Ares Management Corporation (ARES) to Issue Quarterly Dividend of $1.35 on December 31st

Ares Management Corporation (NYSE:ARES) declared a quarterly dividend on Wednesday, October 28th. Shareholders of record on Thursday, December 17th will be paid a dividend of $1.35 per share by the asset manager on Thursday, December 31st. This represents a $5.40 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend is Thursday, December 17th.

Ares Management has raised its dividend payment by an average of 0.2% annually over the last three years and has raised its dividend every year for the last 7 years. Ares Management has a dividend payout ratio of 83.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Analysts expect Ares Management to earn $7.17 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 75.3%.

Ares Management Trading Up 3.0%

Shares of Ares Management stock opened at $127.57 on Friday. Ares Management has a 1 year low of $95.80 and a 1 year high of $181.19. The company has a market capitalization of $42.13 billion, a P/E ratio of 58.52, a P/E/G ratio of 1.12 and a beta of 1.53. The business has a 50 day moving average price of $126.24 and a 200 day moving average price of $125.49. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26.

Ares Management (NYSE:ARES) last issued its quarterly earnings results on Thursday, October 29th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The business had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the firm earned $1.15 earnings per share. The business’s revenue was down 13.5% compared to the same quarter last year. Sell-side analysts anticipate that Ares Management will post 5.80 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently weighed in on ARES. Piper Sandler reduced their price objective on Ares Management from $150.00 to $143.00 and set an “overweight” rating for the company in a research report on Monday, October 19th. Weiss Ratings reissued a “hold (c)” rating on shares of Ares Management in a report on Friday, August 21st. Citizens Jmp reduced their price target on shares of Ares Management from $190.00 to $160.00 and set a “market outperform” rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada increased their price target on Ares Management from $162.00 to $168.00 and gave the stock an “outperform” rating in a research report on Monday, August 3rd. Finally, Jefferies Financial Group reduced their price target on shares of Ares Management from $144.00 to $132.00 and set a “hold” rating on the stock in a research report on Tuesday, October 6th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, Ares Management presently has an average rating of “Moderate Buy” and a consensus price target of $148.26.

Ares Management Company Profile

Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital on behalf of institutional investors, pension funds, insurance companies, sovereign wealth funds, family offices and individual investors.

Its investment activities include direct lending and other credit strategies, control and minority investments in private companies, real estate and infrastructure investments, and secondary-market transactions involving private assets and fund interests.