Wall Street analysts expect Ares Management LP Unit (NYSE:ARES) to announce $208.37 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Ares Management LP Unit’s earnings. The lowest sales estimate is $207.00 million and the highest is $210.42 million. Ares Management LP Unit posted sales of $183.18 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.8%. The business is expected to report its next earnings report before the market opens on Thursday, November 1st.
According to Zacks, analysts expect that Ares Management LP Unit will report full year sales of $823.42 million for the current financial year, with estimates ranging from $819.00 million to $830.57 million. For the next financial year, analysts forecast that the firm will report sales of $944.20 million, with estimates ranging from $913.00 million to $966.40 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Ares Management LP Unit.
Ares Management LP Unit (NYSE:ARES) last announced its quarterly earnings data on Thursday, August 2nd. The asset manager reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.06). The firm had revenue of $204.20 million during the quarter, compared to the consensus estimate of $320.11 million. Ares Management LP Unit had a net margin of 8.70% and a return on equity of 30.98%. The business’s revenue was down 63.1% compared to the same quarter last year. During the same period last year, the business earned $0.69 earnings per share.
ARES has been the topic of a number of research analyst reports. ValuEngine lowered shares of Ares Management LP Unit from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. Bank of America raised their target price on shares of Ares Management LP Unit from $26.00 to $27.00 and gave the company a “buy” rating in a research report on Monday, September 17th. JPMorgan Chase & Co. reiterated a “$21.50” rating and set a $23.00 price target on shares of Ares Management LP Unit in a report on Monday, July 23rd. Zacks Investment Research lowered shares of Ares Management LP Unit from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Finally, Wells Fargo & Co upgraded shares of Ares Management LP Unit from a “market perform” rating to an “outperform” rating in a report on Tuesday, August 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $27.00.
In other news, CFO Michael R. Mcferran bought 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 13th. The shares were acquired at an average price of $21.21 per share, for a total transaction of $159,075.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
A number of hedge funds have recently added to or reduced their stakes in ARES. Algebris UK Ltd bought a new stake in Ares Management LP Unit in the second quarter valued at $3,990,000. Point72 Europe London LLP bought a new stake in Ares Management LP Unit in the first quarter valued at $2,461,000. UBS Group AG increased its stake in Ares Management LP Unit by 16.2% in the first quarter. UBS Group AG now owns 205,410 shares of the asset manager’s stock valued at $4,396,000 after purchasing an additional 28,676 shares in the last quarter. Royce & Associates LP increased its stake in Ares Management LP Unit by 19.4% in the second quarter. Royce & Associates LP now owns 4,297,602 shares of the asset manager’s stock valued at $88,960,000 after purchasing an additional 697,436 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in Ares Management LP Unit by 14.5% in the second quarter. American Century Companies Inc. now owns 1,671,518 shares of the asset manager’s stock valued at $34,600,000 after purchasing an additional 211,749 shares in the last quarter. Institutional investors and hedge funds own 39.55% of the company’s stock.
NYSE:ARES traded up $0.03 during mid-day trading on Wednesday, reaching $20.72. The stock had a trading volume of 535,619 shares, compared to its average volume of 455,354. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of 10.74, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.04 and a quick ratio of 1.04. Ares Management LP Unit has a 12 month low of $18.00 and a 12 month high of $25.95.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 28th. Stockholders of record on Friday, September 14th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 5.41%. 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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