Zacks: Analysts Anticipate Ares Management L.P. (ARES) Will Post Earnings of $0.41 Per Share

Equities analysts expect Ares Management L.P. (NYSE:ARES) to announce earnings per share (EPS) of $0.41 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ares Management L.P.’s earnings, with the lowest EPS estimate coming in at $0.38 and the highest estimate coming in at $0.46. Ares Management L.P. reported earnings of $0.44 per share in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.8%. The firm is scheduled to report its next earnings results on Friday, February 23rd.

On average, analysts expect that Ares Management L.P. will report full year earnings of $1.80 per share for the current year, with EPS estimates ranging from $1.77 to $1.83. For the next financial year, analysts anticipate that the firm will post earnings of $1.80 per share, with EPS estimates ranging from $1.65 to $1.90. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that that provide coverage for Ares Management L.P..

Ares Management L.P. (NYSE:ARES) last announced its earnings results on Friday, November 3rd. The asset manager reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates 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 company’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS.

Several brokerages have recently commented on ARES. BidaskClub upgraded Ares Management L.P. from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded Ares Management L.P. from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research report on Monday, October 9th. Royal Bank Of Canada set a $21.00 price objective on Ares Management L.P. and gave the company a “buy” rating in a research report on Saturday, August 5th. ValuEngine lowered Ares Management L.P. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, July 27th. Finally, TheStreet lowered Ares Management L.P. from a “b” rating to a “c+” rating in a research report on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $21.00.

Shares of Ares Management L.P. (ARES) traded up $0.05 during midday trading on Wednesday, reaching $18.55. The company’s stock had a trading volume of 49,760 shares, compared to its average volume of 125,437. The company has a market cap of $3,930.00, a price-to-earnings ratio of 10.35, a P/E/G ratio of 0.78 and a beta of 1.23. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.37 and a quick ratio of 0.37. Ares Management L.P. has a fifty-two week low of $15.75 and a fifty-two week high of $23.25.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Thursday, November 16th. This is a boost from Ares Management L.P.’s previous quarterly dividend of $0.31. This represents a $1.64 annualized dividend and a yield of 8.84%. Ares Management L.P.’s dividend payout ratio is currently 221.43%.

A number of hedge funds have recently modified their holdings of ARES. Capital World Investors purchased a new stake in Ares Management L.P. during the 2nd quarter valued at about $9,649,000. PM CAPITAL Ltd purchased a new stake in Ares Management L.P. during the 3rd quarter valued at about $7,785,000. Morgan Stanley boosted its holdings in Ares Management L.P. by 96.0% during the 1st quarter. Morgan Stanley now owns 481,359 shares of the asset manager’s stock valued at $9,122,000 after acquiring an additional 235,816 shares during the period. Intrinsic Edge Capital Management LLC purchased a new stake in Ares Management L.P. during the 2nd quarter valued at about $3,267,000. Finally, EJF Capital LLC lifted its holdings in 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 buying an additional 159,544 shares during the period. Institutional investors own 15.15% of the company’s stock.

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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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