Analysts Anticipate Ares Management Corp (NYSE:ARES) Will Post Quarterly Sales of $240.06 Million

Equities analysts expect Ares Management Corp (NYSE:ARES) to report sales of $240.06 million for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Ares Management’s earnings. The lowest sales estimate is $237.68 million and the highest is $243.00 million. Ares Management posted sales of $194.03 million during the same quarter last year, which suggests a positive year-over-year growth rate of 23.7%. The firm is expected to report its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Ares Management will report full year sales of $981.20 million for the current year, with estimates ranging from $968.80 million to $992.00 million. For the next financial year, analysts forecast that the company will post sales of $1.12 billion, with estimates ranging from $1.10 billion to $1.13 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ares Management.

Ares Management (NYSE:ARES) last issued its earnings results on Thursday, May 2nd. The asset manager reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.02). Ares Management had a return on equity of 25.86% and a net margin of 5.22%. The company had revenue of $224.66 million during the quarter, compared to the consensus estimate of $228.42 million. During the same quarter in the prior year, the business earned $0.39 EPS.

Several research analysts have commented on the company. Zacks Investment Research downgraded Ares Management from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. ValuEngine upgraded Ares Management from a “hold” rating to a “buy” rating in a research note on Saturday, March 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Ares Management currently has an average rating of “Buy” and an average target price of $25.00.

NYSE ARES traded up $0.09 during trading hours on Friday, hitting $26.17. The company had a trading volume of 8,051,368 shares, compared to its average volume of 843,046. Ares Management has a 52 week low of $16.18 and a 52 week high of $28.58. The company’s 50 day moving average is $26.32. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The company has a market capitalization of $2.68 billion, a price-to-earnings ratio of 18.43, a price-to-earnings-growth ratio of 1.39 and a beta of 1.44.

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, June 13th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.89%. Ares Management’s dividend payout ratio (DPR) is presently 90.14%.

In other news, insider R. Kipp Deveer sold 214,780 shares of Ares Management stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $27.71, for a total transaction of $5,951,553.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael D. Weiner sold 3,600 shares of Ares Management stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $26.01, for a total value of $93,636.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 555,919 shares of company stock valued at $14,978,331. Corporate insiders own 151.62% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC raised its holdings in shares of Ares Management by 16.5% during the 1st quarter. FMR LLC now owns 2,808,368 shares of the asset manager’s stock valued at $65,182,000 after buying an additional 396,792 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of Ares Management by 14.3% during the 4th quarter. American Century Companies Inc. now owns 2,224,981 shares of the asset manager’s stock valued at $39,560,000 after buying an additional 278,783 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Ares Management by 126.2% during the 4th quarter. Brown Advisory Inc. now owns 1,684,985 shares of the asset manager’s stock valued at $29,960,000 after buying an additional 940,186 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Ares Management during the 1st quarter valued at about $29,366,000. Finally, Hilton Capital Management LLC raised its holdings in shares of Ares Management by 38.2% during the 1st quarter. Hilton Capital Management LLC now owns 923,611 shares of the asset manager’s stock valued at $21,437,000 after buying an additional 255,096 shares in the last quarter. 60.00% of the stock is currently owned by institutional investors.

Ares Management Company Profile

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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