, it’s free.

Why Is Affiliated Managers Group Not Exciting?

We’re happy investors have made money, but we're swiping left on Affiliated Managers Group for now. Here are two reasons why AMG doesn't excite us and a stock we'd rather own.

1. Long-Term Revenue Growth Flatter Than a Pancake

A company’s long-term sales performance is one signal of its overall quality. Any business can put up a good quarter or two, but the best consistently grow over the long haul.

Unfortunately, Affiliated Managers Group struggled to consistently increase demand as its $2.04 billion of revenue for the trailing 12 months was close to its revenue five years ago. This was below our standards and signals it’s a lower quality business.

2. Recent EPS Growth Below Our Standards

While long-term earnings trends give us the big picture, we also track EPS over a shorter period because it can provide insight into an emerging theme or development for the business.

Affiliated Managers Group’s EPS grew at an unimpressive 7.8% compounded annual growth rate over the last two years. On the bright side, this performance was higher than its 1.3% annualized revenue declines and tells us management adapted its cost structure in response to a challenging demand environment.

Final Judgment

Affiliated Managers Group’s business quality ultimately falls short of our standards. Following the recent surge, the stock trades at 11.2× forward P/E (or $319.80 per share). This valuation is reasonable, but the company’s shakier fundamentals present too much downside risk. We're fairly confident there are better investments elsewhere. Let us point you toward an all-weather company that owns household favorite Taco Bell.

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