Equities research analysts forecast that Ares Management LP (NYSE:ARES) will report sales of $197.50 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Ares Management’s earnings, with the lowest sales estimate coming in at $193.00 million and the highest estimate coming in at $202.00 million. Ares Management reported sales of $161.51 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 22.3%. The firm is scheduled to announce its next earnings results before the market opens on Thursday, February 15th.
According to Zacks, analysts expect that Ares Management will report full-year sales of $197.50 million for the current fiscal year, with estimates ranging from $744.00 million to $752.00 million. For the next financial year, analysts anticipate that the company will report sales of $831.00 million per share, with estimates ranging from $805.00 million to $857.00 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ares Management.
Ares Management (NYSE:ARES) last announced its earnings results on Friday, November 3rd. The asset manager reported $0.40 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. Ares Management had a net margin of 4.98% and a return on equity of 39.54%. The business had revenue of $283.67 million during the quarter, compared to the consensus estimate of $286.76 million. During the same quarter last year, the firm earned $0.45 earnings per share. The business’s revenue for the quarter was down 15.4% on a year-over-year basis.
Several brokerages recently weighed in on ARES. BidaskClub raised shares of Ares Management from a “hold” rating to a “buy” rating in a research report on Saturday, November 11th. Zacks Investment Research raised shares of Ares Management from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Monday, October 9th. Royal Bank of Canada set a $21.00 price target on shares of Ares Management and gave the company a “buy” rating in a research report on Wednesday, October 18th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $24.00 price target on shares of Ares Management in a research report on Thursday, January 11th. Finally, TheStreet downgraded shares of Ares Management from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $24.29.
A number of large investors have recently bought and sold shares of ARES. Royal Bank of Canada grew its position in Ares Management by 359.8% in the 2nd quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after purchasing an additional 7,700 shares during the period. Commerce Bank bought a new stake in Ares Management in the 3rd quarter worth approximately $205,000. Virtu KCG Holdings LLC bought a new stake in Ares Management in the 2nd quarter worth approximately $212,000. Goldman Sachs Group Inc. grew its position in Ares Management by 37.9% in the 2nd quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock worth $261,000 after purchasing an additional 3,982 shares during the period. Finally, Clinton Group Inc. bought a new stake in Ares Management in the 2nd quarter worth approximately $264,000. 16.07% of the stock is owned by institutional investors and hedge funds.
Shares of Ares Management (ARES) traded down $0.20 during midday trading on Friday, hitting $24.50. 55,338 shares of the company’s stock were exchanged, compared to its average volume of 176,444. Ares Management has a fifty-two week low of $17.25 and a fifty-two week high of $25.24. The company has a market capitalization of $2,030.62, a P/E ratio of 43.75, a price-to-earnings-growth ratio of 0.99 and a beta of 1.23. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.56.
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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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