Ares Management Corporation Plans Quarterly Dividend of $1.35 (NYSE:ARES)

Ares Management Corporation (NYSE:ARES) announced a quarterly dividend on Friday, July 31st. Shareholders of record on Wednesday, September 16th will be paid a dividend of 1.35 per share by the asset manager on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Wednesday, September 16th.

Ares Management has raised its dividend payment by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Ares Management has a dividend 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 tumble. Equities research analysts expect Ares Management to earn $7.33 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 73.7%.

Ares Management Stock Performance

ARES traded up $4.19 during trading on Friday, hitting $128.31. The company’s stock had a trading volume of 4,174,760 shares, compared to its average volume of 3,204,200. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.96. Ares Management has a one year low of $95.80 and a one year high of $195.26. The firm has a market cap of $42.32 billion, a PE ratio of 59.68, a P/E/G ratio of 1.11 and a beta of 1.51. The business’s 50 day simple moving average is $123.75 and its 200-day simple moving average is $123.94.

Ares Management (NYSE:ARES) last issued its quarterly earnings data on Friday, July 31st. The asset manager reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.01. Ares Management had a net margin of 10.54% and a return on equity of 22.14%. The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.03 earnings per share. As a group, sell-side analysts predict that Ares Management will post 5.98 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ARES shares. Morgan Stanley set a $160.00 target price on shares of Ares Management in a research report on Tuesday, July 21st. Royal Bank Of Canada reissued an “outperform” rating on shares of Ares Management in a report on Wednesday, April 29th. Zacks Research raised shares of Ares Management from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 5th. The Goldman Sachs Group lowered their price target on shares of Ares Management from $165.00 to $131.00 and set a “buy” rating for the company in a report on Tuesday, April 7th. Finally, Barclays dropped their price target on Ares Management from $140.00 to $139.00 and set an “overweight” rating for the company in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Ares Management has an average rating of “Moderate Buy” and a consensus price target of $158.93.

About Ares Management

Ares Management Corporation (NYSE: ARES) is a global alternative asset manager that provides investment solutions across credit, private equity and real estate. The firm originates and manages capital across a range of strategies including direct lending, syndicated and special situations credit, private equity buyouts and growth investments, and real estate equity and debt. Ares serves institutional investors, insurance companies, pension funds, sovereign wealth funds, and high‑net‑worth clients through both commingled funds and bespoke managed account structures.

Within credit, Ares offers strategies spanning leveraged loans, structured credit, opportunistic and distressed debt, and specialty finance, with an emphasis on underwriting, portfolio construction and active asset management.