ValuEngine upgraded shares of Ares Management (NYSE:ARES) from a hold rating to a buy rating in a research report report published on Tuesday, February 5th.
A number of other analysts have also issued reports on the stock. TheStreet raised shares of Ares Management from a c+ rating to a b- rating in a research report on Monday, December 3rd. Oppenheimer set a $28.00 target price on Ares Management and gave the stock a buy rating in a report on Friday, November 2nd. Goldman Sachs Group raised Ares Management from a neutral rating to a buy rating and set a $23.00 target price on the stock in a report on Friday, January 4th. Morgan Stanley decreased their target price on Ares Management from $25.00 to $22.00 and set a hold rating on the stock in a report on Wednesday, November 14th. Finally, Zacks Investment Research raised Ares Management from a sell rating to a hold rating in a report on Monday, November 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $26.00.
Shares of ARES stock traded down $0.22 during trading hours on Tuesday, hitting $23.40. The company had a trading volume of 436,710 shares, compared to its average volume of 598,113. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.14 and a current ratio of 0.14. Ares Management has a fifty-two week low of $16.18 and a fifty-two week high of $25.80. The firm has a market cap of $2.41 billion, a P/E ratio of 16.48, a P/E/G ratio of 1.58 and a beta of 1.58.
Ares Management (NYSE:ARES) last issued its quarterly earnings data on Thursday, February 14th. The asset manager reported $0.41 EPS for the quarter, topping the consensus estimate of $0.31 by $0.10. The firm had revenue of $247.40 million for the quarter, compared to analyst estimates of $241.59 million. Ares Management had a net margin of 5.95% and a return on equity of 27.79%. The business’s revenue for the quarter was down 34.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. As a group, research analysts predict that Ares Management will post 1.54 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 5.47%. The ex-dividend date of this dividend is Thursday, March 14th. This is a positive change from Ares Management’s previous quarterly dividend of $0.28. Ares Management’s dividend payout ratio (DPR) is currently 78.87%.
Hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Ares Management by 8.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 152,123 shares of the asset manager’s stock valued at $2,705,000 after purchasing an additional 11,572 shares during the last quarter. Segall Bryant & Hamill LLC raised its position in Ares Management by 1.1% during the 4th quarter. Segall Bryant & Hamill LLC now owns 507,525 shares of the asset manager’s stock valued at $9,024,000 after purchasing an additional 5,375 shares during the last quarter. Highbridge Capital Management LLC raised its position in Ares Management by 4.0% during the 4th quarter. Highbridge Capital Management LLC now owns 129,990 shares of the asset manager’s stock valued at $2,307,000 after purchasing an additional 4,990 shares during the last quarter. Bank of America Corp DE raised its position in Ares Management by 25.8% during the 4th quarter. Bank of America Corp DE now owns 133,981 shares of the asset manager’s stock valued at $2,382,000 after purchasing an additional 27,507 shares during the last quarter. Finally, Two Sigma Advisers LP raised its position in Ares Management by 13.6% during the 4th quarter. Two Sigma Advisers LP now owns 11,700 shares of the asset manager’s stock valued at $208,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors own 55.40% of the company’s stock.
About Ares Management
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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