Ares Management L.P. (ARES) Raised to Buy at BidaskClub
BidaskClub upgraded shares of Ares Management L.P. (NYSE:ARES) from a hold rating to a buy rating in a research report released on Saturday.
A number of other research analysts have also commented on ARES. TheStreet lowered Ares Management L.P. from a b rating to a c+ rating in a report on Wednesday, November 8th. Royal Bank Of Canada reissued a buy rating on shares of Ares Management L.P. in a report on Friday, November 3rd. ValuEngine lowered Ares Management L.P. from a strong-buy rating to a buy rating in a report on Thursday, July 27th. Oppenheimer Holdings, Inc. began coverage on Ares Management L.P. in a report on Thursday, September 21st. They set an outperform rating and a $18.00 price objective on the stock. Finally, Zacks Investment Research raised Ares Management L.P. from a hold rating to a buy rating and set a $21.00 price objective on the stock in a report on Monday, October 9th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Ares Management L.P. currently has a consensus rating of Buy and a consensus price target of $21.00.
Ares Management L.P. (ARES) opened at $18.95 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.37 and a current ratio of 0.37. The company has a market capitalization of $1,545.57, a PE ratio of 10.27, a PEG ratio of 0.78 and a beta of 1.23. Ares Management L.P. has a fifty-two week low of $15.75 and a fifty-two week high of $23.25.
Ares Management L.P. (NYSE:ARES) last issued its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.40 EPS for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.01. The business had revenue of $283.67 million for the quarter, compared to analyst estimates of $286.76 million. Ares Management L.P. had a return on equity of 39.54% and a net margin of 4.98%. The firm’s revenue for the quarter was down 15.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.45 EPS. analysts expect that Ares Management L.P. will post 1.8 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a dividend of $0.41 per share. This is an increase from Ares Management L.P.’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.64 annualized dividend and a yield of 8.65%. Ares Management L.P.’s dividend payout ratio is presently 221.43%.
A number of large investors have recently made changes to their positions in the stock. Royce & Associates LP boosted its stake in Ares Management L.P. by 0.4% during the 3rd quarter. Royce & Associates LP now owns 3,778,587 shares of the asset manager’s stock valued at $70,471,000 after purchasing an additional 16,811 shares during the period. American Century Companies Inc. lifted its position in shares of Ares Management L.P. by 2.1% in the 3rd quarter. American Century Companies Inc. now owns 1,208,538 shares of the asset manager’s stock worth $22,539,000 after acquiring an additional 24,976 shares during the period. EJF Capital LLC lifted its position in shares of Ares Management L.P. by 17.2% in the 3rd quarter. EJF Capital LLC now owns 1,086,804 shares of the asset manager’s stock worth $20,269,000 after acquiring an additional 159,544 shares during the period. Wells Fargo & Company MN lifted its position in shares of Ares Management L.P. by 10.2% in the 3rd quarter. Wells Fargo & Company MN now owns 626,996 shares of the asset manager’s stock worth $11,693,000 after acquiring an additional 58,216 shares during the period. Finally, Capital World Investors bought a new stake in shares of Ares Management L.P. in the 2nd quarter worth approximately $9,649,000. Hedge funds and other institutional investors own 15.15% of the company’s stock.
About Ares Management L.P.
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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