Ares Management LP (ARES) Receives Consensus Rating of “Hold” from Brokerages
Shares of Ares Management LP (NYSE:ARES) have been assigned an average recommendation of “Hold” from the six research firms that are covering the stock. Five research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $17.33.
A number of research analysts have recently issued reports on ARES shares. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Ares Management in a report on Tuesday, September 20th. Zacks Investment Research upgraded shares of Ares Management from a “hold” rating to a “buy” rating and set a $21.00 price objective for the company in a report on Tuesday, October 11th. Bank of America Corp. cut shares of 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 upgraded shares of 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 shares of Ares Management and gave the stock a “hold” rating in a report on Thursday, August 11th.
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A number of hedge funds have recently made changes to their positions in ARES. Wells Fargo & Company MN raised its stake in shares of Ares Management by 2,147.5% in the third quarter. Wells Fargo & Company MN now owns 42,972 shares of the company’s stock valued at $748,000 after buying an additional 41,060 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Ares Management by 4.2% in the second quarter. American Century Companies Inc. now owns 1,001,565 shares of the company’s stock valued at $14,112,000 after buying an additional 40,361 shares in the last quarter. Royce & Associates LP raised its stake in shares of Ares Management by 1.0% in the second quarter. Royce & Associates LP now owns 3,774,217 shares of the company’s stock valued at $53,179,000 after buying an additional 36,061 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Ares Management by 34.2% in the first quarter. Goldman Sachs Group Inc. now owns 81,011 shares of the company’s stock valued at $1,248,000 after buying an additional 20,651 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in shares of Ares Management by 16.9% in the second quarter. PNC Financial Services Group Inc. now owns 103,673 shares of the company’s stock valued at $1,460,000 after buying an additional 14,999 shares in the last quarter. 10.06% of the stock is currently owned by institutional investors and hedge funds.
Shares of Ares Management (NYSE:ARES) traded down 0.29% during midday trading on Tuesday, hitting $16.95. 14,043 shares of the stock were exchanged. The firm’s 50 day moving average is $17.06 and its 200-day moving average is $16.35. Ares Management has a 1-year low of $10.72 and a 1-year high of $19.54. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 19.62 and a beta of 1.14.
Ares Management (NYSE:ARES) last issued its quarterly earnings data on Monday, November 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.08. The firm earned $335.46 million during the quarter, compared to analysts’ expectations of $166 million. Ares Management had a net margin of 7.79% and a return on equity of 25.44%. On average, analysts predict that Ares Management will post $1.32 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 5th. Shareholders of record on Monday, November 21st will be given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 4.58%. The ex-dividend date is Thursday, November 17th. Ares Management’s dividend payout ratio is 94.12%.
About Ares Management
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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