Brokerages Set Ares Management LP (NYSE:ARES) Target Price at $17.00
Ares Management LP (NYSE:ARES) has been assigned a consensus recommendation of “Hold” from the seven research firms that are currently covering the company. Five research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $17.00.
ARES has been the subject of several analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Ares Management in a research note on Tuesday. Zacks Investment Research raised Ares Management from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 14th. Bank of America Corp. downgraded Ares Management from a “buy” rating to a “neutral” rating in a report on Wednesday, August 10th. They noted that the move was a valuation call. TheStreet raised Ares Management from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Finally, Morgan Stanley set a $15.00 price target on Ares Management and gave the company a “hold” rating in a report on Thursday, August 11th.
Large investors have recently bought and sold shares of the company. Raymond James & Associates purchased a new stake in Ares Management during the second quarter worth $184,000. PNC Financial Services Group Inc. increased its stake in Ares Management by 16.9% in the second quarter. PNC Financial Services Group Inc. now owns 103,673 shares of the company’s stock worth $1,460,000 after buying an additional 14,999 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Ares Management by 34.2% in the first quarter. Goldman Sachs Group Inc. now owns 81,011 shares of the company’s stock worth $1,248,000 after buying an additional 20,651 shares in the last quarter. Royce & Associates LP increased its stake in Ares Management by 1.0% in the second quarter. Royce & Associates LP now owns 3,774,217 shares of the company’s stock worth $53,179,000 after buying an additional 36,061 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Ares Management by 4.2% in the second quarter. American Century Companies Inc. now owns 1,001,565 shares of the company’s stock worth $14,112,000 after buying an additional 40,361 shares in the last quarter. 10.20% of the stock is owned by institutional investors.
Shares of Ares Management (NYSE:ARES) opened at 18.60 on Tuesday. The firm has a 50-day moving average of $17.97 and a 200 day moving average of $15.36. Ares Management has a one year low of $10.72 and a one year high of $19.20. The company has a market cap of $3.98 billion, a price-to-earnings ratio of 66.19 and a beta of 1.12.
Ares Management (NYSE:ARES) last released its earnings results on Tuesday, August 9th. The company reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.29 by $0.02. Ares Management had a net margin of 2.88% and a return on equity of 15.65%. The business earned $369 million during the quarter, compared to analysts’ expectations of $164.13 million. During the same period last year, the business earned $0.32 earnings per share. The firm’s revenue was up 53.0% on a year-over-year basis. Equities research analysts anticipate that Ares Management will post $1.20 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Tuesday, August 23rd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, August 19th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 6.02%. This is an increase from Ares Management’s previous quarterly dividend of $0.15. Ares Management’s dividend payout ratio (DPR) is currently 400.00%.
Ares Management Company Profile
Ares Management, L.P. is an alternative asset manager. The Company operates through four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group. Its Tradable Credit Group is a participant in the tradable, non-investment grade corporate credit markets and manages various types of investment funds, ranging from commingled and separately managed accounts for institutional investors to publicly traded vehicles and sub-advised funds for retail investors.
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