Ares Management Corporation (NYSE:ARES – Get Free Report) announced a quarterly dividend on Thursday, October 29th. Shareholders of record on Thursday, December 17th will be paid a dividend of $1.35 per share by the asset manager on Thursday, December 31st. This represents a $5.40 annualized dividend and a yield of 4.2%. The ex-dividend date is Thursday, December 17th.
Ares Management has raised its dividend by an average of 0.2% per year over the last three years and has increased its dividend every year for the last 7 years. Ares Management has a payout ratio of 83.1% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Ares Management to earn $7.19 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 75.1%.
Ares Management Trading Up 3.0%
NYSE:ARES traded up $3.75 during trading hours on Thursday, hitting $127.57. The stock had a trading volume of 2,391,909 shares, compared to its average volume of 2,897,374. The business’s 50 day moving average is $126.56 and its 200-day moving average is $125.74. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.26 and a current ratio of 0.26. The company has a market cap of $42.13 billion, a price-to-earnings ratio of 58.52, a P/E/G ratio of 1.11 and a beta of 1.53. Ares Management has a one year low of $95.80 and a one year high of $181.19.
Ares Management (NYSE:ARES – Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.25 by $0.01. Ares Management had a net margin of 10.63% and a return on equity of 25.42%. The company had revenue of $1.43 billion during the quarter, compared to analyst estimates of $1.24 billion. During the same quarter in the previous year, the business earned $1.15 EPS. The firm’s revenue was down 13.5% on a year-over-year basis. Sell-side analysts anticipate that Ares Management will post 5.80 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on ARES. Royal Bank Of Canada boosted their target price on Ares Management from $162.00 to $168.00 and gave the company an “outperform” rating in a research note on Monday, August 3rd. Oppenheimer lifted their price objective on Ares Management from $151.00 to $162.00 and gave the company an “outperform” rating in a report on Thursday, August 27th. Citigroup reiterated a “market outperform” rating on shares of Ares Management in a report on Friday, October 9th. UBS Group lowered their target price on Ares Management from $142.00 to $134.00 and set a “neutral” rating for the company in a research note on Tuesday, October 13th. Finally, Jefferies Financial Group dropped their target price on shares of Ares Management from $144.00 to $132.00 and set a “hold” rating on the stock in a report on Tuesday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.26.
About Ares Management
Ares Management Corporation (NYSE: ARES) is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital on behalf of institutional investors, pension funds, insurance companies, sovereign wealth funds, family offices and individual investors.
Its investment activities include direct lending and other credit strategies, control and minority investments in private companies, real estate and infrastructure investments, and secondary-market transactions involving private assets and fund interests.
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