Ares Management Corp (NYSE:ARES) – Equities researchers at Oppenheimer lowered their FY2019 EPS estimates for Ares Management in a report issued on Tuesday, October 8th. Oppenheimer analyst C. Kotowski now expects that the asset manager will post earnings of $1.40 per share for the year, down from their prior estimate of $1.41. Oppenheimer also issued estimates for Ares Management’s Q4 2019 earnings at $0.37 EPS, Q1 2020 earnings at $0.44 EPS, Q2 2020 earnings at $0.46 EPS, Q3 2020 earnings at $0.48 EPS, Q4 2020 earnings at $0.49 EPS and FY2020 earnings at $1.86 EPS.
Ares Management (NYSE:ARES) last released its quarterly earnings results on Wednesday, July 31st. The asset manager reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The firm had revenue of $384.80 million for the quarter, compared to analysts’ expectations of $300.41 million. Ares Management had a net margin of 7.77% and a return on equity of 22.54%. The firm’s revenue for the quarter was up 88.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 earnings per share.
A number of other analysts also recently issued reports on ARES. Barclays initiated coverage on shares of Ares Management in a report on Monday, August 5th. They set an “overweight” rating and a $33.00 price objective for the company. TheStreet raised shares of Ares Management from a “c+” rating to a “b” rating in a report on Friday, August 16th. Zacks Investment Research downgraded shares of Ares Management from a “hold” rating to a “sell” rating in a report on Wednesday. BMO Capital Markets initiated coverage on shares of Ares Management in a report on Monday, October 7th. They set a “market perform” rating for the company. Finally, Wells Fargo & Co lifted their price objective on shares of Ares Management from $33.00 to $37.00 and gave the stock an “outperform” rating in a report on Thursday, September 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. Ares Management has an average rating of “Buy” and an average target price of $30.50.
ARES opened at $26.65 on Thursday. The company has a fifty day moving average price of $28.50 and a 200-day moving average price of $26.81. The firm has a market capitalization of $2.97 billion, a P/E ratio of 18.77, a price-to-earnings-growth ratio of 1.43 and a beta of 1.43. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.04 and a quick ratio of 1.04. Ares Management has a one year low of $16.18 and a one year high of $31.02.
A number of institutional investors have recently bought and sold shares of the business. Oppenheimer & Co. Inc. lifted its stake in Ares Management by 4.9% in the second quarter. Oppenheimer & Co. Inc. now owns 18,696 shares of the asset manager’s stock worth $489,000 after purchasing an additional 865 shares during the last quarter. Advisor Group Inc. increased its position in shares of Ares Management by 27.0% in the second quarter. Advisor Group Inc. now owns 6,951 shares of the asset manager’s stock valued at $182,000 after acquiring an additional 1,477 shares during the period. Stephens Inc. AR increased its position in shares of Ares Management by 6.3% in the second quarter. Stephens Inc. AR now owns 25,125 shares of the asset manager’s stock valued at $658,000 after acquiring an additional 1,500 shares during the period. BNP Paribas Arbitrage SA purchased a new position in shares of Ares Management in the second quarter valued at about $51,000. Finally, AGF Investments LLC purchased a new position in shares of Ares Management in the second quarter valued at about $53,000. 60.13% of the stock is owned by institutional investors and hedge funds.
In other Ares Management news, CEO Michael J. Arougheti sold 127,400 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $28.30, for a total value of $3,605,420.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ares Management Llc sold 3,500,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $0.11, for a total transaction of $385,000.00. Following the completion of the sale, the director now directly owns 86,857 shares of the company’s stock, valued at $9,554.27. The disclosure for this sale can be found here. Insiders have sold a total of 5,058,262 shares of company stock valued at $4,133,506 over the last ninety days. 151.62% of the stock is currently owned by insiders.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 16th were issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date was Friday, September 13th. Ares Management’s dividend payout ratio is currently 90.14%.
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.
Further Reading: How to build a Fibonacci channel
Receive News & Ratings for Ares Management Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management and related companies with MarketBeat.com's FREE daily email newsletter.