Ares Management (NYSE:ARES) – Equities research analysts at Oppenheimer boosted their Q2 2018 earnings estimates for shares of Ares Management in a research report issued on Monday, May 7th. Oppenheimer analyst L. Rudary now anticipates that the asset manager will post earnings of $0.45 per share for the quarter, up from their previous forecast of $0.43. Oppenheimer currently has a “Buy” rating and a $30.00 target price on the stock. Oppenheimer also issued estimates for Ares Management’s 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.
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Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, May 3rd. The asset manager reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.01). Ares Management had a net margin of 10.99% and a return on equity of 38.94%. The firm had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $267.10 million. During the same period in the previous year, the business earned $0.32 earnings per share. The business’s revenue for the quarter was up 15.3% on a year-over-year basis.
A number of other equities research analysts have also recently commented on ARES. Zacks Investment Research cut Ares Management from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Morgan Stanley reiterated an “equal weight” rating and set a $24.00 target price (up previously from $20.00) on shares of Ares Management in a report on Thursday, March 1st. ValuEngine upgraded Ares Management from a “buy” rating to a “strong-buy” rating in a report on Thursday, February 15th. Wells Fargo cut Ares Management from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. They noted that the move was a valuation call. Finally, Royal Bank of Canada set a $26.00 target price on Ares Management and gave the company a “buy” rating in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Ares Management presently has a consensus rating of “Buy” and an average target price of $27.50.
NYSE ARES opened at $22.05 on Wednesday. Ares Management has a 1-year low of $22.05 and a 1-year high of $22.20. The company has a market capitalization of $2.14 billion, a P/E ratio of 11.42, a PEG ratio of 1.66 and a beta of 1.30. The company has a quick ratio of 0.32, a current ratio of 0.16 and a debt-to-equity ratio of 0.58.
Several hedge funds have recently bought and sold shares of the company. Alleghany Corp DE acquired a new stake in shares of Ares Management during the first quarter worth $208,650,000. American Century Companies Inc. boosted its holdings in shares of Ares Management by 19.8% during the first quarter. American Century Companies Inc. now owns 1,459,769 shares of the asset manager’s stock worth $31,239,000 after purchasing an additional 241,242 shares during the last quarter. PM CAPITAL Ltd boosted its holdings in shares of Ares Management by 43.0% during the first quarter. PM CAPITAL Ltd now owns 1,172,959 shares of the asset manager’s stock worth $25,101,000 after purchasing an additional 352,800 shares during the last quarter. Federated Investors Inc. PA acquired a new stake in shares of Ares Management during the first quarter worth $21,950,000. Finally, Wells Fargo & Company MN boosted its holdings in shares of Ares Management by 8.6% during the first quarter. Wells Fargo & Company MN now owns 978,537 shares of the asset manager’s stock worth $20,941,000 after purchasing an additional 77,651 shares during the last quarter. Institutional investors and hedge funds own 17.44% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Friday, June 15th will be issued a dividend of $0.28 per share. This is a boost from Ares Management’s previous quarterly dividend of $0.09. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.12 annualized dividend and a dividend yield of 5.08%. Ares Management’s dividend payout ratio (DPR) is 19.17%.
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.