Ares Management LP (ARES) Receives Consensus Rating of “Hold” from Brokerages
Shares of Ares Management LP (NYSE:ARES) have been assigned an average rating of “Hold” from the six analysts that are currently covering the stock. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $17.33.
Several equities analysts have recently issued reports on ARES shares. Keefe, Bruyette & Woods set a $21.00 price target on shares of Ares Management and gave the company a “buy” rating in a report on Saturday, October 15th. Zacks Investment Research raised shares of Ares Management from a “hold” rating to a “buy” rating and set a $21.00 price target for the company in a report on Tuesday, October 11th. TheStreet raised shares of Ares Management from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Morgan Stanley set a $15.00 price target on shares of Ares Management and gave the company a “hold” rating in a report on Thursday, August 11th. Finally, Bank of America Corp. lowered shares of Ares Management from a “buy” rating to a “neutral” rating in a report on Wednesday, August 10th. They noted that the move was a valuation call.
Ares Management (NYSE:ARES) traded down 0.29% during trading on Tuesday, reaching $16.95. The company’s stock had a trading volume of 14,043 shares. The company has a market cap of $3.63 billion, a P/E ratio of 19.62 and a beta of 1.14. The company’s 50 day moving average price is $17.06 and its 200 day moving average price is $16.35. Ares Management has a 52 week low of $10.72 and a 52 week high of $19.54.
Ares Management (NYSE:ARES) last issued its earnings results on Monday, November 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.38 by $0.08. The company earned $335.46 million during the quarter, compared to analysts’ expectations of $166 million. Ares Management had a net margin of 7.79% and a return on equity of 25.44%. On average, equities analysts anticipate that Ares Management will post $1.32 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 5th. Investors of record on Monday, November 21st will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Thursday, November 17th. Ares Management’s payout ratio is presently 94.12%.
A number of institutional investors have recently made changes to their positions in the company. BlackRock Investment Management LLC raised its position in shares of Ares Management by 4.6% in the third quarter. BlackRock Investment Management LLC now owns 43,016 shares of the company’s stock worth $749,000 after buying an additional 1,900 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Ares Management by 1.9% in the third quarter. BlackRock Advisors LLC now owns 209,184 shares of the company’s stock worth $3,642,000 after buying an additional 4,000 shares during the last quarter. Morgan Stanley increased its position in Ares Management by 2.3% in the third quarter. Morgan Stanley now owns 181,322 shares of the company’s stock worth $3,157,000 after buying an additional 4,044 shares in the last quarter. KCG Holdings Inc. acquired a new position in Ares Management during the third quarter worth approximately $176,000. Finally, PNC Financial Services Group Inc. increased its position in Ares Management by 10.7% in the third quarter. PNC Financial Services Group Inc. now owns 114,754 shares of the company’s stock worth $1,997,000 after buying an additional 11,081 shares in the last quarter. 10.06% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: This article was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another publication, it was copied illegally and republished in violation of US and international copyright & trademark legislation. The original version of this article can be read at https://www.thecerbatgem.com/2016/11/29/ares-management-lp-ares-receives-consensus-rating-of-hold-from-brokerages.html.
About Ares Management
Ares Management, L.P. is an alternative asset manager. The Company operates through four segments: Tradable Credit Group, Direct Lending Group, Private Equity Group and Real Estate Group. Its Tradable Credit Group is a participant in the tradable, non-investment grade corporate credit markets and manages various types of investment funds, ranging from commingled and separately managed accounts for institutional investors to publicly traded vehicles and sub-advised funds for retail investors.
Receive News & Stock Ratings for Ares Management LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Management LP and related stocks with our FREE daily email newsletter.