Growth Has Been Good to Gabelli
Gabelli Asset Management expects to beat fourth-quarter consensus earnings estimates.
Gabelli Asset Management rode the surging tide of growth stocks to better-than-expected returns in 1999.
Thanks to exceptional performance at funds such as Gabelli Growth (GABGX), which gained 46%, and Gabelli Global Telecommunications (GABTX), up 80%, the company expects to report earnings of $0.46 per share in mid-February. That would be 31% higher than the First Call consensus analyst estimate for the quarter. It's also 31% higher than the comparable figure for 1998. Mutual funds typically don't post returns of 40% or more, however, so the company is unlikely to maintain such strong performance.
Olivia Barbee does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.