Ares Management LP (ARES) Announces Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Ares Management LP (NYSE:ARES) announced its quarterly earnings data on Friday. The company reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.09. The firm earned $358.20 million during the quarter, compared to analyst estimates of $169.45 million. Ares Management had a return on equity of 25.44% and a net margin of 7.79%. Ares Management’s quarterly revenue was up 124.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.20 earnings per share.

Ares Management (NYSE:ARES) traded up 3.50% during trading on Friday, hitting $19.20. The stock had a trading volume of 217,304 shares. The stock has a 50-day moving average price of $20.01 and a 200-day moving average price of $18.38. Ares Management has a 52 week low of $12.08 and a 52 week high of $23.25. The company has a market cap of $4.11 billion, a PE ratio of 15.99 and a beta of 1.18.

Earnings History for Ares Management (NYSE:ARES)

The business also recently announced a quarterly dividend, which was paid on Friday, March 24th. Stockholders of record on Friday, March 10th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 8th. This is a positive change from Ares Management’s previous quarterly dividend of $0.20. This represents a $1.12 annualized dividend and a dividend yield of 5.83%. Ares Management’s dividend payout ratio is 94.12%.

A number of large investors have recently added to or reduced their stakes in the stock. Raiff Partners Inc. purchased a new stake in Ares Management during the fourth quarter worth about $384,000. Wells Fargo & Company MN boosted its stake in Ares Management by 2,147.5% in the third quarter. Wells Fargo & Company MN now owns 42,972 shares of the company’s stock worth $748,000 after buying an additional 41,060 shares during the period. PNC Financial Services Group Inc. boosted its stake in Ares Management by 10.7% in the third quarter. PNC Financial Services Group Inc. now owns 114,754 shares of the company’s stock worth $1,997,000 after buying an additional 11,081 shares during the period. BlackRock Advisors LLC boosted its stake in Ares Management by 1.9% in the third quarter. BlackRock Advisors LLC now owns 209,184 shares of the company’s stock worth $3,642,000 after buying an additional 4,000 shares during the period. Finally, Royce & Associates LP boosted its stake in Ares Management by 1.0% in the second quarter. Royce & Associates LP now owns 3,774,217 shares of the company’s stock worth $53,179,000 after buying an additional 36,061 shares during the period. Institutional investors own 10.38% of the company’s stock.

Several brokerages recently weighed in on ARES. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Ares Management in a report on Thursday. Goldman Sachs Group Inc began coverage on Ares Management in a report on Friday, March 10th. They issued a “neutral” rating and a $21.00 price objective for the company. Zacks Investment Research lowered Ares Management from a “strong-buy” rating to a “hold” rating in a report on Friday, March 3rd. SunTrust Banks, Inc. boosted their price objective on Ares Management from $20.00 to $25.00 and gave the company a “buy” rating in a report on Monday, February 27th. Finally, Credit Suisse Group AG began coverage on Ares Management in a report on Wednesday, January 25th. They issued a “neutral” rating and a $21.00 price objective for the company. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $20.86.

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About Ares Management

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.

5 Day Chart for NYSE:ARES

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