Zacks: Brokerages Anticipate Ares Management LP Unit (ARES) Will Post Earnings of $0.42 Per Share

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Wall Street brokerages predict that Ares Management LP Unit (NYSE:ARES) will report earnings of $0.42 per share for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Ares Management LP Unit’s earnings, with estimates ranging from $0.36 to $0.44. Ares Management LP Unit posted earnings per share of $0.40 in the same quarter last year, which would indicate a positive year-over-year growth rate of 5%. The company is expected to report its next quarterly earnings results on Friday, November 2nd.

According to Zacks, 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 $1.50 to $1.60. For the next financial year, analysts forecast that the firm will report earnings of $1.99 per share, with EPS estimates ranging from $1.83 to $2.12. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Ares Management LP Unit.

Ares Management LP Unit (NYSE:ARES) last posted its earnings results on Thursday, August 2nd. The asset manager reported $0.34 EPS for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $204.20 million for the quarter, compared to the consensus estimate of $320.11 million. During the same period in the prior year, the business earned $0.69 EPS. Ares Management LP Unit’s quarterly revenue was down 63.1% compared to the same quarter last year.

ARES has been the topic of several recent analyst reports. Jefferies Financial Group initiated coverage on shares of Ares Management LP Unit in a research report on Thursday, June 28th. They set a “buy” rating on the stock. Wells Fargo & Co raised shares of Ares Management LP Unit from a “market perform” rating to an “outperform” rating in a research report on Tuesday, August 21st. Zacks Investment Research cut shares of Ares Management LP Unit from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. JPMorgan Chase & Co. reissued a “$21.50” rating and set a $23.00 target price on shares of Ares Management LP Unit in a research report on Monday, July 23rd. Finally, ValuEngine cut shares of Ares Management LP Unit from a “buy” rating to a “hold” rating in a research report on Wednesday, June 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $26.86.

In related news, CFO Michael R. Mcferran purchased 7,500 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were bought at an average price of $21.21 per share, with a total value of $159,075.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Several large investors have recently bought and sold shares of the stock. Segall Bryant & Hamill LLC raised its holdings in shares of Ares Management LP Unit by 0.9% in the 2nd quarter. Segall Bryant & Hamill LLC now owns 504,125 shares of the asset manager’s stock worth $10,435,000 after purchasing an additional 4,575 shares during the period. Cubist Systematic Strategies LLC raised its holdings in shares of Ares Management LP Unit by 785.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,313 shares of the asset manager’s stock worth $110,000 after purchasing an additional 4,713 shares during the period. LLBH Private Wealth Management LLC raised its holdings in shares of Ares Management LP Unit by 6.2% in the 2nd quarter. LLBH Private Wealth Management LLC now owns 104,566 shares of the asset manager’s stock worth $2,165,000 after purchasing an additional 6,078 shares during the period. Lee Capital Management LP raised its holdings in shares of Ares Management LP Unit by 20.0% in the 1st quarter. Lee Capital Management LP now owns 60,000 shares of the asset manager’s stock worth $1,284,000 after purchasing an additional 10,000 shares during the period. Finally, Sei Investments Co. raised its holdings in Ares Management LP Unit by 14.9% during the 2nd quarter. Sei Investments Co. now owns 85,982 shares of the asset manager’s stock valued at $1,780,000 after acquiring an additional 11,131 shares during the period. 39.62% of the stock is currently owned by institutional investors.

Ares Management LP Unit stock opened at $21.00 on Tuesday. Ares Management LP Unit has a 52 week low of $17.70 and a 52 week high of $25.95. 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 company has a market cap of $2.08 billion, a price-to-earnings ratio of 10.88, a PEG ratio of 1.56 and a beta of 1.26.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Thursday, September 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.33%. Ares Management LP Unit’s dividend payout ratio (DPR) is presently 58.03%.

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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