Ares Management L.P. (ARES) Upgraded to Buy at BidaskClub
BidaskClub upgraded shares of Ares Management L.P. (NYSE:ARES) from a hold rating to a buy rating in a research report report published on Saturday morning.
Other equities analysts have also issued reports about the company. Zacks Investment Research upgraded Ares Management L.P. from a hold rating to a buy rating and set a $21.00 price objective on the stock in a research report on Monday, October 9th. Royal Bank Of Canada set a $21.00 price objective on Ares Management L.P. and gave the company 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. TheStreet lowered Ares Management L.P. from a b rating to a c+ rating in a research report on Wednesday. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $22.00 price objective on shares of Ares Management L.P. in a research report on Tuesday, September 5th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of Buy and a consensus price target of $21.00.
Shares of Ares Management L.P. (NYSE ARES) traded down $0.15 during midday trading on Friday, reaching $18.80. The company’s stock had a trading volume of 81,100 shares, compared to its average volume of 66,324. The company has a market cap of $1,545.57, a price-to-earnings ratio of 10.27, a P/E/G ratio of 0.78 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.37 and a quick ratio of 0.43. Ares Management L.P. has a fifty-two week low of $15.75 and a fifty-two week high of $23.25.
Ares Management L.P. (NYSE:ARES) last announced its earnings results on Friday, November 3rd. The asset manager reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.01. 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 39.54% and a net margin of 4.98%. The company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. sell-side analysts expect that Ares Management L.P. will post 1.8 EPS for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, November 16th. This is a boost from Ares Management L.P.’s previous quarterly dividend of $0.31. This represents a $1.64 annualized dividend and a yield of 8.72%. Ares Management L.P.’s dividend payout ratio is currently 221.43%.
A number of hedge funds have recently modified their holdings of ARES. Capital World Investors purchased a new stake in Ares Management L.P. during the 2nd quarter valued at about $9,649,000. PM CAPITAL Ltd purchased a new stake in Ares Management L.P. during the 3rd quarter valued at about $7,785,000. Morgan Stanley boosted its holdings in Ares Management L.P. by 96.0% during the 1st quarter. Morgan Stanley now owns 481,359 shares of the asset manager’s stock valued at $9,122,000 after acquiring an additional 235,816 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in Ares Management L.P. during the 2nd quarter valued at about $3,267,000. Finally, Royce & Associates LP boosted its holdings in Ares Management L.P. by 3.2% during the 2nd quarter. Royce & Associates LP now owns 3,761,776 shares of the asset manager’s stock valued at $67,712,000 after acquiring an additional 115,000 shares during the period. Institutional investors own 15.11% of the company’s stock.
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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