Ares Management Corporation (NYSE:ARES) to Issue $0.84 Quarterly Dividend

Ares Management Corporation (NYSE:ARES) announced a quarterly dividend on Monday, November 3rd. Investors of record on Wednesday, December 17th will be given a dividend of 0.8438 per share by the asset manager on Wednesday, December 31st. This represents a c) dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date of this dividend is Wednesday, December 17th.

Ares Management has raised its dividend payment by an average of 0.2%per year over the last three years and has increased its dividend every year for the last 7 years. Ares Management has a payout ratio of 68.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Ares Management to earn $6.65 per share next year, which means the company should continue to be able to cover its $4.48 annual dividend with an expected future payout ratio of 67.4%.

Ares Management Stock Performance

NYSE:ARES opened at $155.48 on Tuesday. The company has a market cap of $50.80 billion, a price-to-earnings ratio of 89.87, a PEG ratio of 1.19 and a beta of 1.43. Ares Management has a 1 year low of $110.63 and a 1 year high of $200.49. The stock’s 50 day simple moving average is $163.24 and its two-hundred day simple moving average is $168.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.08 and a quick ratio of 1.08.

Ares Management (NYSE:ARES) last announced its quarterly earnings results on Monday, November 3rd. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.05. Ares Management had a net margin of 9.47% and a return on equity of 15.81%. The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the firm earned $0.55 EPS. As a group, equities analysts anticipate that Ares Management will post 5.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on ARES shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Ares Management in a research note on Tuesday. JMP Securities raised their target price on shares of Ares Management from $195.00 to $205.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 6th. Barclays cut their price target on shares of Ares Management from $200.00 to $187.00 and set an “overweight” rating on the stock in a report on Wednesday, October 8th. Raymond James Financial assumed coverage on shares of Ares Management in a research report on Monday, July 28th. They issued a “market perform” rating on the stock. Finally, BMO Capital Markets started coverage on Ares Management in a research report on Friday, October 3rd. They set a “market perform” rating and a $156.00 target price for the company. Thirteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $181.93.

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.