Ares Management Co. (NYSE:ARES) Expected to Post Earnings of $0.63 Per Share

Analysts expect that Ares Management Co. (NYSE:ARES) will post $0.63 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Ares Management’s earnings, with estimates ranging from $0.62 to $0.64. Ares Management reported earnings per share of $0.48 during the same quarter last year, which suggests a positive year over year growth rate of 31.3%. The company is scheduled to issue its next earnings results on Wednesday, October 27th.

On average, analysts expect that Ares Management will report full year earnings of $2.44 per share for the current financial year, with EPS estimates ranging from $2.42 to $2.46. For the next financial year, analysts expect that the business will report earnings of $3.04 per share, with EPS estimates ranging from $2.88 to $3.16. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that follow Ares Management.

Ares Management (NYSE:ARES) last announced its earnings results on Wednesday, July 28th. The asset manager reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.14. The business had revenue of $507.75 million during the quarter, compared to analyst estimates of $481.59 million. Ares Management had a net margin of 10.54% and a return on equity of 15.65%.

ARES has been the subject of several analyst reports. Morgan Stanley initiated coverage on Ares Management in a research note on Friday, September 10th. They issued an “equal weight” rating and a $90.00 price objective for the company. BMO Capital Markets upped their price objective on Ares Management from $77.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, August 13th. Zacks Investment Research upgraded Ares Management from a “hold” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Tuesday, August 3rd. Finally, Royal Bank of Canada upped their target price on shares of Ares Management from $71.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, August 3rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $74.43.

ARES traded up $1.38 during mid-day trading on Wednesday, reaching $79.60. 3,870 shares of the company traded hands, compared to its average volume of 832,873. The stock has a market capitalization of $22.91 billion, a P/E ratio of 45.70 and a beta of 1.01. The company has a quick ratio of 0.16, a current ratio of 0.16 and a debt-to-equity ratio of 0.35. The company’s fifty day moving average price is $71.50 and its 200-day moving average price is $61.30. Ares Management has a 52-week low of $38.38 and a 52-week high of $81.16.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Thursday, September 16th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend is Wednesday, September 15th. Ares Management’s dividend payout ratio (DPR) is presently 101.08%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ARES. Vanguard Group Inc. raised its position in shares of Ares Management by 11.5% during the 2nd quarter. Vanguard Group Inc. now owns 13,496,742 shares of the asset manager’s stock valued at $858,257,000 after buying an additional 1,391,706 shares in the last quarter. Sumitomo Mitsui Financial Group Inc. raised its position in shares of Ares Management by 10.2% during the 2nd quarter. Sumitomo Mitsui Financial Group Inc. now owns 13,364,740 shares of the asset manager’s stock valued at $849,864,000 after buying an additional 1,234,200 shares in the last quarter. BlackRock Inc. raised its position in shares of Ares Management by 3.7% during the 2nd quarter. BlackRock Inc. now owns 5,166,662 shares of the asset manager’s stock valued at $328,548,000 after buying an additional 182,135 shares in the last quarter. William Blair Investment Management LLC raised its position in shares of Ares Management by 0.6% during the 1st quarter. William Blair Investment Management LLC now owns 3,707,398 shares of the asset manager’s stock valued at $207,726,000 after buying an additional 22,020 shares in the last quarter. Finally, FMR LLC raised its position in shares of Ares Management by 6.4% during the 2nd quarter. FMR LLC now owns 3,679,973 shares of the asset manager’s stock valued at $234,009,000 after buying an additional 221,036 shares in the last quarter. 43.78% of the stock is owned by institutional investors and hedge funds.

About Ares Management

Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S.

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