Shares of Ares Management Corp (NYSE:ARES) have been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $29.43.
A number of brokerages have recently commented on ARES. Barclays set a $33.00 target price on shares of Ares Management and gave the company a “buy” rating in a report on Friday, November 1st. ValuEngine lowered shares of Ares Management from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. BMO Capital Markets began coverage on shares of Ares Management in a research report on Monday, October 7th. They set a “market perform” rating for the company. TheStreet raised shares of Ares Management from a “c+” rating to a “b” rating in a research note on Friday, August 16th. Finally, Royal Bank of Canada assumed coverage on shares of Ares Management in a report on Tuesday, November 12th. They issued an “outperform” rating and a $20.00 price objective on the stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ARES. BNP Paribas Arbitrage SA bought a new position in Ares Management in the 2nd quarter worth about $51,000. AGF Investments LLC purchased a new position in Ares Management in the second quarter worth about $53,000. Quantamental Technologies LLC bought a new position in shares of Ares Management in the second quarter worth approximately $71,000. Usca Ria LLC bought a new position in shares of Ares Management in the third quarter worth approximately $80,000. Finally, FNY Investment Advisers LLC bought a new position in shares of Ares Management in the third quarter worth approximately $99,000. 67.10% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE ARES traded up $0.68 during mid-day trading on Monday, hitting $34.15. 401,803 shares of the stock traded hands, compared to its average volume of 466,300. The company has a market cap of $3.92 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 1.67 and a beta of 1.50. The stock has a fifty day moving average price of $31.88 and a 200-day moving average price of $28.82. Ares Management has a 52 week low of $16.18 and a 52 week high of $34.21. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12.
Ares Management (NYSE:ARES) last posted its quarterly earnings data on Thursday, October 31st. The asset manager reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.03). The firm had revenue of $466.49 million during the quarter, compared to the consensus estimate of $312.15 million. Ares Management had a return on equity of 18.98% and a net margin of 7.76%. Ares Management’s revenue for the quarter was up 93.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.30 EPS. As a group, sell-side analysts predict that Ares Management will post 1.52 EPS for the current fiscal year.
The business also recently announced a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th will be issued a $0.32 dividend. This is an increase from Ares Management’s previous dividend of $0.09. The ex-dividend date is Monday, December 16th. Ares Management’s payout ratio is 90.14%.
About Ares Management
Ares Management Corporation 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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