Ares Management L.P. (ARES) Given Average Recommendation of “Buy” by Analysts
Ares Management L.P. (NYSE:ARES) has been given an average rating of “Buy” by the twelve brokerages that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have covered the stock in the last year is $20.20.
ARES has been the subject of several analyst reports. TheStreet upgraded Ares Management L.P. from a “c” rating to a “b-” rating in a research note on Wednesday, April 26th. Credit Suisse Group upgraded Ares Management L.P. from a “neutral” rating to an “outperform” rating in a research note on Thursday, May 11th. BidaskClub downgraded Ares Management L.P. from a “sell” rating to a “strong sell” rating in a research note on Saturday, June 17th. Royal Bank Of Canada initiated coverage on Ares Management L.P. in a research note on Thursday, June 29th. They issued an “outperform” rating and a $21.00 target price for the company. Finally, Keefe, Bruyette & Woods restated an “outperform” rating on shares of Ares Management L.P. in a research note on Tuesday, July 4th.
Several institutional investors have recently made changes to their positions in ARES. Balter Liquid Alternatives LLC bought a new position in shares of Ares Management L.P. during the second quarter worth approximately $264,000. Navellier & Associates Inc bought a new position in shares of Ares Management L.P. during the first quarter worth approximately $299,000. Bank of New York Mellon Corp boosted its position in shares of Ares Management L.P. by 79.8% in the second quarter. Bank of New York Mellon Corp now owns 18,827 shares of the asset manager’s stock worth $338,000 after buying an additional 8,356 shares during the period. Marshall Wace North America L.P. bought a new position in shares of Ares Management L.P. during the second quarter worth approximately $479,000. Finally, Lee Capital Management LP bought a new position in shares of Ares Management L.P. during the first quarter worth approximately $948,000. 14.67% of the stock is currently owned by institutional investors.
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Ares Management L.P. (ARES) opened at 18.00 on Friday. The firm has a market capitalization of $3.85 billion, a P/E ratio of 24.10 and a beta of 1.25. Ares Management L.P. has a one year low of $14.75 and a one year high of $23.25. The company’s 50-day moving average is $18.24 and its 200-day moving average is $18.96.
Ares Management L.P. (NYSE:ARES) last announced its earnings results on Friday, August 4th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.69. The firm had revenue of $554 million during the quarter, compared to analyst estimates of $442.10 million. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The business’s revenue was up 49.9% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. Equities analysts forecast that Ares Management L.P. will post $1.84 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Friday, August 18th will be issued a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 6.89%. This is a boost from Ares Management L.P.’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend is Wednesday, August 16th. Ares Management L.P.’s dividend payout ratio (DPR) is currently 71.23%.
Ares Management L.P. Company Profile
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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