Ares Management (NYSE:ARES) Releases Earnings Results, Misses Expectations By $0.02 EPS

Ares Management (NYSE:ARES) released its earnings results on Wednesday. The asset manager reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02), Briefing.com reports. Ares Management had a return on equity of 23.26% and a net margin of 7.77%. The business had revenue of $384.80 million for the quarter, compared to the consensus estimate of $300.41 million. During the same quarter last year, the business posted $0.34 earnings per share. The firm’s revenue for the quarter was up 88.4% compared to the same quarter last year.

Shares of Ares Management stock traded up $0.06 on Friday, hitting $28.72. 951,291 shares of the company traded hands, compared to its average volume of 517,387. The company has a 50 day moving average of $27.75. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. Ares Management has a 52 week low of $16.18 and a 52 week high of $29.53. The stock has a market cap of $3.02 billion, a P/E ratio of 20.23, a PEG ratio of 1.50 and a beta of 1.39.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.46%. The ex-dividend date of this dividend is Friday, September 13th. Ares Management’s dividend payout ratio is presently 90.14%.

Several analysts have recently weighed in on ARES shares. UBS Group lifted their target price on Ares Management from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday. Morgan Stanley lifted their price objective on shares of Ares Management from $26.00 to $28.00 and gave the company an “equal weight” rating in a report on Friday. Finally, Zacks Investment Research lowered shares of Ares Management from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ares Management currently has a consensus rating of “Buy” and a consensus target price of $27.50.

In related news, insider R. Kipp Deveer sold 5,166 shares of Ares Management stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $26.12, for a total value of $134,935.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Over the last ninety days, insiders have sold 1,370,709 shares of company stock valued at $37,208,269. 151.62% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA bought a new stake in shares of Ares Management in the 2nd quarter valued at about $51,000. AGF Investments LLC bought a new position in Ares Management in the second quarter worth approximately $53,000. Cordasco Financial Network bought a new position in Ares Management in the first quarter worth approximately $70,000. Marshall Wace LLP bought a new position in Ares Management in the first quarter worth approximately $145,000. Finally, Marshall Wace North America L.P. bought a new position in Ares Management in the first quarter worth approximately $175,000. Institutional investors and hedge funds own 59.69% of the company’s stock.

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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Earnings History for Ares Management (NYSE:ARES)

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