Ares Management LP Unit (ARES) Expected to Post Quarterly Sales of $216.81 Million

Brokerages expect Ares Management LP Unit (NYSE:ARES) to post sales of $216.81 million for the current quarter, according to Zacks. Three analysts have issued estimates for Ares Management LP Unit’s earnings, with the highest sales estimate coming in at $220.00 million and the lowest estimate coming in at $213.42 million. Ares Management LP Unit reported sales of $186.43 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 16.3%. The firm is scheduled to announce its next quarterly earnings report on Thursday, February 21st.

On average, analysts expect that Ares Management LP Unit will report full-year sales of $823.95 million for the current year, with estimates ranging from $809.05 million to $832.80 million. For the next year, analysts expect that the firm will report sales of $944.06 million, with estimates ranging from $915.59 million to $992.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Ares Management LP Unit.

Ares Management LP Unit (NYSE:ARES) last posted its quarterly earnings data on Thursday, November 1st. The asset manager reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.38 by ($0.08). The company had revenue of $240.78 million during the quarter, compared to the consensus estimate of $240.75 million. Ares Management LP Unit had a return on equity of 29.05% and a net margin of 7.93%. The business’s revenue for the quarter was down 16.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 EPS.

Several analysts have commented on the stock. ValuEngine upgraded shares of Ares Management LP Unit from a “hold” rating to a “buy” rating in a research report on Wednesday, September 19th. Morgan Stanley upped their target price on shares of Ares Management LP Unit from $24.00 to $25.00 and gave the company a “hold” rating in a research report on Tuesday, October 9th. Bank of America upped 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 target price on shares of Ares Management LP Unit in a research report on Monday, July 23rd. Finally, Zacks Investment Research upgraded shares of Ares Management LP Unit from a “sell” rating to a “hold” rating in a research report on Monday, November 5th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $26.75.

In other news, CFO Michael R. Mcferran purchased 7,500 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was bought at an average price of $21.21 per share, with a total value of $159,075.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Several hedge funds have recently made changes to their positions in the company. Hilton Capital Management LLC acquired a new position in shares of Ares Management LP Unit in the 3rd quarter valued at $15,428,000. Bank of New York Mellon Corp grew its holdings in shares of Ares Management LP Unit by 190.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 30,398 shares of the asset manager’s stock valued at $706,000 after buying an additional 19,927 shares during the period. Alliancebernstein L.P. grew its holdings in shares of Ares Management LP Unit by 95.0% in the 3rd quarter. Alliancebernstein L.P. now owns 230,220 shares of the asset manager’s stock valued at $5,341,000 after buying an additional 112,160 shares during the period. Stelac Advisory Services LLC acquired a new position in shares of Ares Management LP Unit in the 3rd quarter valued at $126,000. Finally, Yorktown Management & Research Co Inc acquired a new position in shares of Ares Management LP Unit in the 3rd quarter valued at $2,552,000. 40.23% of the stock is owned by institutional investors.

Shares of Ares Management LP Unit stock traded up $0.28 on Friday, hitting $22.13. 439,181 shares of the company’s stock traded hands, compared to its average volume of 531,114. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 11.47, a PEG ratio of 1.49 and a beta of 1.37. Ares Management LP Unit has a one year low of $18.00 and a one year high of $25.95. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 0.14.

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Monday, December 17th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 5.06%. The ex-dividend date is Friday, December 14th. Ares Management LP Unit’s payout ratio is 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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