Ares Management Co. to Post Q1 2022 Earnings of $0.68 Per Share, Oppenheimer Forecasts (NYSE:ARES)

Ares Management Co. (NYSE:ARES) – Research analysts at Oppenheimer issued their Q1 2022 earnings per share (EPS) estimates for Ares Management in a research report issued on Thursday, January 13th. Oppenheimer analyst C. Kotowski anticipates that the asset manager will earn $0.68 per share for the quarter. Oppenheimer also issued estimates for Ares Management’s Q2 2022 earnings at $0.71 EPS, Q3 2022 earnings at $0.75 EPS, Q4 2022 earnings at $0.88 EPS, FY2022 earnings at $3.02 EPS and FY2023 earnings at $3.70 EPS.

Ares Management (NYSE:ARES) last announced its quarterly earnings data on Wednesday, October 27th. The asset manager reported $0.62 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.02). Ares Management had a return on equity of 14.96% and a net margin of 10.23%. The firm had revenue of $512.59 million for the quarter, compared to analyst estimates of $528.44 million. During the same period in the previous year, the business posted $0.48 EPS.

Other analysts have also issued research reports about the company. Jefferies Financial Group boosted their price target on Ares Management from $82.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, September 30th. Bank of America started coverage on Ares Management in a research report on Thursday, December 16th. They issued a “buy” rating and a $117.00 price objective for the company. Zacks Investment Research upgraded Ares Management from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Wednesday. Wells Fargo & Company started coverage on Ares Management in a research report on Wednesday, December 15th. They issued an “overweight” rating and a $96.00 price objective for the company. Finally, Morgan Stanley reiterated a “hold” rating and issued a $92.00 price objective on shares of Ares Management in a research report on Friday, December 3rd. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $86.44.

Shares of ARES stock opened at $77.12 on Friday. The stock’s fifty day simple moving average is $81.27 and its 200 day simple moving average is $76.44. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.19 and a quick ratio of 0.19. The firm has a market cap of $22.36 billion, a price-to-earnings ratio of 40.17, a P/E/G ratio of 0.82 and a beta of 1.02. Ares Management has a one year low of $44.43 and a one year high of $90.08.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kore Private Wealth LLC raised its stake in Ares Management by 2.9% in the second quarter. Kore Private Wealth LLC now owns 5,340 shares of the asset manager’s stock valued at $340,000 after buying an additional 149 shares during the period. Park Avenue Securities LLC increased its stake in shares of Ares Management by 1.0% during the third quarter. Park Avenue Securities LLC now owns 16,050 shares of the asset manager’s stock worth $1,185,000 after purchasing an additional 156 shares during the period. Strategic Blueprint LLC increased its stake in shares of Ares Management by 2.2% during the second quarter. Strategic Blueprint LLC now owns 10,488 shares of the asset manager’s stock worth $667,000 after purchasing an additional 227 shares during the period. Raymond James Financial Services Advisors Inc. grew its position in Ares Management by 0.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 34,688 shares of the asset manager’s stock worth $2,561,000 after buying an additional 227 shares in the last quarter. Finally, Harbor Investment Advisory LLC grew its position in Ares Management by 120.0% during the third quarter. Harbor Investment Advisory LLC now owns 550 shares of the asset manager’s stock worth $41,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 44.42% of the company’s stock.

In other news, CEO Michael J. Arougheti sold 46,721 shares of the company’s stock in a transaction dated Thursday, January 13th. The stock was sold at an average price of $77.81, for a total transaction of $3,635,361.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider R. Kipp Deveer sold 30,608 shares of the company’s stock in a transaction dated Wednesday, November 3rd. The stock was sold at an average price of $85.97, for a total value of $2,631,369.76. The disclosure for this sale can be found here. Over the last three months, insiders sold 320,741 shares of company stock valued at $26,589,266. Insiders own 49.34% of the company’s stock.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Friday, December 17th were paid a $0.47 dividend. The ex-dividend date was Thursday, December 16th. This represents a $1.88 dividend on an annualized basis and a yield of 2.44%. Ares Management’s payout ratio is 97.92%.

About Ares Management

Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S.

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