Ares Management Corp (NYSE:ARES)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $36.16 and last traded at $36.13, with a volume of 31997 shares changing hands. The stock had previously closed at $35.44.
A number of research analysts have recently issued reports on the company. ValuEngine downgraded Ares Management from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BMO Capital Markets assumed coverage on Ares Management in a report on Monday, October 7th. They issued a “market perform” rating on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $38.00 price target on shares of Ares Management in a report on Monday. Zacks Investment Research downgraded Ares Management from a “hold” rating to a “sell” rating in a report on Wednesday, October 16th. Finally, Barclays set a $33.00 price target on Ares Management and gave the company a “buy” rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $34.14.
The company has a 50 day moving average of $34.01 and a two-hundred day moving average of $29.96. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.12 and a current ratio of 0.12. The stock has a market capitalization of $4.14 billion, a PE ratio of 24.90, a P/E/G ratio of 1.45 and a beta of 1.52.
Ares Management (NYSE:ARES) last announced its earnings results on Thursday, October 31st. The asset manager reported $0.34 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.03). Ares Management had a return on equity of 18.98% and a net margin of 7.76%. The business had revenue of $466.49 million for the quarter, compared to analysts’ expectations of $312.15 million. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s quarterly revenue was up 93.7% compared to the same quarter last year. As a group, research analysts predict that Ares Management Corp will post 1.52 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Tuesday, December 17th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 3.51%. This is an increase from Ares Management’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, December 16th. Ares Management’s payout ratio is 90.14%.
Hedge funds have recently made changes to their positions in the stock. Quantamental Technologies LLC acquired a new stake in Ares Management during the 2nd quarter worth about $71,000. Usca Ria LLC acquired a new stake in Ares Management during the 3rd quarter worth about $80,000. FNY Investment Advisers LLC acquired a new stake in Ares Management during the 3rd quarter worth about $99,000. Tower Research Capital LLC TRC acquired a new stake in Ares Management during the 3rd quarter worth about $120,000. Finally, NumerixS Investment Technologies Inc acquired a new stake in Ares Management during the 2nd quarter worth about $131,000. Hedge funds and other institutional investors own 66.68% of the company’s stock.
About Ares Management (NYSE:ARES)
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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