Ares Management (NYSE:ARES) is scheduled to post its quarterly earnings results before the market opens on Thursday, July 29th. Analysts expect Ares Management to post earnings of $0.51 per share for the quarter. Individual that are interested in registering for the company's earnings conference call can do so using this link.
Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, April 29th. The asset manager reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.51 by ($0.05). The business had revenue of $411.25 million during the quarter, compared to analyst estimates of $436.80 million. Ares Management had a return on equity of 15.46% and a net margin of 10.03%. On average, analysts expect Ares Management to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Ares Management stock opened at $64.14 on Thursday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.14 and a current ratio of 0.14. The firm has a market capitalization of $16.81 billion, a price-to-earnings ratio of 45.81 and a beta of 1.03. Ares Management has a 1 year low of $38.13 and a 1 year high of $65.65. The business has a 50 day simple moving average of $58.99.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 30th. Shareholders of record on Wednesday, June 16th were given a $0.47 dividend. The ex-dividend date of this dividend was Tuesday, June 15th. This represents a $1.88 annualized dividend and a yield of 2.93%. Ares Management's dividend payout ratio (DPR) is 101.08%.
In other news, insider R. Kipp Deveer sold 126,787 shares of the business's stock in a transaction on Wednesday, May 26th. The shares were sold at an average price of $54.62, for a total transaction of $6,925,105.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Michael R. Mcferran sold 100,000 shares of the business's stock in a transaction on Tuesday, June 1st. The shares were sold at an average price of $55.23, for a total transaction of $5,523,000.00. The disclosure for this sale can be found here. Insiders own 49.34% of the company's stock.
Several research firms have issued reports on ARES. Barclays lifted their price target on shares of Ares Management from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Monday, April 12th. Wells Fargo & Company lifted their price target on shares of Ares Management from $68.00 to $71.00 and gave the stock an "overweight" rating in a research report on Monday, April 12th. Zacks Investment Research lowered shares of Ares Management from a "buy" rating to a "hold" rating in a research report on Tuesday, April 20th. Finally, BMO Capital Markets upgraded shares of Ares Management from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $63.00 to $68.00 in a research report on Monday, June 7th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. The stock presently has a consensus rating of "Buy" and a consensus price target of $60.00.
About Ares Management
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.
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