TheStreet Lowers Ares Management L.P. (ARES) to C+
Other 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 $20.00 price objective for the company in a report on Tuesday, July 11th. Keefe, Bruyette & Woods reiterated a buy rating and set a $22.00 price objective on shares of Ares Management L.P. in a report on Tuesday, September 5th. Royal Bank Of Canada set a $21.00 price objective 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, BidaskClub upgraded Ares Management L.P. from a sell rating to a hold rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Buy and an average target price of $21.00.
Shares of Ares Management L.P. (ARES) opened at $18.80 on Wednesday. The company has a current ratio of 0.37, a quick ratio of 0.43 and a debt-to-equity ratio of 0.56. Ares Management L.P. has a 1-year low of $15.75 and a 1-year high of $23.25. The stock has a market capitalization of $3,970.00, a price-to-earnings ratio of 10.30, a P/E/G ratio of 0.78 and a beta of 1.23.
Ares Management L.P. (NYSE:ARES) last announced its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Ares Management L.P. had a return on equity of 39.54% and a net margin of 4.98%. The business had revenue of $283.67 million during the quarter, compared to analyst estimates of $286.76 million. During the same period last year, the company earned $0.45 earnings per share. Ares Management L.P.’s quarterly revenue was down 15.4% compared to the same quarter last year. analysts predict that Ares Management L.P. will post 1.8 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 17th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 8.72%. This is an increase from Ares Management L.P.’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, November 16th. Ares Management L.P.’s dividend payout ratio is presently 221.43%.
A number of institutional investors have recently bought and sold shares of ARES. Royal Bank of Canada increased its position in Ares Management L.P. by 359.8% during the second quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after buying an additional 7,700 shares during the last quarter. Commerce Bank acquired a new position in Ares Management L.P. during the third quarter worth $205,000. Virtu KCG Holdings LLC acquired a new position in Ares Management L.P. during the second quarter worth $212,000. Goldman Sachs Group Inc. increased its position in Ares Management L.P. by 37.9% during the second quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock worth $261,000 after buying an additional 3,982 shares during the last quarter. Finally, Balter Liquid Alternatives LLC acquired a new position in Ares Management L.P. during the second quarter worth $264,000. 15.11% of the stock is currently 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.