Ares Management LP Unit (NYSE:ARES) declared a quarterly dividend on Friday, November 2nd, Wall Street Journal reports. Shareholders of record on Monday, December 17th will be given a dividend of 0.28 per share by the asset manager on Monday, December 31st. This represents a $1.12 annualized dividend and a yield of 5.33%. The ex-dividend date of this dividend is Friday, December 14th.
Ares Management LP Unit has raised its dividend by an average of 39.1% annually over the last three years. Ares Management LP Unit has a dividend payout ratio of 72.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Ares Management LP Unit to earn $1.94 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 57.7%.
ARES stock opened at $21.03 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 10.90, a PEG ratio of 1.60 and a beta of 1.36. Ares Management LP Unit has a fifty-two week low of $18.00 and a fifty-two week high of $25.95.
Ares Management LP Unit (NYSE:ARES) last posted its quarterly earnings data on Thursday, November 1st. The asset manager reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.08). The firm had revenue of $240.78 million for the quarter, compared to the consensus estimate of $240.75 million. Ares Management LP Unit had a return on equity of 30.98% and a net margin of 8.70%. The firm’s quarterly revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. As a group, equities analysts expect that Ares Management LP Unit will post 1.51 EPS for the current fiscal year.
In related news, CFO Michael R. Mcferran purchased 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were bought at an average price of $21.21 per share, for a total transaction of $159,075.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Several research firms have weighed in on ARES. Oppenheimer set a $28.00 price objective on Ares Management LP Unit and gave the stock a “buy” rating in a research report on Friday. Zacks Investment Research cut Ares Management LP Unit from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. JPMorgan Chase & Co. reiterated a “$21.50” rating and set a $23.00 price objective on shares of Ares Management LP Unit in a research report on Monday, July 23rd. ValuEngine upgraded Ares Management LP Unit from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Finally, Wells Fargo & Co upgraded Ares Management LP Unit from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $26.75.
Ares Management LP Unit 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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