$0.42 EPS Expected for Ares Management LP (ARES) This Quarter

Equities research analysts expect Ares Management LP (NYSE:ARES) to report $0.42 earnings per share (EPS) for the current quarter, Zacks reports. Two analysts have made estimates for Ares Management’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.49. Ares Management posted earnings per share of $0.44 during the same quarter last year, which would suggest a negative year over year growth rate of 4.5%. The company is expected to issue its next earnings results on Friday, February 23rd.

According to Zacks, analysts expect that Ares Management will report full-year earnings of $1.81 per share for the current year, with EPS estimates ranging from $1.77 to $1.87. For the next year, analysts forecast that the company will report earnings of $1.80 per share, with EPS estimates ranging from $1.65 to $1.90. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that cover Ares Management.

Ares Management (NYSE:ARES) last posted its quarterly earnings data on Friday, November 3rd. The asset manager reported $0.40 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.01. Ares Management had a net margin of 4.98% and a return on equity of 39.54%. The firm had revenue of $283.67 million for the quarter, compared to the consensus estimate of $286.76 million. During the same quarter in the prior year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was down 15.4% compared to the same quarter last year.

Several research firms have recently issued reports on ARES. TheStreet downgraded shares of Ares Management from a “b” rating to a “c+” rating in a report on Wednesday, November 8th. BidaskClub upgraded shares of Ares Management from a “hold” rating to a “buy” rating in a report on Saturday, November 11th. Royal Bank of Canada reiterated a “buy” rating on shares of Ares Management in a report on Friday, November 3rd. Zacks Investment Research upgraded shares of Ares Management from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a report on Monday, October 9th. Finally, Oppenheimer started coverage on shares of Ares Management in a report on Thursday, September 21st. They issued an “outperform” rating and a $18.00 price target on the stock. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Ares Management presently has an average rating of “Buy” and an average price target of $21.29.

Ares Management (NYSE:ARES) opened at $20.10 on Friday. Ares Management has a fifty-two week low of $17.15 and a fifty-two week high of $23.25. The company has a current ratio of 0.37, a quick ratio of 0.37 and a debt-to-equity ratio of 0.56. The stock has a market cap of $1,652.44, a PE ratio of 35.89, a PEG ratio of 0.80 and a beta of 1.23.

A number of large investors have recently modified their holdings of the stock. Royce & Associates LP increased its holdings in Ares Management by 0.4% in the 3rd quarter. Royce & Associates LP now owns 3,778,587 shares of the asset manager’s stock worth $70,471,000 after buying an additional 16,811 shares during the period. American Century Companies Inc. increased its holdings in Ares Management by 2.1% in the 3rd quarter. American Century Companies Inc. now owns 1,208,538 shares of the asset manager’s stock worth $22,539,000 after buying an additional 24,976 shares during the period. EJF Capital LLC grew its stake in shares of Ares Management by 17.2% during the 3rd quarter. EJF Capital LLC now owns 1,086,804 shares of the asset manager’s stock worth $20,269,000 after purchasing an additional 159,544 shares during the period. Wells Fargo & Company MN grew its stake in shares of Ares Management by 10.2% during the 3rd quarter. Wells Fargo & Company MN now owns 626,996 shares of the asset manager’s stock worth $11,693,000 after purchasing an additional 58,216 shares during the period. Finally, Capital World Investors acquired a new stake in shares of Ares Management during the 2nd quarter worth approximately $9,649,000. Institutional investors own 15.60% of the company’s stock.

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Ares Management 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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