Zacks: Brokerages Anticipate Ares Management L.P. (ARES) Will Announce Quarterly Sales of $190.50 Million

Wall Street brokerages predict that Ares Management L.P. (NYSE:ARES) will announce sales of $190.50 million for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Ares Management L.P.’s earnings, with estimates ranging from $189.00 million to $192.00 million. Ares Management L.P. posted sales of $163.61 million in the same quarter last year, which indicates a positive year over year growth rate of 16.4%. The business is scheduled to report its next quarterly earnings results on Monday, November 6th.

On average, analysts expect that Ares Management L.P. will report full-year sales of $190.50 million for the current financial year, with estimates ranging from $744.00 million to $748.00 million. For the next fiscal year, analysts expect that the company will report sales of $809.50 million per share, with estimates ranging from $800.00 million to $819.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that follow Ares Management L.P..

Ares Management L.P. (NYSE:ARES) last posted its quarterly earnings results on Friday, August 4th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.69. The firm had revenue of $554.00 million for the quarter, compared to analysts’ expectations of $442.10 million. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The company’s revenue for the quarter was up 49.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.40 EPS.

Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Ares Management L.P. from a “buy” rating to a “hold” rating in a research note on Thursday, July 20th. BidaskClub raised Ares Management L.P. from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. TheStreet raised Ares Management L.P. from a “c” rating to a “b-” rating in a research note on Thursday, August 17th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Ares Management L.P. in a research note on Tuesday, July 4th. Finally, Royal Bank Of Canada assumed coverage on Ares Management L.P. in a research note on Thursday, June 29th. They set an “outperform” rating and a $21.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $20.88.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in shares of Ares Management L.P. by 359.8% during the second quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock valued at $177,000 after purchasing an additional 7,700 shares in the last quarter. Virtu KCG Holdings LLC bought a new stake in shares of Ares Management L.P. during the second quarter valued at approximately $212,000. Goldman Sachs Group Inc. boosted its position in shares of Ares Management L.P. by 37.9% during the second quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock valued at $261,000 after purchasing an additional 3,982 shares in the last quarter. Clinton Group Inc. bought a new stake in shares of Ares Management L.P. during the second quarter valued at approximately $264,000. Finally, Balter Liquid Alternatives LLC bought a new stake in shares of Ares Management L.P. during the second quarter valued at approximately $264,000. Institutional investors own 14.68% of the company’s stock.

Ares Management L.P. (NYSE:ARES) opened at 18.75 on Monday. Ares Management L.P. has a 12-month low of $14.75 and a 12-month high of $23.25. The company has a market capitalization of $4.01 billion, a PE ratio of 25.10 and a beta of 1.25. The firm’s 50 day moving average price is $18.26 and its 200-day moving average price is $18.41.

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Ares Management L.P. Company Profile

Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.

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