Ares Management LP Unit (NYSE:ARES) – Stock analysts at Jefferies Financial Group reduced their Q4 2018 EPS estimates for Ares Management LP Unit in a research note issued to investors on Friday, November 2nd. Jefferies Financial Group analyst G. O’hara now anticipates that the asset manager will post earnings of $0.34 per share for the quarter, down from their prior estimate of $0.46. Jefferies Financial Group also issued estimates for Ares Management LP Unit’s Q1 2019 earnings at $0.35 EPS, Q2 2019 earnings at $0.37 EPS and Q4 2019 earnings at $0.40 EPS.
Ares Management LP Unit (NYSE:ARES) last issued its quarterly earnings data on Thursday, November 1st. The asset manager reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.08). The business had revenue of $240.78 million during the quarter, compared to the consensus estimate of $240.75 million. Ares Management LP Unit had a return on equity of 28.88% and a net margin of 7.93%. Ares Management LP Unit’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share.
A number of other research analysts have also recently commented on the company. ValuEngine upgraded Ares Management LP Unit from a “hold” rating to a “buy” rating in a research note on Wednesday, September 19th. Morgan Stanley raised their target price on Ares Management LP Unit from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, October 9th. Bank of America raised their target price on Ares Management LP Unit from $26.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, September 17th. JPMorgan Chase & Co. restated a “$21.50” rating and issued a $23.00 target price on shares of Ares Management LP Unit in a research note on Monday, July 23rd. Finally, Zacks Investment Research upgraded Ares Management LP Unit from a “sell” rating to a “hold” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $26.75.
Shares of ARES stock opened at $21.15 on Monday. The company has a market capitalization of $2.07 billion, a PE ratio of 10.96, a price-to-earnings-growth ratio of 1.77 and a beta of 1.37. Ares Management LP Unit has a fifty-two week low of $18.00 and a fifty-two week high of $25.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.04.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Monday, December 17th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.30%. The ex-dividend date is Friday, December 14th. Ares Management LP Unit’s payout ratio is presently 58.03%.
In other news, CFO Michael R. Mcferran bought 7,500 shares of the stock in a transaction dated Monday, August 13th. The stock was 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 SEC, which can be accessed through the SEC website.
Large investors have recently made changes to their positions in the business. Algebris UK Ltd purchased a new position in Ares Management LP Unit during the second quarter valued at $3,990,000. Renaissance Technologies LLC raised its stake in Ares Management LP Unit by 46.9% during the second quarter. Renaissance Technologies LLC now owns 92,112 shares of the asset manager’s stock valued at $1,907,000 after buying an additional 29,405 shares during the last quarter. Raymond James & Associates raised its stake in Ares Management LP Unit by 81.7% during the second quarter. Raymond James & Associates now owns 38,801 shares of the asset manager’s stock valued at $803,000 after buying an additional 17,444 shares during the last quarter. UBS Group AG raised its stake in Ares Management LP Unit by 16.2% during the first quarter. UBS Group AG now owns 205,410 shares of the asset manager’s stock valued at $4,396,000 after buying an additional 28,676 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in Ares Management LP Unit by 14.5% during the second quarter. American Century Companies Inc. now owns 1,671,518 shares of the asset manager’s stock valued at $34,600,000 after buying an additional 211,749 shares during the last quarter. Institutional investors and hedge funds own 40.23% of the company’s stock.
About Ares Management LP Unit
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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