Ares Management L.P. (ARES) to Issue Quarterly Dividend of $0.41 on December 1st
Ares Management L.P. (NYSE:ARES) announced a quarterly dividend on Monday, November 6th, Wall Street Journal reports. Stockholders of record on Friday, November 17th will be paid a dividend of 0.41 per share by the asset manager on Friday, December 1st. This represents a $1.64 annualized dividend and a dividend yield of 8.72%. The ex-dividend date is Thursday, November 16th. This is a positive change from Ares Management L.P.’s previous quarterly dividend of $0.31.
Ares Management L.P. has a dividend payout ratio of 90.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities research analysts expect Ares Management L.P. to earn $1.81 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 90.6%.
Shares of Ares Management L.P. (ARES) opened at $18.80 on Friday. The stock has a market cap of $1,557.90, a PE ratio of 10.35, a PEG ratio of 0.78 and a beta of 1.23. Ares Management L.P. has a 1 year low of $15.75 and a 1 year high of $23.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.43 and a current ratio of 0.37.
Ares Management L.P. (NYSE:ARES) last issued its earnings results on Friday, November 3rd. The asset manager reported $0.40 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The firm had revenue of $283.67 million for the quarter, compared to analysts’ expectations of $286.76 million. Ares Management L.P. had a net margin of 4.98% and a return on equity of 39.54%. The firm’s revenue was down 15.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.45 earnings per share. research analysts expect that Ares Management L.P. will post 1.8 EPS for the current fiscal year.
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Several analysts recently weighed in on ARES shares. BidaskClub raised shares of Ares Management L.P. from a “sell” rating to a “hold” rating in a report on Wednesday, October 25th. Zacks Investment Research raised shares of 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 shares of Ares Management L.P. and gave the company a “buy” rating in a report on Saturday, August 5th. ValuEngine cut shares of 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 target price on shares of Ares Management L.P. in a report on Tuesday, September 5th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $21.00.
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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