Ares Management (NYSE:ARES) Posts Quarterly Earnings Results

Ares Management (NYSE:ARES) posted its quarterly earnings results on Thursday. The asset manager reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.93 by ($0.13), Briefing.com reports. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. The company had revenue of $707.36 million during the quarter, compared to analyst estimates of $814.88 million. During the same period last year, the company earned $0.71 EPS.

Ares Management Stock Down 2.0 %

Ares Management stock traded down $2.70 during midday trading on Friday, reaching $131.94. The stock had a trading volume of 1,085,269 shares, compared to its average volume of 1,031,124. The stock has a market capitalization of $40.85 billion, a P/E ratio of 55.21, a price-to-earnings-growth ratio of 0.99 and a beta of 1.17. The firm’s fifty day simple moving average is $133.10 and its 200-day simple moving average is $121.40. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.02 and a current ratio of 1.02. Ares Management has a 1-year low of $77.97 and a 1-year high of $139.48.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be given a dividend of $0.93 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $3.72 annualized dividend and a dividend yield of 2.82%. Ares Management’s dividend payout ratio is currently 155.65%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ARES. Jefferies Financial Group lowered Ares Management from a “buy” rating to a “hold” rating and set a $122.00 target price on the stock. in a research note on Tuesday, January 9th. Barclays reduced their price objective on shares of Ares Management from $153.00 to $150.00 and set an “overweight” rating on the stock in a research note on Friday. JMP Securities reaffirmed a “market perform” rating on shares of Ares Management in a research note on Tuesday, April 9th. Wells Fargo & Company lifted their price target on shares of Ares Management from $112.00 to $126.00 and gave the stock an “equal weight” rating in a research report on Friday, February 9th. Finally, UBS Group upped their price objective on shares of Ares Management from $156.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $125.92.

Insiders Place Their Bets

In related news, Chairman Antony P. Ressler sold 143,569 shares of the stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $131.51, for a total transaction of $18,880,759.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Ares Management news, Chairman Antony P. Ressler sold 143,569 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $131.51, for a total transaction of $18,880,759.19. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider R. Kipp Deveer sold 80,637 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $135.25, for a total value of $10,906,154.25. Following the sale, the insider now owns 1,116,676 shares in the company, valued at approximately $151,030,429. The disclosure for this sale can be found here. Insiders sold a total of 1,494,440 shares of company stock valued at $199,049,946 in the last quarter. 1.20% of the stock is currently owned by insiders.

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.