Ares Management LP Unit (NYSE:ARES) Expected to Earn Q1 2019 Earnings of $0.44 Per Share

Ares Management LP Unit (NYSE:ARES) – Equities researchers at Oppenheimer issued their Q1 2019 earnings per share (EPS) estimates for Ares Management LP Unit in a report issued on Tuesday, October 16th, according to Zacks Investment Research. Oppenheimer analyst L. Rudary forecasts that the asset manager will post earnings per share of $0.44 for the quarter. Oppenheimer currently has a “Buy” rating and a $28.00 price target on the stock. Oppenheimer also issued estimates for Ares Management LP Unit’s Q2 2019 earnings at $0.46 EPS, Q3 2019 earnings at $0.50 EPS, Q4 2019 earnings at $0.53 EPS and FY2020 earnings at $2.31 EPS.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. reaffirmed a “$21.50” rating and set a $23.00 price objective on shares of Ares Management LP Unit in a report on Monday, July 23rd. ValuEngine raised shares of Ares Management LP Unit from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Bank of America lifted their price objective on shares of Ares Management LP Unit from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Zacks Investment Research raised shares of Ares Management LP Unit from a “sell” rating to a “hold” rating in a report on Monday, November 5th. Finally, Morgan Stanley lifted their price objective on shares of Ares Management LP Unit from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday, October 9th. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $26.75.

NYSE ARES traded up $0.28 during mid-day trading on Thursday, hitting $22.13. The company’s stock had a trading volume of 439,181 shares, compared to its average volume of 531,114. The company has a current ratio of 0.14, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41. The company has a market cap of $2.21 billion, a P/E ratio of 11.47, a PEG ratio of 1.49 and a beta of 1.37. Ares Management LP Unit has a twelve month low of $18.00 and a twelve month high of $25.95.

Ares Management LP Unit (NYSE:ARES) last posted its quarterly earnings results on Thursday, November 1st. The asset manager reported $0.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.08). Ares Management LP Unit had a net margin of 7.93% and a return on equity of 29.05%. The business had revenue of $240.78 million during the quarter, compared to analyst estimates of $240.75 million. During the same period in the previous year, the business posted $0.40 EPS. The business’s revenue for the quarter was down 16.5% compared to the same quarter last year.

Institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. bought a new stake in Ares Management LP Unit in the 3rd quarter valued at about $112,000. Cubist Systematic Strategies LLC increased its position in shares of Ares Management LP Unit by 785.5% during the second quarter. Cubist Systematic Strategies LLC now owns 5,313 shares of the asset manager’s stock valued at $110,000 after buying an additional 4,713 shares during the period. Stelac Advisory Services LLC bought a new stake in shares of Ares Management LP Unit during the third quarter valued at about $126,000. Cowen Prime Services LLC bought a new stake in shares of Ares Management LP Unit during the third quarter valued at about $313,000. Finally, Dimensional Fund Advisors LP bought a new stake in shares of Ares Management LP Unit during the second quarter valued at about $328,000. Institutional investors and hedge funds own 40.23% of the company’s stock.

In other news, CFO Michael R. Mcferran acquired 7,500 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average cost of $21.21 per share, for a total transaction of $159,075.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Monday, December 17th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.06%. The ex-dividend date is Friday, December 14th. Ares Management LP Unit’s dividend payout ratio is currently 58.03%.

About Ares Management LP Unit

Ares Management, L.P. 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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