Ares Management L.P. (ARES) Posts Earnings Results, Beats Estimates By $0.01 EPS
Ares Management L.P. (NYSE:ARES) posted its earnings results on Friday. The asset manager reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01, Bloomberg Earnings reports. The business had revenue of $283.67 million for the quarter, compared to analyst estimates of $286.76 million. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The firm’s revenue was down 15.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.45 EPS.
Ares Management L.P. (ARES) opened at $18.75 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.63. The firm has a market cap of $1,540.24, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.77 and a beta of 1.23.
ARES has been the topic of a number of recent analyst reports. BidaskClub lowered Ares Management L.P. from a “hold” rating to a “sell” rating in a report on Saturday, September 9th. Zacks Investment Research raised Ares Management L.P. from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Monday, October 9th. Royal Bank Of Canada set a $21.00 target price on Ares Management L.P. and gave the stock a “buy” rating in a report on Saturday, August 5th. ValuEngine lowered Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 27th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $22.00 price objective on shares of Ares Management L.P. in a report on Tuesday, September 5th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $21.00.
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About Ares Management L.P.
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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