Analysts expect Ares Management LP (NYSE:ARES) to report earnings per share (EPS) of $0.39 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ares Management’s earnings. The lowest EPS estimate is $0.33 and the highest is $0.44. Ares Management reported earnings per share of $0.08 in the same quarter last year, which would indicate a positive year-over-year growth rate of 387.5%. The business is expected to report its next quarterly earnings results before the market opens on Monday, May 8th.
According to Zacks, analysts expect that Ares Management will report full-year earnings of $1.77 per share for the current year, with EPS estimates ranging from $1.71 to $1.82. For the next fiscal year, analysts forecast that the firm will post earnings of $1.94 per share, with EPS estimates ranging from $1.79 to $2.06. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Ares Management.
Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, February 24th. The asset manager reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The firm earned $358.20 million during the quarter, compared to analysts’ expectations of $169.45 million. Ares Management had a return on equity of 25.44% and a net margin of 7.79%. The business’s revenue for the quarter was up 124.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 earnings per share.
Several equities research analysts recently issued reports on ARES shares. Wells Fargo & Co reiterated an “outperform” rating on shares of Ares Management in a research note on Sunday, January 8th. Zacks Investment Research upgraded shares of Ares Management from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Tuesday, January 10th. Credit Suisse Group AG started coverage on shares of Ares Management in a research note on Wednesday, January 25th. They issued a “neutral” rating and a $21.00 target price for the company. SunTrust Banks, Inc. raised their target price on shares of Ares Management from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Monday, February 27th. Finally, Keefe, Bruyette & Woods downgraded shares of Ares Management from an “outperform” rating to a “market perform” rating and raised their target price for the company from $21.00 to $24.00 in a research note on Monday, February 27th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.86.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARES. Wells Fargo & Company MN boosted its position in Ares Management by 2,147.5% in the third quarter. Wells Fargo & Company MN now owns 42,972 shares of the asset manager’s stock valued at $748,000 after buying an additional 41,060 shares in the last quarter. Raiff Partners Inc. bought a new position in Ares Management during the fourth quarter valued at $384,000. Navellier & Associates Inc bought a new position in Ares Management during the first quarter valued at $299,000. Finally, BlackRock Advisors LLC boosted its position in Ares Management by 1.9% in the third quarter. BlackRock Advisors LLC now owns 209,184 shares of the asset manager’s stock valued at $3,642,000 after buying an additional 4,000 shares in the last quarter. 10.38% of the stock is currently owned by hedge funds and other institutional investors.
Ares Management (NYSE:ARES) traded down 0.52% during mid-day trading on Tuesday, reaching $19.20. The company had a trading volume of 54,280 shares. Ares Management has a 12 month low of $12.08 and a 12 month high of $23.25. The firm’s 50-day moving average price is $18.96 and its 200-day moving average price is $18.43. The stock has a market cap of $4.11 billion, a PE ratio of 15.99 and a beta of 1.18.
The business also recently declared a quarterly dividend, which was paid on Friday, March 24th. Shareholders of record on Friday, March 10th were issued a $0.28 dividend. This is a boost from Ares Management’s previous quarterly dividend of $0.20. This represents a $1.12 annualized dividend and a yield of 5.80%. The ex-dividend date was Wednesday, March 8th. Ares Management’s dividend payout ratio is currently 94.12%.
About Ares Management
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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