Wall Street brokerages expect Ares Management LP Unit (NYSE:ARES) to post $0.42 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Ares Management LP Unit’s earnings, with estimates ranging from $0.39 to $0.44. Ares Management LP Unit reported earnings per share of $0.40 in the same quarter last year, which suggests a positive year over year growth rate of 5%. The business is expected to report its next earnings report on Friday, November 2nd.
On average, analysts expect that Ares Management LP Unit will report full year earnings of $1.55 per share for the current fiscal year, with EPS estimates ranging from $1.49 to $1.60. For the next year, analysts expect that the firm will post earnings of $1.97 per share, with EPS estimates ranging from $1.75 to $2.12. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Ares Management LP Unit.
Ares Management LP Unit (NYSE:ARES) last announced its earnings results on Thursday, August 2nd. The asset manager reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.06). Ares Management LP Unit had a return on equity of 30.98% and a net margin of 8.70%. The company had revenue of $204.20 million during the quarter, compared to the consensus estimate of $320.11 million. During the same period in the prior year, the business posted $0.69 earnings per share. Ares Management LP Unit’s revenue for the quarter was down 63.1% compared to the same quarter last year.
A number of equities analysts recently commented on ARES shares. Oppenheimer set a $30.00 target price on Ares Management LP Unit and gave the stock a “buy” rating in a report on Monday, May 7th. Jefferies Financial Group started coverage on Ares Management LP Unit in a report on Thursday, June 28th. They issued a “buy” rating on the stock. Zacks Investment Research cut Ares Management LP Unit from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. JPMorgan Chase & Co. reiterated a “$21.50” rating and issued a $23.00 price target on shares of Ares Management LP Unit in a research note on Monday, July 23rd. Finally, CIBC started coverage on Ares Management LP Unit in a research note on Tuesday, May 1st. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $26.86.
Ares Management LP Unit stock remained flat at $$20.80 during trading on Friday. The company had a trading volume of 637,690 shares, compared to its average volume of 414,114. Ares Management LP Unit has a one year low of $17.40 and a one year high of $25.95. The company has a market cap of $2.08 billion, a PE ratio of 10.78, a P/E/G ratio of 1.54 and a beta of 1.29. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be paid a $0.28 dividend. The ex-dividend date is Thursday, September 13th. This represents a $1.12 dividend on an annualized basis and a yield of 5.38%. Ares Management LP Unit’s payout ratio is presently 58.03%.
In other Ares Management LP Unit news, CFO Michael R. Mcferran purchased 7,500 shares of the business’s stock in a transaction on Monday, August 13th. The stock was acquired at an average price of $21.21 per share, for a total transaction of $159,075.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
A number of hedge funds have recently modified their holdings of ARES. Alleghany Corp DE purchased a new stake in Ares Management LP Unit in the 1st quarter worth $208,650,000. Millennium Management LLC purchased a new position in shares of Ares Management LP Unit during the first quarter valued at about $25,267,000. Mendon Capital Advisors Corp purchased a new position in shares of Ares Management LP Unit during the first quarter valued at about $23,923,000. Federated Investors Inc. PA purchased a new position in shares of Ares Management LP Unit during the first quarter valued at about $21,950,000. Finally, FMR LLC grew its position in shares of Ares Management LP Unit by 54.4% during the second quarter. FMR LLC now owns 2,670,476 shares of the asset manager’s stock valued at $55,279,000 after purchasing an additional 941,386 shares in the last quarter. Institutional investors and hedge funds own 38.49% of the company’s stock.
About Ares Management LP Unit
Ares Management, L.P. 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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