Ares Management’s (ARES) Outperform Rating Reiterated at Keefe, Bruyette & Woods
Ares Management LP (NYSE:ARES)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Keefe, Bruyette & Woods in a research note issued on Tuesday.
A number of other equities analysts also recently weighed in on the stock. TheStreet raised shares of Ares Management from a “sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Morgan Stanley set a $15.00 price target on shares of Ares Management and gave the stock a “hold” rating in a research note on Thursday, August 11th. Zacks Investment Research raised shares of Ares Management from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 10th. Finally, Bank of America Corp. downgraded 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. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $17.30.
Shares of Ares Management (NYSE:ARES) traded up 0.37% during mid-day trading on Tuesday, reaching $19.07. The company had a trading volume of 10,841 shares. The company’s 50-day moving average price is $17.83 and its 200-day moving average price is $15.27. The company has a market capitalization of $4.08 billion, a PE ratio of 67.86 and a beta of 1.12. Ares Management has a 52-week low of $10.72 and a 52-week high of $19.46.
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Ares Management (NYSE:ARES) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.31 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $369 million for the quarter, compared to the consensus estimate of $164.13 million. During the same period in the prior year, the business posted $0.32 earnings per share. Ares Management’s revenue for the quarter was up 53.0% compared to the same quarter last year. On average, analysts forecast that Ares Management will post $1.20 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 6th. Investors of record on Tuesday, August 23rd were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, August 19th. This is a boost from Ares Management’s previous quarterly dividend of $0.15. This represents a $1.12 dividend on an annualized basis and a yield of 5.89%. Ares Management’s dividend payout ratio is currently 400.00%.
A number of large investors have recently modified their holdings of the company. Raymond James & Associates purchased a new stake in Ares Management during the second quarter worth about $184,000. Royal Bank of Canada boosted its stake in 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 period. Goldman Sachs Group Inc. boosted its stake in 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 period. PNC Financial Services Group Inc. boosted its stake in 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 period. Finally, American Century Companies Inc. boosted its stake in Ares Management by 4.2% in the second quarter. American Century Companies Inc. now owns 1,001,565 shares of the company’s stock worth $14,112,000 after buying an additional 40,361 shares during the period. Hedge funds and other institutional investors own 10.20% of the company’s stock.
About Ares Management
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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