Analysts Anticipate Ares Management LP (ARES) Will Post Quarterly Sales of $197.50 Million
Equities research analysts predict that Ares Management LP (NYSE:ARES) will report sales of $197.50 million for the current quarter, Zacks reports. Two analysts have provided estimates for Ares Management’s earnings, with the highest sales estimate coming in at $202.00 million and the lowest estimate coming in at $193.00 million. Ares Management reported sales of $161.51 million during the same quarter last year, which indicates a positive year-over-year growth rate of 22.3%. The firm is expected to announce its next quarterly earnings report on Friday, February 23rd.
On average, analysts expect that Ares Management will report full year sales of $197.50 million for the current fiscal year, with estimates ranging from $744.00 million to $752.00 million. For the next year, analysts expect that the company will report sales of $831.00 million per share, with estimates ranging from $805.00 million to $857.00 million. Zacks’ sales calculations are an average based on a survey of research firms that follow Ares Management.
Ares Management (NYSE:ARES) last released its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Ares Management had a return on equity of 39.54% and a net margin of 4.98%. The company had revenue of $283.67 million during the quarter, compared to the consensus estimate of $286.76 million. During the same quarter in the prior year, the firm posted $0.45 earnings per share. The firm’s revenue was down 15.4% compared to the same quarter last year.
Ares Management (ARES) traded down $0.10 during trading on Wednesday, hitting $18.35. The stock had a trading volume of 61,800 shares, compared to its average volume of 123,859. Ares Management has a one year low of $15.75 and a one year high of $23.25. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.37 and a quick ratio of 0.37. The firm has a market capitalization of $1,516.80, a P/E ratio of 10.08, a P/E/G ratio of 0.74 and a beta of 1.23.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors 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 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date of this dividend was Thursday, November 16th. Ares Management’s dividend payout ratio (DPR) is currently 292.86%.
Institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors bought a new position in shares of Ares Management in the 2nd quarter worth $9,649,000. American Century Companies Inc. raised its position in Ares Management by 2.1% in the 3rd quarter. American Century Companies Inc. now owns 1,208,538 shares of the asset manager’s stock valued at $22,539,000 after buying an additional 24,976 shares during the last quarter. PM CAPITAL Ltd purchased a new stake in Ares Management in the 3rd quarter valued at $7,785,000. GSA Capital Partners LLP purchased a new stake in Ares Management in the 2nd quarter valued at $932,000. Finally, Intrinsic Edge Capital Management LLC purchased a new stake in Ares Management in the 2nd quarter valued at $3,267,000. Institutional investors own 15.62% of the company’s stock.
Ares Management 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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