Ares Management (ARES) Scheduled to Post Quarterly Earnings on Friday

Ares Management (NYSE:ARES) will be releasing its earnings data before the market opens on Friday, November 1st. Analysts expect Ares Management to post earnings of $0.97 per share for the quarter. Investors that wish to register for the company’s conference call can do so using this link.

Ares Management (NYSE:ARES) last released its earnings results on Friday, August 2nd. The asset manager reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.01. The company had revenue of $788.68 million for the quarter, compared to analyst estimates of $860.09 million. Ares Management had a net margin of 12.53% and a return on equity of 20.46%. During the same period in the prior year, the business earned $0.90 EPS. On average, analysts expect Ares Management to post $4 EPS for the current fiscal year and $6 EPS for the next fiscal year.

Ares Management Stock Performance

NYSE:ARES opened at $170.37 on Wednesday. The company has a market cap of $52.78 billion, a price-to-earnings ratio of 76.40, a price-to-earnings-growth ratio of 1.48 and a beta of 1.22. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.52. Ares Management has a 52 week low of $96.00 and a 52 week high of $171.78. The company has a fifty day simple moving average of $154.59 and a two-hundred day simple moving average of $144.80.

Ares Management Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 16th were given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend was Monday, September 16th. Ares Management’s dividend payout ratio is currently 166.82%.

Insider Activity

In related news, insider Ryan Berry sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 17th. The stock was sold at an average price of $167.99, for a total transaction of $6,719,600.00. Following the transaction, the insider now owns 304,202 shares in the company, valued at $51,102,893.98. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Ryan Berry sold 40,000 shares of the company’s stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $167.99, for a total value of $6,719,600.00. Following the completion of the sale, the insider now owns 304,202 shares in the company, valued at $51,102,893.98. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Bennett Rosenthal sold 10,154 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $144.46, for a total transaction of $1,466,846.84. Following the transaction, the chairman now directly owns 191,508 shares in the company, valued at $27,665,245.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 622,640 shares of company stock valued at $91,378,848. Insiders own 1.20% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on ARES shares. Wells Fargo & Company boosted their price objective on Ares Management from $156.00 to $172.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. The Goldman Sachs Group raised their price objective on shares of Ares Management from $145.00 to $160.00 and gave the company a “buy” rating in a report on Monday, September 30th. TD Cowen boosted their target price on shares of Ares Management from $162.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft cut their price target on Ares Management from $134.00 to $133.00 and set a “hold” rating on the stock in a research note on Thursday, August 15th. Finally, Barclays upped their price objective on Ares Management from $155.00 to $174.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $159.18.

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.