Ares Management (NYSE:ARES) announced a dividend on Tuesday, February 13th, NASDAQ reports. Investors of record on Monday, April 16th will be given a dividend of 0.093 per share by the asset manager on Monday, April 30th. The ex-dividend date of this dividend is Friday, April 13th.
Ares Management has increased its dividend payment by an average of 39.1% per year over the last three years. Ares Management has a payout ratio of 90.1% meaning 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 $1.93 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 85.0%.
ARES opened at $20.90 on Friday. Ares Management has a 1-year low of $17.25 and a 1-year high of $25.95. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $1,729.66, a P/E ratio of 10.83, a price-to-earnings-growth ratio of 1.28 and a beta of 1.30.
A number of research firms recently weighed in on ARES. Zacks Investment Research cut Ares Management from a “hold” rating to a “sell” rating in a research note on Monday, March 5th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $24.00 price objective (up from $20.00) on shares of Ares Management in a report on Thursday, March 1st. Wells Fargo lowered Ares Management from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. They noted that the move was a valuation call. ValuEngine raised Ares Management from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 15th. Finally, Royal Bank of Canada set a $26.00 price objective on Ares Management and gave the company a “buy” rating in a report on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $25.50.
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Ares Management Company Profile
Ares Management, L.P. operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
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