Equities analysts forecast that Ares Management L.P. (NYSE:ARES) will report earnings of $0.41 per share for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Ares Management L.P.’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.37. Ares Management L.P. reported earnings per share of $0.46 during the same quarter last year, which indicates a negative year over year growth rate of 10.9%. The company is scheduled to announce its next quarterly earnings results on Monday, November 6th.
According to Zacks, analysts expect that Ares Management L.P. will report full year earnings of $1.83 per share for the current year, with EPS estimates ranging from $1.73 to $1.89. For the next fiscal year, analysts forecast that the company will post earnings of $1.83 per share, with EPS estimates ranging from $1.65 to $1.98. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that cover Ares Management L.P..
Ares Management L.P. (NYSE:ARES) last announced its quarterly earnings results on Friday, August 4th. The asset manager reported $0.69 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.69. The firm had revenue of $554.00 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%. Ares Management L.P.’s quarterly revenue was up 49.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share.
ARES has been the subject of several recent research reports. Royal Bank Of Canada initiated coverage on shares of Ares Management L.P. in a research report on Thursday, June 29th. They issued an “outperform” rating and a $21.00 price target for the company. ValuEngine cut shares of Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. BidaskClub raised shares of Ares Management L.P. from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. TheStreet raised shares of Ares Management L.P. from a “c” rating to a “b-” rating in a research report on Thursday, August 17th. Finally, Zacks Investment Research raised shares of Ares Management L.P. from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the stock. Ares Management L.P. has a consensus rating of “Buy” and an average target price of $21.00.
Shares of Ares Management L.P. (ARES) traded down 0.53% during mid-day trading on Friday, hitting $18.60. The company had a trading volume of 26,087 shares. Ares Management L.P. has a 52-week low of $14.75 and a 52-week high of $23.25. The firm has a 50-day moving average price of $18.29 and a 200 day moving average price of $18.41. The firm has a market capitalization of $3.98 billion, a price-to-earnings ratio of 24.90 and a beta of 1.25.
A number of institutional investors and hedge funds have recently made changes to their positions in ARES. Sei Investments Co. lifted its position in Ares Management L.P. by 9.7% in the first quarter. Sei Investments Co. now owns 60,906 shares of the asset manager’s stock valued at $1,154,000 after acquiring an additional 5,366 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Ares Management L.P. by 66,328.9% in the first quarter. JPMorgan Chase & Co. now owns 479,617 shares of the asset manager’s stock valued at $9,088,000 after acquiring an additional 478,895 shares during the last quarter. Neuberger Berman Group LLC purchased a new stake in Ares Management L.P. in the first quarter valued at $3,790,000. OppenheimerFunds Inc. lifted its position in Ares Management L.P. by 41.0% in the first quarter. OppenheimerFunds Inc. now owns 1,305,908 shares of the asset manager’s stock valued at $24,747,000 after acquiring an additional 379,418 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position in Ares Management L.P. by 11.6% in the first quarter. PNC Financial Services Group Inc. now owns 139,388 shares of the asset manager’s stock valued at $2,641,000 after acquiring an additional 14,453 shares during the last quarter. 14.68% of the stock is owned by hedge funds and other institutional investors.
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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