Ares Management Corporation (NYSE:ARES) Announces $1.35 Quarterly Dividend

Ares Management Corporation (NYSE:ARES) announced a quarterly dividend on Friday, July 31st. Investors of record on Wednesday, September 16th will be given a dividend of 1.35 per share by the asset manager on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date is Wednesday, September 16th.

Ares Management has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Ares Management has a dividend payout ratio of 83.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Ares Management to earn $7.33 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 73.7%.

Ares Management Stock Performance

NYSE:ARES opened at $128.31 on Friday. The company has a market cap of $42.32 billion, a price-to-earnings ratio of 59.68, a PEG ratio of 1.11 and a beta of 1.51. Ares Management has a 1 year low of $95.80 and a 1 year high of $195.26. The stock’s 50 day simple moving average is $123.83 and its two-hundred day simple moving average is $123.97. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.23 and a quick ratio of 0.23.

Ares Management (NYSE:ARES) last released its earnings results on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.01. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The firm had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business earned $1.03 EPS. The business’s revenue was up 5.8% on a year-over-year basis. As a group, equities analysts anticipate that Ares Management will post 5.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ARES has been the subject of a number of recent analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a research note on Tuesday, May 26th. Keefe, Bruyette & Woods raised Ares Management to a “hold” rating in a research report on Monday, July 20th. Citigroup restated an “outperform” rating on shares of Ares Management in a report on Thursday, July 9th. The Goldman Sachs Group lowered their price target on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a research report on Tuesday, April 7th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Ares Management in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Ares Management currently has a consensus rating of “Moderate Buy” and an average target price of $158.93.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high?net?worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.