Ares Management Corp (NYSE:ARES) announced a quarterly dividend on Friday, February 14th, Wall Street Journal reports. Shareholders of record on Tuesday, March 17th will be given a dividend of 0.40 per share by the asset manager on Tuesday, March 31st. This represents a $1.60 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend is Monday, March 16th. This is an increase from Ares Management’s previous quarterly dividend of $0.32.
Ares Management has increased its dividend by an average of 4.2% per year over the last three years and has raised its dividend every year for the last 2 years. Ares Management has a dividend payout ratio of 66.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Ares Management to earn $1.91 per share next year, which means the company should continue to be able to cover its $1.28 annual dividend with an expected future payout ratio of 67.0%.
ARES stock traded down $1.09 during mid-day trading on Friday, reaching $40.01. The company’s stock had a trading volume of 1,099,467 shares, compared to its average volume of 494,482. The stock has a market cap of $4.50 billion, a PE ratio of 45.99, a P/E/G ratio of 1.45 and a beta of 1.61. The company has a current ratio of 0.12, a quick ratio of 0.12 and a debt-to-equity ratio of 0.35. Ares Management has a fifty-two week low of $22.17 and a fifty-two week high of $41.88. The company’s 50 day moving average is $36.83 and its two-hundred day moving average is $31.69.
Ares Management (NYSE:ARES) last released its quarterly earnings data on Thursday, February 13th. The asset manager reported $0.67 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.17. The company had revenue of $484.45 million during the quarter, compared to the consensus estimate of $424.84 million. Ares Management had a net margin of 7.76% and a return on equity of 18.98%. On average, analysts forecast that Ares Management will post 1.51 earnings per share for the current fiscal year.
A number of research firms have commented on ARES. UBS Group increased their price objective on shares of Ares Management from $38.00 to $40.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Wells Fargo & Co increased their price objective on shares of Ares Management from $45.00 to $50.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Zacks Investment Research upgraded shares of Ares Management from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a report on Monday, January 13th. Barclays set a $33.00 price target on shares of Ares Management and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Royal Bank of Canada restated a “buy” rating and set a $38.00 price target on shares of Ares Management in a report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ares Management currently has a consensus rating of “Buy” and an average target price of $37.57.
About Ares Management
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.
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