Ares Management Corp (NYSE:ARES) has received an average recommendation of “Buy” from the twelve ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $24.83.
Several analysts recently commented on ARES shares. Goldman Sachs Group upgraded Ares Management from a “neutral” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Friday, January 4th. Zacks Investment Research cut Ares Management from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 4th. ValuEngine cut Ares Management from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Morgan Stanley dropped their price target on Ares Management from $25.00 to $22.00 and set a “hold” rating for the company in a research report on Wednesday, November 14th. Finally, TheStreet cut Ares Management from a “b-” rating to a “c” rating in a research report on Friday, December 21st.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ARES. Ffcm LLC boosted its stake in Ares Management by 50.0% during the fourth quarter. Ffcm LLC now owns 1,476 shares of the asset manager’s stock worth $26,000 after buying an additional 492 shares during the last quarter. Pearl River Capital LLC acquired a new position in Ares Management during the 4th quarter worth about $40,000. Kwmg LLC acquired a new position in Ares Management during the 4th quarter worth about $75,000. Stelac Advisory Services LLC lifted its stake in Ares Management by 9.5% during the 4th quarter. Stelac Advisory Services LLC now owns 5,952 shares of the asset manager’s stock worth $106,000 after acquiring an additional 515 shares in the last quarter. Finally, Russell Investments Group Ltd. acquired a new position in Ares Management during the 3rd quarter worth about $112,000. 60.52% of the stock is currently owned by institutional investors.
Shares of ARES traded down $0.31 during trading hours on Friday, hitting $23.86. 1,192,162 shares of the stock were exchanged, compared to its average volume of 665,527. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.10 and a current ratio of 0.10. Ares Management has a 12-month low of $16.18 and a 12-month high of $24.44. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.49 and a beta of 1.61.
Ares Management (NYSE:ARES) last issued its quarterly earnings results on Thursday, February 14th. The asset manager reported $0.41 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.31 by $0.10. Ares Management had a return on equity of 28.58% and a net margin of 5.95%. The firm had revenue of $247.40 million during the quarter, compared to analysts’ expectations of $241.59 million. During the same period in the previous year, the business earned $0.48 earnings per share. The firm’s revenue for the quarter was down 34.0% on a year-over-year basis. On average, analysts predict that Ares Management will post 1.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.32 per share. The ex-dividend date is Thursday, March 14th. This represents a $1.28 dividend on an annualized basis and a yield of 5.36%. This is a positive change from Ares Management’s previous quarterly dividend of $0.28. Ares Management’s payout ratio is 78.87%.
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.
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