Brokerages Anticipate Ares Management LP (ARES) to Post $0.41 EPS
Brokerages predict that Ares Management LP (NYSE:ARES) will report earnings of $0.41 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Ares Management’s earnings, with estimates ranging from $0.38 to $0.46. Ares Management reported earnings per share of $0.44 during the same quarter last year, which indicates a negative year over year growth rate of 6.8%. The business is expected to report its next quarterly earnings results on Friday, February 23rd.
On average, analysts expect that Ares Management will report full year earnings of $1.80 per share for the current fiscal year, with EPS estimates ranging from $1.77 to $1.84. For the next fiscal year, analysts anticipate that the company will post earnings of $1.79 per share, with EPS estimates ranging from $1.65 to $1.90. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that follow Ares Management.
Ares Management (NYSE:ARES) last announced its earnings results on Friday, November 3rd. The asset manager reported $0.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.01. The business had revenue of $283.67 million during the quarter, compared to the consensus estimate of $286.76 million. Ares Management had a return on equity of 39.54% and a net margin of 4.98%. The business’s quarterly revenue was down 15.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 EPS.
A number of large investors have recently modified their holdings of ARES. Capital World Investors purchased a new stake in Ares Management in the 2nd quarter valued at $9,649,000. PM CAPITAL Ltd acquired a new position in shares of Ares Management in the 3rd quarter valued at $7,785,000. Intrinsic Edge Capital Management LLC acquired a new position in shares of Ares Management in the 2nd quarter valued at $3,267,000. EJF Capital LLC lifted its stake in shares of Ares Management by 17.2% in the 3rd quarter. EJF Capital LLC now owns 1,086,804 shares of the asset manager’s stock valued at $20,269,000 after purchasing an additional 159,544 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in shares of Ares Management by 3.2% in the 2nd quarter. Royce & Associates LP now owns 3,761,776 shares of the asset manager’s stock valued at $67,712,000 after purchasing an additional 115,000 shares during the last quarter. Institutional investors own 15.62% of the company’s stock.
Ares Management (NYSE ARES) opened at $18.25 on Monday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.37 and a current ratio of 0.37. The firm has a market capitalization of $1,500.35, a P/E ratio of 9.97, a PEG ratio of 0.73 and a beta of 1.23. Ares Management has a 52 week low of $15.75 and a 52 week high of $23.25.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a $0.41 dividend. This is a boost from Ares Management’s previous quarterly dividend of $0.31. This represents a $1.64 annualized dividend and a yield of 8.99%. The ex-dividend date was Thursday, November 16th. Ares Management’s dividend payout ratio is presently 292.86%.
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About Ares Management
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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