Ares Management Corporation (NYSE:ARES) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Ares Management Corporation (NYSE:ARES) have been assigned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $159.81.

ARES has been the topic of several recent research reports. TD Cowen upped their price objective on Ares Management from $153.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Piper Sandler started coverage on Ares Management in a research report on Thursday. They set an “overweight” rating and a $150.00 price objective for the company. Wall Street Zen downgraded shares of Ares Management from a “hold” rating to a “sell” rating in a research note on Saturday, July 4th. JPMorgan Chase & Co. upped their target price on shares of Ares Management from $143.00 to $153.00 and gave the company an “overweight” rating in a report on Monday, August 3rd. Finally, BMO Capital Markets raised their price target on shares of Ares Management from $128.00 to $134.00 and gave the stock a “market perform” rating in a research note on Monday, August 3rd.

Ares Management Trading Down 1.2%

Shares of ARES opened at $119.99 on Friday. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.26 and a quick ratio of 0.26. Ares Management has a 1-year low of $95.80 and a 1-year high of $181.19. The stock has a market cap of $39.63 billion, a price-to-earnings ratio of 55.04, a price-to-earnings-growth ratio of 1.08 and a beta of 1.49. The firm has a 50 day simple moving average of $134.04 and a 200-day simple moving average of $123.22.

Ares Management (NYSE:ARES) last posted its earnings results 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. The firm had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.27 billion. Ares Management had a return on equity of 25.42% and a net margin of 10.63%.Ares Management’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.03 EPS. Equities analysts forecast that Ares Management will post 5.93 EPS for the current fiscal year.

Ares Management Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Wednesday, September 16th will be paid a dividend of $1.35 per share. The ex-dividend date of this dividend is Wednesday, September 16th. This represents a $5.40 annualized dividend and a dividend yield of 4.5%. Ares Management’s dividend payout ratio is presently 247.71%.

Institutional Trading of Ares Management

Several hedge funds and other institutional investors have recently bought and sold shares of ARES. Renaissance Technologies LLC purchased a new stake in Ares Management during the first quarter valued at about $9,350,000. King Luther Capital Management Corp raised its holdings in shares of Ares Management by 7.7% in the 4th quarter. King Luther Capital Management Corp now owns 186,957 shares of the asset manager’s stock worth $30,218,000 after purchasing an additional 13,306 shares during the period. Kingsview Wealth Management LLC acquired a new position in shares of Ares Management in the 4th quarter valued at about $3,519,000. Bank of Nova Scotia lifted its stake in shares of Ares Management by 156.1% in the 1st quarter. Bank of Nova Scotia now owns 79,469 shares of the asset manager’s stock valued at $8,671,000 after purchasing an additional 48,438 shares in the last quarter. Finally, Wealthfront Advisers LLC grew its holdings in shares of Ares Management by 88.7% during the 1st quarter. Wealthfront Advisers LLC now owns 43,582 shares of the asset manager’s stock worth $4,755,000 after purchasing an additional 20,490 shares during the period. 50.03% of the stock is owned by hedge funds and other institutional investors.

Ares Management Company Profile

Ares Management Corporation is a global alternative investment manager that provides investment solutions across credit, private equity, real assets and secondaries. The company manages capital for institutional investors, financial intermediaries and individual investors through a range of private funds, public-market strategies and other investment vehicles.

Its investment activities include direct lending and other forms of private credit, corporate and growth-oriented private equity, real estate and infrastructure investments, and secondary-market transactions involving private investment interests.