$218.47 Million in Sales Expected for Ares Management Corp (ARES) This Quarter

Analysts expect that Ares Management Corp (NYSE:ARES) will report sales of $218.47 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Ares Management’s earnings. The highest sales estimate is $222.00 million and the lowest is $213.42 million. Ares Management posted sales of $186.43 million during the same quarter last year, which suggests a positive year-over-year growth rate of 17.2%. The business is expected to issue its next earnings report on Thursday, February 21st.

According to Zacks, analysts expect that Ares Management will report full-year sales of $831.28 million for the current year, with estimates ranging from $809.05 million to $852.00 million. For the next financial year, analysts forecast that the company will post sales of $952.06 million, with estimates ranging from $915.59 million to $992.60 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Ares Management.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Thursday, November 1st. The asset manager reported $0.30 earnings per share (EPS) 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 analyst estimates of $240.75 million. Ares Management had a net margin of 7.93% and a return on equity of 29.05%. The firm’s revenue was down 16.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.40 earnings per share.

ARES has been the topic of several analyst reports. TheStreet cut Ares Management from a “b-” rating to a “c” rating in a research note on Friday, December 21st. Goldman Sachs Group upgraded Ares Management from a “neutral” rating to a “buy” rating and set a $23.00 price objective on the stock in a research note on Friday, January 4th. Morgan Stanley increased their price objective on Ares Management from $24.00 to $25.00 and gave the company a “hold” rating in a research note on Tuesday, October 9th. ValuEngine upgraded Ares Management from a “hold” rating to a “buy” rating in a research note on Saturday, November 10th. Finally, Oppenheimer set a $28.00 price target on Ares Management and gave the company a “buy” rating in a research note on Friday, November 2nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $26.25.

Shares of NYSE ARES opened at $19.30 on Friday. The firm has a market capitalization of $1.91 billion, a PE ratio of 10.00, a P/E/G ratio of 1.06 and a beta of 1.52. 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 12-month low of $16.18 and a 12-month high of $25.95.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 31st. Shareholders of record on Monday, December 17th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 5.80%. The ex-dividend date of this dividend was Friday, December 14th. Ares Management’s dividend payout ratio is presently 58.03%.

A number of institutional investors have recently bought and sold shares of the business. Capital World Investors grew its holdings in shares of Ares Management by 55.9% during the third quarter. Capital World Investors now owns 7,676,900 shares of the asset manager’s stock worth $178,104,000 after purchasing an additional 2,753,025 shares during the last quarter. Capital International Investors purchased a new position in shares of Ares Management during the third quarter worth about $44,311,000. The Manufacturers Life Insurance Company grew its holdings in shares of Ares Management by 600.8% during the third quarter. The Manufacturers Life Insurance Company now owns 1,750,687 shares of the asset manager’s stock worth $40,616,000 after purchasing an additional 1,500,871 shares during the last quarter. Laurion Capital Management LP purchased a new position in shares of Ares Management during the third quarter worth about $24,856,000. Finally, FMR LLC grew its holdings in shares of Ares Management by 54.4% during the second quarter. FMR LLC now owns 2,670,476 shares of the asset manager’s stock worth $55,279,000 after purchasing an additional 941,386 shares during the last quarter. Institutional investors own 55.06% of the company’s stock.

Ares Management Company Profile

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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