Ares Management L.P. (ARES) Rating Increased to Hold at BidaskClub
BidaskClub upgraded shares of Ares Management L.P. (NYSE:ARES) from a sell rating to a hold rating in a report released on Saturday.
ARES has been the topic of a number of other research reports. Credit Suisse Group upgraded shares of Ares Management L.P. from a neutral rating to an outperform rating in a report on Thursday, May 11th. Royal Bank Of Canada set a $21.00 price target on Ares Management L.P. and gave the stock a buy rating in a research report on Saturday, August 5th. ValuEngine lowered Ares Management L.P. from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Zacks Investment Research raised Ares Management L.P. from a hold rating to a buy rating and set a $20.00 price target for the company in a research report on Tuesday, July 11th. Finally, TheStreet lowered Ares Management L.P. from a b- rating to a c rating in a research report on Monday, June 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $21.57.
Shares of Ares Management L.P. (NYSE ARES) opened at 18.15 on Friday. Ares Management L.P. has a one year low of $14.75 and a one year high of $23.25. The company’s 50 day moving average is $18.21 and its 200-day moving average is $18.81. The firm has a market capitalization of $3.89 billion, a price-to-earnings ratio of 24.30 and a beta of 1.25.
Ares Management L.P. (NYSE:ARES) last announced its earnings results on Friday, August 4th. The asset manager reported $0.69 EPS for the quarter, meeting the Zacks’ consensus estimate 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 for the quarter, compared to analysts’ expectations of $442.10 million. During the same quarter in the previous year, the business posted $0.40 EPS. The company’s quarterly revenue was up 49.9% on a year-over-year basis. Equities analysts expect that Ares Management L.P. will post $1.84 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Friday, August 18th will be given a $0.31 dividend. This represents a $1.24 annualized dividend and a dividend yield of 6.83%. The ex-dividend date is Wednesday, August 16th. This is a positive change from Ares Management L.P.’s previous quarterly dividend of $0.13. Ares Management L.P.’s payout ratio is currently 169.86%.
Several institutional investors have recently bought and sold shares of the company. Royce & Associates LP raised its position in Ares Management L.P. by 3.2% in the second quarter. Royce & Associates LP now owns 3,761,776 shares of the asset manager’s stock valued at $67,712,000 after buying an additional 115,000 shares in the last quarter. OppenheimerFunds Inc. raised its position in Ares Management L.P. by 41.0% in the first quarter. OppenheimerFunds Inc. now owns 1,305,908 shares of the asset manager’s stock valued at $24,747,000 after buying an additional 379,418 shares in the last quarter. American Century Companies Inc. raised its position in Ares Management L.P. by 9.5% in the first quarter. American Century Companies Inc. now owns 1,181,639 shares of the asset manager’s stock valued at $22,392,000 after buying an additional 102,837 shares in the last quarter. EJF Capital LLC acquired a new position in shares of Ares Management L.P. during the first quarter worth $14,551,000. Finally, Wells Fargo & Company MN raised its position in shares of Ares Management L.P. by 2.7% in the second quarter. Wells Fargo & Company MN now owns 568,780 shares of the asset manager’s stock worth $10,239,000 after buying an additional 14,926 shares during the period. 14.71% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Ratings for Ares Management L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.