Brokerages predict that Ares Management Corp (NYSE:ARES) will announce sales of $321.72 million for the current quarter, Zacks reports. Three analysts have provided estimates for Ares Management’s earnings, with the lowest sales estimate coming in at $313.00 million and the highest estimate coming in at $328.66 million. Ares Management reported sales of $194.03 million during the same quarter last year, which indicates a positive year over year growth rate of 65.8%. The firm is expected to issue its next earnings results before the market opens on Wednesday, July 31st.
According to Zacks, analysts expect that Ares Management will report full year sales of $1.31 billion for the current financial year, with estimates ranging from $1.29 billion to $1.32 billion. For the next year, analysts forecast that the firm will post sales of $1.55 billion, with estimates ranging from $1.51 billion to $1.59 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Ares Management.
Ares Management (NYSE:ARES) last posted its quarterly earnings results on Thursday, May 2nd. The asset manager reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.02). The business had revenue of $224.66 million during the quarter, compared to the consensus estimate of $228.42 million. Ares Management had a net margin of 5.22% and a return on equity of 25.86%. During the same quarter last year, the company posted $0.39 EPS.
In other news, CEO Michael J. Arougheti sold 127,400 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $28.30, for a total transaction of $3,605,420.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael D. Weiner sold 3,600 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $26.01, for a total value of $93,636.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,370,709 shares of company stock worth $37,208,269. 151.62% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Cordasco Financial Network acquired a new stake in shares of Ares Management during the first quarter valued at about $70,000. Marshall Wace LLP acquired a new stake in shares of Ares Management during the first quarter valued at about $145,000. Marshall Wace North America L.P. acquired a new stake in shares of Ares Management during the first quarter valued at about $175,000. Barclays PLC boosted its stake in shares of Ares Management by 105.2% during the fourth quarter. Barclays PLC now owns 10,258 shares of the asset manager’s stock valued at $183,000 after purchasing an additional 5,258 shares in the last quarter. Finally, Alpine Global Management LLC acquired a new stake in shares of Ares Management during the second quarter valued at about $202,000. 60.08% of the stock is currently owned by institutional investors and hedge funds.
ARES stock traded down $0.30 during trading hours on Friday, hitting $28.13. 429,638 shares of the stock were exchanged, compared to its average volume of 1,316,665. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.12 and a quick ratio of 0.12. The firm has a market cap of $2.91 billion, a price-to-earnings ratio of 19.81, a P/E/G ratio of 1.44 and a beta of 1.38. The firm has a 50-day moving average price of $26.94. Ares Management has a 12 month low of $16.18 and a 12 month high of $28.63.
The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 4.55%. The ex-dividend date was Thursday, June 13th. Ares Management’s dividend payout ratio (DPR) is currently 90.14%.
About Ares Management
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.
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