$197.50 Million in Sales Expected for Ares Management LP (ARES) This Quarter

Analysts expect Ares Management LP (NYSE:ARES) to report $197.50 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Ares Management’s earnings, with estimates ranging from $193.00 million to $202.00 million. Ares Management posted sales of $161.51 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.3%. The business is scheduled to report its next quarterly earnings results before the market opens on Thursday, February 15th.

On average, analysts expect that Ares Management will report full year sales of $197.50 million for the current year, with estimates ranging from $744.00 million to $752.00 million. For the next year, analysts anticipate that the company will post sales of $831.00 million per share, with estimates ranging from $805.00 million to $857.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Ares Management.

A number of research firms recently weighed in on ARES. Royal Bank of Canada set a $21.00 price target on Ares Management and gave the stock a “buy” rating in a report on Wednesday, October 18th. Zacks Investment Research raised Ares Management from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a report on Thursday, January 25th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $24.00 price target on shares of Ares Management in a report on Thursday, January 11th. BidaskClub raised Ares Management from a “hold” rating to a “buy” rating in a report on Saturday, November 11th. Finally, TheStreet cut Ares Management from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Ares Management currently has a consensus rating of “Buy” and an average target price of $24.29.

Several institutional investors have recently made changes to their positions in ARES. PM CAPITAL Ltd acquired a new position in shares of Ares Management during the third quarter valued at approximately $7,785,000. Wells Fargo & Company MN raised its holdings in shares of Ares Management by 43.7% during the fourth quarter. Wells Fargo & Company MN now owns 900,886 shares of the asset manager’s stock valued at $18,018,000 after acquiring an additional 273,890 shares during the last quarter. EJF Capital LLC raised its holdings in shares of Ares Management by 17.2% during the third quarter. EJF Capital LLC now owns 1,086,804 shares of the asset manager’s stock valued at $20,269,000 after acquiring an additional 159,544 shares during the last quarter. Gator Capital Management LLC acquired a new position in shares of Ares Management during the fourth quarter valued at approximately $2,085,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Ares Management by 185.9% during the fourth quarter. Bank of New York Mellon Corp now owns 53,827 shares of the asset manager’s stock valued at $1,076,000 after acquiring an additional 34,999 shares during the last quarter. 16.21% of the stock is owned by institutional investors and hedge funds.

Ares Management (ARES) opened at $21.60 on Monday. The firm has a market capitalization of $1,775.76, a PE ratio of 11.80, a P/E/G ratio of 0.86 and a beta of 1.36. Ares Management has a fifty-two week low of $17.25 and a fifty-two week high of $25.24. The company has a quick ratio of 0.37, a current ratio of 0.37 and a debt-to-equity ratio of 0.56.

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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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