Ares Management LP (ARES) Given “Outperform” Rating at Keefe, Bruyette & Woods
Ares Management LP (NYSE:ARES)‘s stock had its “outperform” rating reiterated by investment analysts at Keefe, Bruyette & Woods in a note issued to investors on Tuesday.
ARES has been the subject of several other research reports. Bank of America Corp. lowered shares of Ares Management from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 10th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Ares Management from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 14th. Morgan Stanley set a $15.00 price target on shares of Ares Management and gave the company a “hold” rating in a research report on Thursday, August 11th. Finally, TheStreet upgraded shares of Ares Management from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $17.30.
Shares of Ares Management (NYSE:ARES) traded up 0.79% during trading on Tuesday, hitting $19.15. 10,729 shares of the stock traded hands. Ares Management has a 1-year low of $10.72 and a 1-year high of $19.46. The company has a market cap of $4.10 billion, a P/E ratio of 68.15 and a beta of 1.12. The stock has a 50-day moving average of $17.83 and a 200 day moving average of $15.27.
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Ares Management (NYSE:ARES) last posted its earnings results on Tuesday, August 9th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.02. Ares Management had a net margin of 2.88% and a return on equity of 15.65%. The firm earned $369 million during the quarter, compared to analyst estimates of $164.13 million. During the same quarter in the prior year, the business posted $0.32 EPS. The business’s revenue was up 53.0% compared to the same quarter last year. On average, equities research analysts predict that Ares Management will post $1.20 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Shareholders of record on Tuesday, August 23rd were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date was Friday, August 19th. This is a positive change from Ares Management’s previous quarterly dividend of $0.15. Ares Management’s dividend payout ratio (DPR) is currently 400.00%.
A number of institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. increased its stake in shares of Ares Management by 34.2% in the first quarter. Goldman Sachs Group Inc. now owns 81,011 shares of the company’s stock worth $1,248,000 after buying an additional 20,651 shares during the last quarter. Royal Bank of Canada increased its stake in shares of Ares Management by 4,694.0% in the first quarter. Royal Bank of Canada now owns 47,940 shares of the company’s stock worth $738,000 after buying an additional 46,940 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Ares Management by 16.9% in the second quarter. PNC Financial Services Group Inc. now owns 103,673 shares of the company’s stock worth $1,460,000 after buying an additional 14,999 shares during the last quarter. Raymond James & Associates purchased a new stake in shares of Ares Management during the second quarter worth about $184,000. Finally, Royce & Associates LP increased its stake in shares of Ares Management by 1.0% in the second quarter. Royce & Associates LP now owns 3,774,217 shares of the company’s stock worth $53,179,000 after buying an additional 36,061 shares during the last quarter. Hedge funds and other institutional investors own 10.20% of the company’s stock.
Ares Management Company Profile
Ares Management, L.P. is an alternative asset manager. The Company operates through four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group. Its Tradable Credit Group is a participant in the tradable, non-investment grade corporate credit markets and manages various types of investment funds, ranging from commingled and separately managed accounts for institutional investors to publicly traded vehicles and sub-advised funds for retail investors.
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