Ares Management LP (ARES) Declares Special Dividend of $0.18
Ares Management (NASDAQ:ARES) declared a special dividend on Thursday, August 14th, Stock Ratings Network.com reports. Shareholders of record on Monday, August 25th will be given a dividend of 0.18 per share on Friday, August 29th. The ex-dividend date is Thursday, August 21st.
A number of analysts have recently weighed in on ARES shares. Analysts at RBC Capital cut their price target on shares of Ares Management from $22.00 to $21.00 in a research note on Thursday. On a related note, analysts at JPMorgan Chase & Co. cut their price target on shares of Ares Management from $23.00 to $21.00 in a research note on Tuesday, July 15th. They now have an “overweight” rating on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $21.00.
Ares Management (NASDAQ:ARES) traded down 1.32% on Thursday, hitting $17.95. 51,751 shares of the company’s stock traded hands. Ares Management has a 52 week low of $16.68 and a 52 week high of $20.48. The stock’s 50-day moving average is $18.96 and its 200-day moving average is $18.6. The company has a market cap of $3.843 billion and a P/E ratio of 9.09.
Ares Management (NASDAQ:ARES) last released its earnings data on Wednesday, August 13th. The company reported $0.33 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.37 by $0.04. On average, analysts predict that Ares Management will post $1.63 earnings per share for the current fiscal year.
Ares Management, L.P. is a global alternative asset manager. The company operates in four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group.
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