Ares Management L.P. (ARES) Earns Buy Rating from Keefe, Bruyette & Woods
Keefe, Bruyette & Woods reissued their buy rating on shares of Ares Management L.P. (NYSE:ARES) in a research note published on Tuesday morning. Keefe, Bruyette & Woods currently has a $22.00 price target on the asset manager’s stock.
Several other analysts also recently weighed in on ARES. BidaskClub downgraded Ares Management L.P. from a hold rating to a sell rating in a research report on Saturday, August 5th. TheStreet upgraded Ares Management L.P. from a c rating to a b- rating in a research report on Thursday, August 17th. ValuEngine downgraded Ares Management L.P. from a strong-buy rating to a buy rating in a research report on Thursday, July 27th. Royal Bank Of Canada set a $21.00 target price on Ares Management L.P. and gave the company a buy rating in a research report on Saturday, August 5th. Finally, Zacks Investment Research cut Ares Management L.P. from a buy rating to a hold rating in a research note on Thursday, July 20th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of Buy and an average target price of $21.29.
Shares of Ares Management L.P. (NYSE ARES) opened at 17.80 on Tuesday. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 23.83 and a beta of 1.25. Ares Management L.P. has a 52 week low of $14.75 and a 52 week high of $23.25. The stock has a 50 day moving average price of $18.16 and a 200-day moving average price of $18.66.
Ares Management L.P. (NYSE:ARES) last announced its quarterly earnings data on Friday, August 4th. The asset manager reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. Ares Management L.P. had a return on equity of 40.94% and a net margin of 5.86%. The business had revenue of $554 million during the quarter, compared to the consensus estimate of $442.10 million. During the same period in the prior year, the company earned $0.40 EPS. Ares Management L.P.’s revenue for the quarter was up 49.9% on a year-over-year basis. On average, equities research analysts forecast that Ares Management L.P. will post $1.84 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a $0.31 dividend. The ex-dividend date of this dividend was Wednesday, August 16th. This represents a $1.24 annualized dividend and a yield of 6.97%. This is a positive change from Ares Management L.P.’s previous quarterly dividend of $0.13. Ares Management L.P.’s dividend payout ratio is presently 169.86%.
A number of large investors have recently made changes to their positions in ARES. Royal Bank of Canada boosted its holdings in Ares Management L.P. by 359.8% in the second quarter. Royal Bank of Canada now owns 9,840 shares of the asset manager’s stock worth $177,000 after acquiring an additional 7,700 shares in the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Ares Management L.P. in the second quarter valued at approximately $212,000. Goldman Sachs Group Inc. lifted its holdings in shares of Ares Management L.P. by 37.9% in the second quarter. Goldman Sachs Group Inc. now owns 14,483 shares of the asset manager’s stock valued at $261,000 after purchasing an additional 3,982 shares in the last quarter. Balter Liquid Alternatives LLC bought a new position in shares of Ares Management L.P. in the second quarter valued at approximately $264,000. Finally, Clinton Group Inc. bought a new position in shares of Ares Management L.P. in the second quarter valued at approximately $264,000. Institutional investors and hedge funds own 14.69% of the company’s stock.
Ares Management L.P. Company Profile
Ares Management, L.P. is an alternative asset manager. The Company offers its investors a range of investment strategies. It operates through three segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment manages credit strategies across the non-investment grade credit universe in the United States and Europe.
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