J.P. Morgan Reports Janus Capital's 1Q11 Results

According to J.P. Morgan, Janus Capital Group

reported 1Q11 EPS of $0.21. J.P. Morgan said that excluding 1-time items, Janus earned $0.24 per share, beating its estimate by $0.03. “We maintain our Underweight rating, maintaining the thesis that the previous deterioration in fund performance and impact on future performance fees will keep earnings from growing, even if equity markets continue to grow at historic rates. We increase estimates based on lower stock based comp accruals, but maintain our Underweight rating.” Janus Capital Group closed the previous trading day at $12.68.