Ares Management L.P. (ARES) Announces Quarterly Earnings Results
Ares Management L.P. (NYSE:ARES) posted its quarterly earnings data on Friday. The asset manager reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01, Bloomberg Earnings reports. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The business had revenue of $283.67 million for the quarter, compared to analysts’ expectations of $286.76 million. During the same quarter in the previous year, the firm earned $0.45 earnings per share. The business’s revenue was down 15.4% on a year-over-year basis.
Ares Management L.P. (NYSE:ARES) traded up $0.25 during trading hours on Friday, hitting $18.75. The company had a trading volume of 75,707 shares, compared to its average volume of 64,020. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.43 and a current ratio of 0.43. The company has a market capitalization of $1,540.24, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 0.77 and a beta of 1.23.
A number of brokerages have recently commented on ARES. BidaskClub cut Ares Management L.P. from a “hold” rating to a “sell” rating in a research report on Friday, October 13th. Zacks Investment Research cut Ares Management L.P. from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $22.00 price target on shares of Ares Management L.P. in a research report on Tuesday, September 5th. Oppenheimer Holdings, Inc. began coverage on Ares Management L.P. in a research report on Thursday, September 21st. They set an “outperform” rating and a $18.00 price target on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating on shares of Ares Management L.P. in a research report on Friday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Ares Management L.P. currently has an average rating of “Buy” and a consensus target price of $21.00.
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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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