Ares Management Corporation (ARES) to Distribute Quarterly Dividend of $1.35 on September 30th

Ares Management Corporation (NYSE:ARES) announced a quarterly dividend on Thursday, July 30th. Stockholders of record on Wednesday, September 16th will be given a dividend of 1.35 per share by the asset manager on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend is Wednesday, September 16th.

Ares Management has raised its dividend by an average of 0.2%annually over the last three years and has increased its dividend every year for the last 7 years. Ares Management has a dividend payout ratio of 83.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Ares Management to earn $7.33 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 73.7%.

Ares Management Trading Up 0.2%

Shares of ARES opened at $131.93 on Monday. Ares Management has a 1-year low of $95.80 and a 1-year high of $186.85. The firm has a market capitalization of $43.57 billion, a price-to-earnings ratio of 60.52, a PEG ratio of 1.14 and a beta of 1.49. The firm’s 50-day moving average price is $133.40 and its 200-day moving average price is $122.57. The company has a current ratio of 0.26, a quick ratio of 0.26 and a debt-to-equity ratio of 1.00.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.01. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.The business had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.27 billion. During the same period in the previous year, the firm posted $1.03 EPS. The business’s revenue was up 5.8% on a year-over-year basis. Sell-side analysts anticipate that Ares Management will post 5.93 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ARES. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $144.00 price objective on shares of Ares Management in a report on Monday, August 3rd. Wall Street Zen lowered shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. Citizens Jmp dropped their price objective on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a research note on Thursday, July 9th. JPMorgan Chase & Co. raised their target price on shares of Ares Management from $143.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, August 3rd. Finally, BMO Capital Markets boosted their price target on Ares Management from $128.00 to $134.00 and gave the stock a “market perform” rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.47.

Ares Management Company Profile

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital for institutional investors, financial intermediaries and individual investors through a range of private funds, public-market strategies and other investment vehicles.

Its investment activities include direct lending and other forms of private credit, corporate and growth-oriented private equity, real estate and infrastructure investments, and secondary-market transactions involving private investment interests.