Zacks Investment Research upgraded shares of Ares Management (NYSE:ARES) from a hold rating to a buy rating in a report issued on Monday, Zacks.com reports. Zacks Investment Research currently has $41.00 price objective on the asset manager’s stock.
According to Zacks, “Ares Management, L.P. is a global alternative asset manager. It manages four investment groups that invest in the tradable credit, direct lending, and private equity and real estate markets. The company’s Tradable Credit Group segment manages various types of investment funds, such as commingled and separately managed accounts. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies. The company’s Private Equity Group segment focuses on majority or shared-control investments primarily in under-capitalized companies. Its Real Estate Group segment invests in new developments and the repositioning of assets; and originates and invests in a range of self-originated financing opportunities for middle-market owners and operators of commercial real estate. Ares Management, L.P. is headquartered in Los Angeles. “
Several other equities analysts have also commented on the stock. Royal Bank of Canada reissued a buy rating and issued a $38.00 target price on shares of Ares Management in a report on Monday, January 6th. Barclays set a $33.00 target price on shares of Ares Management and gave the company a buy rating in a report on Friday, November 1st. Wells Fargo & Co raised their target price on shares of Ares Management from $38.00 to $45.00 and gave the company an overweight rating in a report on Thursday, December 19th. BMO Capital Markets assumed coverage on shares of Ares Management in a report on Monday, October 7th. They issued a market perform rating on the stock. Finally, ValuEngine lowered shares of Ares Management from a buy rating to a hold rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $35.71.
ARES stock opened at $35.82 on Monday. The company has a quick ratio of 0.12, a current ratio of 0.12 and a debt-to-equity ratio of 0.35. Ares Management has a 12 month low of $19.32 and a 12 month high of $37.00. The firm has a market cap of $4.13 billion, a P/E ratio of 24.83, a P/E/G ratio of 1.34 and a beta of 1.52. The company’s 50-day moving average price is $34.45 and its two-hundred day moving average price is $30.25.
Ares Management (NYSE:ARES) last released its earnings results on Thursday, October 31st. The asset manager reported $0.34 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.03). Ares Management had a net margin of 7.76% and a return on equity of 18.98%. The firm had revenue of $466.49 million during the quarter, compared to the consensus estimate of $312.15 million. During the same period in the prior year, the business earned $0.30 earnings per share. Ares Management’s quarterly revenue was up 93.7% compared to the same quarter last year. Equities analysts predict that Ares Management will post 1.52 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 17th were paid a $0.32 dividend. This is an increase from Ares Management’s previous quarterly dividend of $0.09. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date of this dividend was Monday, December 16th. Ares Management’s dividend payout ratio (DPR) is presently 90.14%.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Metropolitan Life Insurance Co NY acquired a new stake in shares of Ares Management in the 3rd quarter valued at approximately $593,000. Millennium Management LLC acquired a new stake in shares of Ares Management in the 3rd quarter valued at approximately $22,691,000. Point72 Asset Management L.P. acquired a new stake in shares of Ares Management in the 3rd quarter valued at approximately $3,437,000. Penserra Capital Management LLC acquired a new stake in shares of Ares Management in the 3rd quarter valued at approximately $1,544,000. Finally, California State Teachers Retirement System boosted its stake in shares of Ares Management by 5.3% in the 3rd quarter. California State Teachers Retirement System now owns 104,375 shares of the asset manager’s stock valued at $2,798,000 after purchasing an additional 5,232 shares in the last quarter. Institutional investors own 66.68% 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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