Analysts forecast that Ares Management Corp (NYSE:ARES) will post sales of $218.47 million for the current quarter, Zacks reports. Three analysts have issued estimates for Ares Management’s earnings. The highest sales estimate is $222.00 million and the lowest is $213.42 million. Ares Management posted sales of $186.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.2%. The business is expected to report its next quarterly earnings report on Thursday, February 21st.
According to Zacks, analysts expect that Ares Management will report full-year sales of $831.28 million for the current financial year, with estimates ranging from $809.05 million to $852.00 million. For the next financial year, analysts anticipate that the business will post sales of $952.06 million, with estimates ranging from $915.59 million to $992.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Ares Management.
Ares Management (NYSE:ARES) last posted its earnings results on Thursday, November 1st. The asset manager reported $0.30 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.08). The company had revenue of $240.78 million for the quarter, compared to analysts’ expectations of $240.75 million. Ares Management had a net margin of 7.93% and a return on equity of 29.05%. The firm’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 EPS.
A number of research firms have weighed in on ARES. Goldman Sachs Group raised Ares Management from a “neutral” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, January 4th. TheStreet lowered Ares Management from a “b-” rating to a “c” rating in a report on Friday, December 21st. ValuEngine lowered Ares Management from a “buy” rating to a “hold” rating in a report on Friday, December 21st. Zacks Investment Research raised Ares Management from a “strong sell” rating to a “hold” rating in a report on Monday, December 10th. Finally, Morgan Stanley reduced their target price on Ares Management from $25.00 to $22.00 and set a “hold” rating for the company in a report on Wednesday, November 14th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $26.25.
Several hedge funds and other institutional investors have recently modified their holdings of ARES. Cubist Systematic Strategies LLC grew its holdings in shares of Ares Management by 785.5% during the second quarter. Cubist Systematic Strategies LLC now owns 5,313 shares of the asset manager’s stock worth $110,000 after purchasing an additional 4,713 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Ares Management during the third quarter worth about $112,000. Stelac Advisory Services LLC purchased a new position in shares of Ares Management during the third quarter worth about $126,000. Belpointe Asset Management LLC purchased a new position in shares of Ares Management during the third quarter worth about $162,000. Finally, Cowen Prime Services LLC purchased a new position in shares of Ares Management during the third quarter worth about $313,000. 55.06% of the stock is owned by institutional investors.
ARES stock opened at $19.30 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.14 and a debt-to-equity ratio of 0.41. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 1.06 and a beta of 1.52. Ares Management has a twelve month low of $16.18 and a twelve month high of $25.95.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 31st. Stockholders of record on Monday, December 17th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.80%. The ex-dividend date of this dividend was Friday, December 14th. Ares Management’s payout ratio is 58.03%.
Ares Management Company Profile
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.
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