Wall Street analysts predict that Ares Management Corp (NYSE:ARES) will announce earnings per share of $0.52 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ares Management’s earnings. The highest EPS estimate is $0.57 and the lowest is $0.47. Ares Management posted earnings per share of $0.41 in the same quarter last year, which indicates a positive year over year growth rate of 26.8%. The firm is expected to report its next earnings results before the market opens on Thursday, February 13th.
On average, analysts expect that Ares Management will report full year earnings of $1.52 per share for the current financial year, with EPS estimates ranging from $1.49 to $1.58. For the next fiscal year, analysts expect that the firm will post earnings of $1.90 per share, with EPS estimates ranging from $1.87 to $1.94. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that follow Ares Management.
Ares Management (NYSE:ARES) last issued its earnings results on Thursday, October 31st. The asset manager reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Ares Management had a return on equity of 18.98% and a net margin of 7.76%. The firm had revenue of $466.49 million for the quarter, compared to analysts’ expectations of $312.15 million. During the same quarter in the previous year, the firm posted $0.30 EPS. The firm’s revenue for the quarter was up 93.7% compared to the same quarter last year.
ARES has been the subject of a number of research reports. Royal Bank of Canada reiterated a “buy” rating and set a $38.00 target price on shares of Ares Management in a report on Monday, January 6th. Zacks Investment Research upgraded Ares Management from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a report on Monday. BMO Capital Markets initiated coverage on Ares Management in a report on Monday, October 7th. They set a “market perform” rating for the company. Oppenheimer cut Ares Management from an “outperform” rating to a “market perform” rating in a report on Tuesday. Finally, Bank of America reiterated a “buy” rating and set a $33.00 target price on shares of Ares Management in a report on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $36.43.
Shares of NYSE:ARES traded up $0.45 during trading on Friday, reaching $37.28. 594,800 shares of the stock were exchanged, compared to its average volume of 445,483. 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 has a 12-month low of $19.66 and a 12-month high of $38.09. The firm has a market cap of $4.32 billion, a price-to-earnings ratio of 26.25, a price-to-earnings-growth ratio of 1.34 and a beta of 1.52. The firm’s 50-day moving average price is $34.60 and its 200 day moving average price is $30.35.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 17th were issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Monday, December 16th. This is a boost from Ares Management’s previous quarterly dividend of $0.09. Ares Management’s dividend payout ratio is currently 90.14%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its holdings in Ares Management by 41.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 493,541 shares of the asset manager’s stock worth $12,916,000 after acquiring an additional 145,797 shares during the period. State Street Corp boosted its holdings in Ares Management by 8.1% in the 3rd quarter. State Street Corp now owns 1,331,484 shares of the asset manager’s stock worth $35,697,000 after acquiring an additional 99,553 shares during the period. Point72 Asset Management L.P. purchased a new position in Ares Management in the 3rd quarter worth approximately $3,437,000. Waddell & Reed Financial Inc. boosted its holdings in Ares Management by 11.5% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 760,036 shares of the asset manager’s stock worth $19,890,000 after acquiring an additional 78,367 shares during the period. Finally, Metropolitan Life Insurance Co NY purchased a new position in Ares Management in the 3rd quarter worth approximately $593,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.
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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