Ares Management Corporation (NYSE:ARES) Stock Has Consensus Target Price of $146.21 According to Brokerages

Ares Management Corporation (NYSE:ARES) has been assigned an average rating of “Moderate Buy” from the twenty-one ratings firms that are covering the stock, MarketBeat Ratings reports. Nine equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $146.21.

ARES has been the topic of a number of recent research reports. TD Cowen reduced their target price on shares of Ares Management from $159.00 to $158.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Oppenheimer raised their target price on Ares Management from $151.00 to $162.00 and gave the company an “outperform” rating in a research note on Thursday, August 27th. Bank of America dropped their target price on Ares Management from $160.00 to $156.00 in a research report on Monday, October 5th. Barclays lifted their target price on Ares Management from $139.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, October 30th. Finally, Morgan Stanley set a $149.00 price target on Ares Management in a research note on Friday, October 16th.

Ares Management Stock Performance

Ares Management stock opened at $138.08 on Friday. The firm has a market capitalization of $45.61 billion, a PE ratio of 111.36, a price-to-earnings-growth ratio of 1.24 and a beta of 1.49. Ares Management has a one year low of $95.80 and a one year high of $181.19. The stock’s 50 day moving average price is $125.00 and its 200 day moving average price is $124.07. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.26 and a current ratio of 0.27.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Thursday, October 29th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.24 billion. Ares Management had a net margin of 7.51% and a return on equity of 25.81%. Ares Management’s revenue for the quarter was down 13.5% on a year-over-year basis. During the same quarter last year, the company earned $1.15 earnings per share. As a group, sell-side analysts expect that Ares Management will post 5.70 EPS for the current fiscal year.

Ares Management Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Thursday, December 17th will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, December 17th. Ares Management’s dividend payout ratio (DPR) is 435.48%.

Hedge Funds Weigh In On Ares Management

A number of institutional investors have recently made changes to their positions in ARES. Alteri Wealth LLC raised its holdings in Ares Management by 11.4% in the third quarter. Alteri Wealth LLC now owns 4,821 shares of the asset manager’s stock valued at $560,000 after acquiring an additional 494 shares in the last quarter. Private Advisor Group LLC grew its holdings in Ares Management by 64.6% during the 3rd quarter. Private Advisor Group LLC now owns 3,237 shares of the asset manager’s stock worth $376,000 after acquiring an additional 1,270 shares in the last quarter. Ieq Capital LLC increased its position in shares of Ares Management by 28.6% in the 3rd quarter. Ieq Capital LLC now owns 3,876 shares of the asset manager’s stock worth $450,000 after purchasing an additional 863 shares during the last quarter. Focus Advisor Solutions LLC acquired a new stake in shares of Ares Management in the 3rd quarter valued at about $327,000. Finally, Colonial Trust Co SC lifted its position in shares of Ares Management by 52.5% during the third quarter. Colonial Trust Co SC now owns 578 shares of the asset manager’s stock worth $67,000 after purchasing an additional 199 shares during the last quarter. 50.03% of the stock is owned by institutional investors and hedge funds.

About Ares Management

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real estate and infrastructure. Its strategies include direct lending, liquid and opportunistic credit, asset-based finance, private equity investing, and real estate debt and equity. Founded in 1997, the firm serves institutional and individual investors through investment funds and other vehicles. Ares operates across North America, Europe and the Asia-Pacific region.