Oppenheimer set a $30.00 target price on Ares Management (NYSE:ARES) in a research note published on Monday morning. The firm currently has a buy rating on the asset manager’s stock. Oppenheimer also issued estimates for Ares Management’s Q2 2018 earnings at $0.45 EPS, Q3 2018 earnings at $0.49 EPS, Q4 2018 earnings at $0.50 EPS, FY2018 earnings at $1.81 EPS and FY2019 earnings at $2.06 EPS.
Other analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of Ares Management from a hold rating to a buy rating and set a $26.00 target price for the company in a report on Monday, January 15th. Keefe, Bruyette & Woods reiterated a buy rating and issued a $24.00 target price on shares of Ares Management in a report on Thursday, January 11th. Royal Bank of Canada set a $26.00 price target on shares of Ares Management and gave the company a buy rating in a research report on Thursday, February 15th. ValuEngine lowered shares of Ares Management from a strong-buy rating to a buy rating in a research report on Monday, April 2nd. Finally, UBS initiated coverage on shares of Ares Management in a research report on Monday, April 9th. They set a buy rating for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus target price of $27.50.
Shares of ARES stock opened at $22.05 on Monday. The stock has a market capitalization of $2.14 billion, a PE ratio of 11.42, a PEG ratio of 1.66 and a beta of 1.30. The company has a debt-to-equity ratio of 0.58, a current ratio of 0.16 and a quick ratio of 0.32. Ares Management has a one year low of $22.05 and a one year high of $22.20.
Ares Management (NYSE:ARES) last announced its earnings results on Thursday, May 3rd. The asset manager reported $0.37 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.01). The firm had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $267.10 million. Ares Management had a net margin of 10.99% and a return on equity of 38.94%. The business’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 EPS. equities research analysts anticipate that Ares Management will post 1.64 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a dividend of $0.28 per share. The ex-dividend date is Thursday, June 14th. This represents a $1.12 annualized dividend and a yield of 5.08%. This is a positive change from Ares Management’s previous quarterly dividend of $0.09. Ares Management’s dividend payout ratio is presently 19.17%.
A number of institutional investors and hedge funds have recently bought and sold shares of ARES. PM CAPITAL Ltd boosted its position in Ares Management by 95.8% during the fourth quarter. PM CAPITAL Ltd now owns 820,159 shares of the asset manager’s stock worth $16,403,000 after purchasing an additional 401,265 shares during the period. American Century Companies Inc. raised its stake in Ares Management by 0.8% in the fourth quarter. American Century Companies Inc. now owns 1,218,527 shares of the asset manager’s stock valued at $24,371,000 after purchasing an additional 9,989 shares in the last quarter. Wells Fargo & Company MN raised its stake in Ares Management by 43.7% in the fourth quarter. Wells Fargo & Company MN now owns 900,886 shares of the asset manager’s stock valued at $18,018,000 after purchasing an additional 273,890 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in Ares Management by 2.9% in the fourth quarter. Segall Bryant & Hamill LLC now owns 499,050 shares of the asset manager’s stock valued at $9,981,000 after purchasing an additional 14,300 shares in the last quarter. Finally, Delek Group Ltd. purchased a new stake in Ares Management in the fourth quarter valued at approximately $8,852,000. Institutional investors own 17.44% of the company’s stock.
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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