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

Ares Management (NYSE:ARES) posted its quarterly earnings data on Thursday. The asset manager reported $0.80 EPS for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13), Briefing.com reports. The company had revenue of $707.36 million for the quarter, compared to analysts’ expectations of $814.88 million. Ares Management had a return on equity of 21.63% and a net margin of 12.86%. During the same quarter in the prior year, the business posted $0.71 EPS.

Ares Management Stock Performance

Shares of ARES stock opened at $131.91 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. The business has a 50 day moving average of $133.10 and a two-hundred day moving average of $121.64. The company has a market cap of $40.84 billion, a P/E ratio of 59.15, a PEG ratio of 1.00 and a beta of 1.17. Ares Management has a 52 week low of $77.97 and a 52 week high of $139.48.

Ares Management Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.93 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.72 annualized dividend and a yield of 2.82%. Ares Management’s dividend payout ratio (DPR) is 166.82%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley raised their price target on Ares Management from $109.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. raised their price target on Ares Management from $119.00 to $141.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Wells Fargo & Company lifted their price objective on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a research note on Friday, February 9th. Barclays reduced their price objective on Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $125.92.

Insider Buying and Selling

In other news, Chairman Antony P. Ressler sold 38,915 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $132.46, for a total transaction of $5,154,680.90. Following the completion of the transaction, the chairman now owns 96,085 shares of the company’s stock, valued at $12,727,419.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Antony P. Ressler sold 22,103 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $130.86, for a total value of $2,892,398.58. Following the sale, the chairman now directly owns 73,982 shares in the company, valued at approximately $9,681,284.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Antony P. Ressler sold 38,915 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $132.46, for a total transaction of $5,154,680.90. Following the completion of the sale, the chairman now owns 96,085 shares in the company, valued at $12,727,419.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,494,440 shares of company stock valued at $199,049,946. Insiders own 1.20% of the company’s stock.

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.