$0.38 EPS Expected for Ares Management Corp (NYSE:ARES) This Quarter

Analysts expect Ares Management Corp (NYSE:ARES) to post earnings of $0.38 per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Ares Management’s earnings. The lowest EPS estimate is $0.36 and the highest is $0.40. Ares Management reported earnings of $0.34 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 11.8%. The business is scheduled to announce its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Ares Management will report full-year earnings of $1.53 per share for the current financial year, with EPS estimates ranging from $1.49 to $1.60. For the next financial year, analysts expect that the firm will post earnings of $1.86 per share, with EPS estimates ranging from $1.80 to $1.94. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Ares Management.

Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.02). Ares Management had a net margin of 5.22% and a return on equity of 25.86%. The business had revenue of $224.66 million during the quarter, compared to the consensus estimate of $228.42 million. During the same period last year, the firm earned $0.39 EPS.

ARES has been the topic of a number of analyst reports. Zacks Investment Research raised shares of Ares Management from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Tuesday, April 16th. ValuEngine raised shares of Ares Management from a “hold” rating to a “buy” rating in a report on Saturday, March 9th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Ares Management presently has a consensus rating of “Buy” and an average target price of $25.00.

In other news, EVP Michael D. Weiner sold 3,600 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $26.01, for a total value of $93,636.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider R. Kipp Deveer sold 5,166 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $26.12, for a total transaction of $134,935.92. The disclosure for this sale can be found here. Corporate insiders own 151.62% of the company’s stock.

Several large investors have recently modified their holdings of ARES. Bank of New York Mellon Corp increased its position in Ares Management by 190.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 30,398 shares of the asset manager’s stock valued at $706,000 after acquiring an additional 19,927 shares during the period. Morgan Stanley increased its position in Ares Management by 128.5% in the 3rd quarter. Morgan Stanley now owns 234,539 shares of the asset manager’s stock valued at $5,441,000 after acquiring an additional 131,900 shares during the period. Janney Montgomery Scott LLC increased its position in Ares Management by 2.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 41,400 shares of the asset manager’s stock valued at $736,000 after acquiring an additional 1,000 shares during the period. Seacliff Capital LLC acquired a new stake in Ares Management in the 4th quarter valued at approximately $3,556,000. Finally, Pearl River Capital LLC acquired a new stake in Ares Management in the 4th quarter valued at approximately $40,000. 60.00% of the stock is currently owned by hedge funds and other institutional investors.

NYSE ARES opened at $27.33 on Wednesday. Ares Management has a 12-month low of $16.18 and a 12-month high of $28.58. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.12 and a current ratio of 0.12. The company has a market capitalization of $2.85 billion, a PE ratio of 19.70, a price-to-earnings-growth ratio of 1.47 and a beta of 1.44.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 4.68%. The ex-dividend date is Thursday, June 13th. Ares Management’s dividend payout ratio (DPR) is presently 90.14%.

Ares Management Company Profile

Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The company's Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts for institutional investors, and publicly traded vehicles and sub-advised funds for retail investors in the tradable and non-investment grade corporate credit markets.

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