Ares Management (NYSE:ARES) Issues Earnings Results, Misses Expectations By $0.13 EPS

Ares Management (NYSE:ARES) released its earnings results on Thursday. The asset manager reported $0.80 earnings per share for the quarter, missing the consensus estimate of $0.93 by ($0.13), Briefing.com reports. The company had revenue of $707.36 million during the quarter, compared to analyst estimates of $814.88 million. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. During the same period in the previous year, the company posted $0.71 EPS.

Ares Management Trading Down 2.0 %

Shares of ARES stock traded down $2.70 on Friday, hitting $131.94. 1,085,269 shares of the company’s stock traded hands, compared to its average volume of 1,031,124. The stock has a market capitalization of $40.85 billion, a price-to-earnings ratio of 55.21, a P/E/G ratio of 0.99 and a beta of 1.17. Ares Management has a one year low of $77.97 and a one year high of $139.48. The company’s fifty day simple moving average is $133.10 and its 200 day simple moving average is $121.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02.

Ares Management Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.93 per share. The ex-dividend date is Friday, June 14th. This represents a $3.72 dividend on an annualized basis and a dividend yield of 2.82%. Ares Management’s dividend payout ratio (DPR) is presently 155.65%.

Insider Activity at Ares Management

In other Ares Management news, insider R. Kipp Deveer sold 80,637 shares of Ares Management stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $135.25, for a total transaction of $10,906,154.25. Following the sale, the insider now directly owns 1,116,676 shares of the company’s stock, valued at approximately $151,030,429. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Chairman Antony P. Ressler sold 174,258 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $134.89, for a total value of $23,505,661.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider R. Kipp Deveer sold 80,637 shares of the firm’s stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $135.25, for a total transaction of $10,906,154.25. Following the completion of the transaction, the insider now directly owns 1,116,676 shares in the company, valued at approximately $151,030,429. The disclosure for this sale can be found here. Insiders sold 1,494,440 shares of company stock worth $199,049,946 in the last three months. 1.20% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

ARES has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on shares of Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Jefferies Financial Group downgraded Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price target for the company. in a research note on Tuesday, January 9th. JMP Securities reissued a “market perform” rating on shares of Ares Management in a report on Tuesday, April 9th. UBS Group lifted their price objective on Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, Royal Bank of Canada increased their price target on shares of Ares Management from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $125.92.

About Ares Management

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.