Ares Management (NYSE:ARES) Releases Quarterly Earnings Results, Misses Expectations By $0.13 EPS

Ares Management (NYSE:ARES) posted its quarterly earnings data 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. The firm had revenue of $707.36 million during the quarter, compared to analysts’ expectations of $814.88 million. Ares Management had a net margin of 13.06% and a return on equity of 21.01%. During the same quarter last year, the business earned $0.71 earnings per share.

Ares Management Price Performance

ARES traded down $2.70 during midday trading on Friday, reaching $131.94. 1,085,269 shares of the company’s stock were exchanged, compared to its average volume of 1,031,124. Ares Management has a 1-year low of $77.97 and a 1-year high of $139.48. The stock has a market capitalization of $40.85 billion, a PE ratio of 55.21, a P/E/G ratio of 0.99 and a beta of 1.17. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.02 and a quick ratio of 1.02. The business’s 50-day moving average price is $133.10 and its 200 day moving average price is $121.40.

Ares Management Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued 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 yield of 2.82%. Ares Management’s dividend payout ratio (DPR) is currently 155.65%.

Analyst Upgrades and Downgrades

ARES has been the topic of several analyst reports. Royal Bank of Canada lifted their target price on shares of Ares Management from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Monday, February 12th. JPMorgan Chase & Co. lifted their price target on Ares Management from $119.00 to $141.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Morgan Stanley upped their price objective on Ares Management from $109.00 to $118.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 24th. Wells Fargo & Company raised their target price on Ares Management from $112.00 to $126.00 and gave the company an “equal weight” rating in a report on Friday, February 9th. Finally, Jefferies Financial Group cut shares of Ares Management from a “buy” rating to a “hold” rating and set a $122.00 price target on the stock. in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $125.92.

Insider Activity

In other Ares Management news, insider R. Kipp Deveer sold 80,637 shares of the firm’s stock in a transaction on Friday, February 16th. The stock was sold at an average price of $135.25, for a total transaction of $10,906,154.25. Following the completion of the transaction, the insider now owns 1,116,676 shares of the company’s stock, valued at $151,030,429. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Ares Management news, insider R. Kipp Deveer sold 80,637 shares of the firm’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $135.25, for a total transaction of $10,906,154.25. Following the sale, the insider now directly owns 1,116,676 shares of the company’s stock, valued at approximately $151,030,429. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Arougheti sold 74,585 shares of Ares Management stock in a transaction dated Thursday, March 14th. The stock was sold at an average price of $132.97, for a total transaction of $9,917,567.45. Following the sale, the chief executive officer now owns 1,375,000 shares of the company’s stock, valued at $182,833,750. The disclosure for this sale can be found here. Insiders have sold 1,494,440 shares of company stock worth $199,049,946 over the last ninety days. 1.20% of the stock is currently owned by insiders.

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.