Ares Management LP Unit (ARES) Expected to Announce Quarterly Sales of $208.37 Million
Brokerages expect that Ares Management LP Unit (NYSE:ARES) will announce sales of $208.37 million for the current fiscal quarter, according to Zacks. Three analysts have provided 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 in the same quarter last year, which indicates a positive year over year growth rate of 13.8%. The business is expected to announce its next earnings results on Friday, November 2nd.
According to Zacks, analysts expect that Ares Management LP Unit will report full-year sales of $823.42 million for the current financial year, with estimates ranging from $819.00 million to $830.57 million. For the next financial year, analysts expect that the firm will report sales of $944.20 million per share, with estimates ranging from $913.00 million to $966.40 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Ares Management LP Unit.
Ares Management LP Unit (NYSE:ARES) last released its quarterly earnings data on Thursday, August 2nd. The asset manager reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by ($0.06). Ares Management LP Unit had a return on equity of 30.98% and a net margin of 8.70%. The business had revenue of $204.20 million during the quarter, compared to analyst estimates of $320.11 million. During the same period in the previous year, the company earned $0.69 EPS. Ares Management LP Unit’s revenue was down 63.1% on a year-over-year basis.
Shares of Ares Management LP Unit stock traded up $0.05 during trading hours on Thursday, hitting $21.05. The company’s stock had a trading volume of 349,910 shares, compared to its average volume of 445,058. Ares Management LP Unit has a 1-year low of $17.70 and a 1-year high of $25.95. The firm has a market capitalization of $2.07 billion, a P/E ratio of 10.91, a PEG ratio of 1.56 and a beta of 1.26. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.41.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 5.32%. The ex-dividend date of this dividend is Thursday, September 13th. Ares Management LP Unit’s payout ratio is 58.03%.
In other news, CFO Michael R. Mcferran purchased 7,500 shares of the stock in a transaction that occurred on Monday, August 13th. The stock was acquired at an average cost of $21.21 per share, with a total value of $159,075.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link.
A number of hedge funds have recently made changes to their positions in ARES. Wells Fargo & Company MN grew its holdings in Ares Management LP Unit by 8.6% during the 1st quarter. Wells Fargo & Company MN now owns 978,537 shares of the asset manager’s stock worth $20,941,000 after acquiring an additional 77,651 shares in the last quarter. American Century Companies Inc. grew its holdings in Ares Management LP Unit by 19.8% during the 1st quarter. American Century Companies Inc. now owns 1,459,769 shares of the asset manager’s stock worth $31,239,000 after acquiring an additional 241,242 shares in the last quarter. Greenwich Investment Management Inc. grew its holdings in Ares Management LP Unit by 135.9% during the 1st quarter. Greenwich Investment Management Inc. now owns 130,946 shares of the asset manager’s stock worth $2,802,000 after acquiring an additional 75,430 shares in the last quarter. PM CAPITAL Ltd grew its holdings in Ares Management LP Unit by 43.0% during the 1st quarter. PM CAPITAL Ltd now owns 1,172,959 shares of the asset manager’s stock worth $25,101,000 after acquiring an additional 352,800 shares in the last quarter. Finally, BlackRock Inc. acquired a new position in Ares Management LP Unit during the 1st quarter worth $2,422,000. 39.62% of the stock is owned by institutional investors.
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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