Ares Management LP Unit (ARES) Expected to Post Quarterly Sales of $208.37 Million

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Wall Street analysts expect Ares Management LP Unit (NYSE:ARES) to report $208.37 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Ares Management LP Unit’s earnings. The lowest sales estimate is $207.00 million and the highest is $210.42 million. Ares Management LP Unit reported sales of $183.18 million during the same quarter last year, which indicates a positive year over year growth rate of 13.8%. The company is expected to issue its next earnings report before the market opens on Thursday, November 1st.

On average, analysts expect that Ares Management LP Unit will report full-year sales of $823.42 million for the current year, with estimates ranging from $819.00 million to $830.57 million. For the next fiscal year, analysts expect that the business will post sales of $944.20 million, with estimates ranging from $913.00 million to $966.40 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Ares Management LP Unit.

Ares Management LP Unit (NYSE:ARES) last posted its quarterly earnings data on Thursday, August 2nd. The asset manager reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($0.06). Ares Management LP Unit had a net margin of 8.70% and a return on equity of 30.98%. The company had revenue of $204.20 million for the quarter, compared to analyst estimates of $320.11 million. During the same quarter last year, the company earned $0.69 EPS. The business’s revenue was down 63.1% compared to the same quarter last year.

ARES has been the topic of several research reports. JPMorgan Chase & Co. reiterated a “$21.50” rating and issued a $23.00 price target on shares of Ares Management LP Unit in a report on Monday, July 23rd. ValuEngine upgraded shares of Ares Management LP Unit from a “hold” rating to a “buy” rating in a report on Wednesday, September 19th. Bank of America increased their price target on shares of Ares Management LP Unit from $26.00 to $27.00 and gave the stock a “buy” rating in a report on Monday, September 17th. Jefferies Financial Group initiated coverage on shares of Ares Management LP Unit in a report on Thursday, June 28th. They issued a “buy” rating on the stock. Finally, Morgan Stanley increased their price target on shares of Ares Management LP Unit from $24.00 to $25.00 and gave the stock a “hold” rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $27.00.

In related news, CFO Michael R. Mcferran acquired 7,500 shares of the stock in a transaction on Monday, August 13th. The shares were acquired at an average price of $21.21 per share, for a total transaction of $159,075.00. The purchase was disclosed in a filing with the SEC, which is available at this link.

Several large investors have recently made changes to their positions in the company. Segall Bryant & Hamill LLC lifted its position in shares of Ares Management LP Unit by 0.9% during the 2nd quarter. Segall Bryant & Hamill LLC now owns 504,125 shares of the asset manager’s stock valued at $10,435,000 after buying an additional 4,575 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Ares Management LP Unit by 785.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 5,313 shares of the asset manager’s stock valued at $110,000 after buying an additional 4,713 shares in the last quarter. LLBH Private Wealth Management LLC lifted its position in shares of Ares Management LP Unit by 6.2% during the 2nd quarter. LLBH Private Wealth Management LLC now owns 104,566 shares of the asset manager’s stock valued at $2,165,000 after buying an additional 6,078 shares in the last quarter. Sei Investments Co. lifted its position in shares of Ares Management LP Unit by 14.9% during the 2nd quarter. Sei Investments Co. now owns 85,982 shares of the asset manager’s stock valued at $1,780,000 after buying an additional 11,131 shares in the last quarter. Finally, Gator Capital Management LLC lifted its position in shares of Ares Management LP Unit by 14.1% during the 2nd quarter. Gator Capital Management LLC now owns 115,487 shares of the asset manager’s stock valued at $2,391,000 after buying an additional 14,250 shares in the last quarter. Hedge funds and other institutional investors own 39.55% of the company’s stock.

NYSE:ARES traded up $0.03 during midday trading on Wednesday, hitting $20.72. The company’s stock had a trading volume of 535,619 shares, compared to its average volume of 455,354. Ares Management LP Unit has a fifty-two week low of $18.00 and a fifty-two week high of $25.95. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.41. The company has a market cap of $2.28 billion, a PE ratio of 10.74, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25.

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 13th. This represents a $1.12 annualized dividend and a yield of 5.41%. Ares Management LP Unit’s dividend payout ratio is presently 58.03%.

About Ares Management LP Unit

Ares Management, L.P. 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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