Analysts expect Ares Management L.P. (NYSE:ARES) to post earnings per share of $0.42 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ares Management L.P.’s earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.37. Ares Management L.P. posted earnings of $0.46 per share during the same quarter last year, which would indicate a negative year over year growth rate of 8.7%. The firm is scheduled to announce its next earnings report on Monday, November 6th.
According to Zacks, analysts expect that Ares Management L.P. will report full-year earnings of $1.84 per share for the current financial year, with EPS estimates ranging from $1.73 to $1.92. For the next financial year, analysts expect that the business will report earnings of $1.84 per share, with EPS estimates ranging from $1.65 to $1.98. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research analysts that follow Ares Management L.P..
Ares Management L.P. (NYSE:ARES) last announced its quarterly earnings results on Friday, August 4th. The asset manager reported $0.69 EPS for the quarter, hitting analysts’ consensus estimates of $0.69. Ares Management L.P. had a net margin of 5.86% and a return on equity of 40.94%. The firm had revenue of $554 million during the quarter, compared to analyst estimates of $442.10 million. During the same period in the previous year, the business posted $0.40 earnings per share. The business’s revenue for the quarter was up 49.9% on a year-over-year basis.
A number of brokerages have recently commented on ARES. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Ares Management L.P. in a research note on Tuesday, July 4th. Zacks Investment Research cut shares of Ares Management L.P. from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. BidaskClub cut shares of Ares Management L.P. from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Credit Suisse Group raised shares of Ares Management L.P. from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 11th. Finally, TheStreet raised shares of Ares Management L.P. from a “c” rating to a “b-” rating in a research note on Wednesday, April 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.57.
Shares of Ares Management L.P. (NYSE ARES) traded down 0.56% during mid-day trading on Friday, reaching $17.90. 120,024 shares of the company traded hands. The firm has a market capitalization of $3.83 billion, a price-to-earnings ratio of 23.96 and a beta of 1.25. The firm has a 50-day moving average price of $18.25 and a 200 day moving average price of $18.94. Ares Management L.P. has a 52 week low of $14.75 and a 52 week high of $23.25.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Friday, August 18th will be paid a dividend of $0.31 per share. This represents a $1.24 annualized dividend and a yield of 6.93%. The ex-dividend date is Wednesday, August 16th. This is a boost from Ares Management L.P.’s previous quarterly dividend of $0.13. Ares Management L.P.’s payout ratio is 71.23%.
A number of large investors have recently made changes to their positions in ARES. Virtu KCG Holdings LLC bought a new position in Ares Management L.P. during the second quarter valued at approximately $212,000. Balter Liquid Alternatives LLC bought a new position in Ares Management L.P. during the second quarter valued at approximately $264,000. Navellier & Associates Inc bought a new position in Ares Management L.P. during the first quarter valued at approximately $299,000. Bank of New York Mellon Corp raised its position in Ares Management L.P. by 79.8% in the second quarter. Bank of New York Mellon Corp now owns 18,827 shares of the asset manager’s stock valued at $338,000 after buying an additional 8,356 shares in the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Ares Management L.P. during the second quarter valued at approximately $479,000. 14.67% of the stock is currently owned by institutional investors.
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Ares Management L.P. Company Profile
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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