Ares Management LP Unit (ARES) Expected to Post Earnings of $0.37 Per Share
Equities analysts expect Ares Management LP Unit (NYSE:ARES) to report earnings per share of $0.37 for the current quarter, Zacks reports. Three analysts have provided estimates for Ares Management LP Unit’s earnings, with the highest EPS estimate coming in at $0.44 and the lowest estimate coming in at $0.29. Ares Management LP Unit posted earnings per share of $0.40 during the same quarter last year, which would suggest a negative year over year growth rate of 7.5%. The company is scheduled to issue its next quarterly earnings report before the market opens on Thursday, November 1st.
On average, analysts expect that Ares Management LP Unit will report full-year earnings of $1.49 per share for the current financial year, with EPS estimates ranging from $1.29 to $1.60. For the next year, analysts forecast that the firm will post earnings of $1.92 per share, with EPS estimates ranging from $1.62 to $2.07. Zacks Investment Research’s EPS calculations are an average based on a survey of analysts that that provide coverage for Ares Management LP Unit.
Ares Management LP Unit (NYSE:ARES) last announced its quarterly earnings data on Thursday, August 2nd. The asset manager reported $0.34 earnings per share 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 during the quarter, compared to the consensus estimate of $320.11 million. During the same quarter in the previous year, the business earned $0.69 EPS. Ares Management LP Unit’s revenue was down 63.1% on a year-over-year basis.
In other Ares Management LP Unit news, CFO Michael R. Mcferran bought 7,500 shares of the stock in a transaction dated Monday, August 13th. The shares were bought at an average cost of $21.21 per share, with a total value of $159,075.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Institutional investors and hedge funds have recently made changes to their positions in the company. Algebris UK Ltd bought a new position in shares of Ares Management LP Unit during the second quarter worth approximately $3,990,000. Point72 Europe London LLP bought a new position in shares of Ares Management LP Unit during the first quarter worth approximately $2,461,000. UBS Group AG increased its holdings in shares of Ares Management LP Unit by 16.2% during the first quarter. UBS Group AG now owns 205,410 shares of the asset manager’s stock worth $4,396,000 after purchasing an additional 28,676 shares during the period. Jacobs Asset Management LLC bought a new position in shares of Ares Management LP Unit during the first quarter worth approximately $8,560,000. Finally, Royce & Associates LP increased its holdings in shares of Ares Management LP Unit by 19.4% during the second quarter. Royce & Associates LP now owns 4,297,602 shares of the asset manager’s stock worth $88,960,000 after purchasing an additional 697,436 shares during the period. 39.55% of the stock is currently owned by institutional investors.
NYSE:ARES traded up $0.03 during mid-day trading on Monday, hitting $20.72. The stock had a trading volume of 535,619 shares, compared to its average volume of 455,354. Ares Management LP Unit has a twelve month low of $18.00 and a twelve month high of $25.95. The company has a market capitalization of $2.28 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 1.85 and a beta of 1.25. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.04 and a current ratio of 1.04.
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 dividend of $0.28 per share. 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 (DPR) is presently 58.03%.
Ares Management LP Unit Company Profile
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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