- The team's estimates are almost universally higher than Street consensus, averaging 3.1% above over 16 covered names.
- The largest differential is for Gamco Investos (GBL), with BAML now seeing EPS of $1.61 in the December quarter vs. $1.30 previously and $1.30 for the Street. Calamos (CLMS) is lifted to $0.15 vs. $0.12 previously, and consensus of $0.14. Janus Capital (JNS) is seen at $0.20 vs. $0.19 previously and consensus $0.18.
- Among those whose estimates are cut are BlackRock, now at $4.40 vs. $4.55 previously, but still ahead of the Street at $4.34. Legg Mason (LM) is reduced to $0.62 vs. $0.71 previously and consensus $0.61.
- Earlier this morning: Legg Mason guides to $0.65-$0.68 for the Dec. quarter.
- Other names mentioned in the BAML report: BEN, IVZ, TROW, AB, AMG, FII, WDR, APAM, CNS, MN, WETF.
BAML tweaks asset manger estimates
Jan 13 2014, 07:49 ET