Ares Management Co. to Post Q1 2023 Earnings of $0.83 Per Share, Jefferies Financial Group Forecasts (NYSE:ARES)

Posted by on Apr 13th, 2023

Ares Management Co. (NYSE:ARES – Get Rating) – Stock analysts at Jefferies Financial Group upped their Q1 2023 earnings per share (EPS) estimates for Ares Management in a research note issued on Monday, April 10th. Jefferies Financial Group analyst G. O’hara now anticipates that the asset manager will post earnings per share of $0.83 for the quarter, up from their prior forecast of $0.79. The consensus estimate for Ares Management’s current full-year earnings is $4.00 per share. Jefferies Financial Group also issued estimates for Ares Management’s Q2 2023 earnings at $0.94 EPS, Q3 2023 earnings at $1.00 EPS, FY2023 earnings at $4.14 EPS and FY2024 earnings at $5.03 EPS.

Ares Management (NYSE:ARES – Get Rating) last announced its quarterly earnings data on Thursday, February 9th. The asset manager reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.14. Ares Management had a return on equity of 16.82% and a net margin of 5.48%. The company had revenue of $937.72 million for the quarter, compared to analyst estimates of $813.69 million. During the same quarter in the previous year, the company earned $0.85 EPS.

ARES has been the topic of a number of other research reports. BMO Capital Markets lifted their price objective on Ares Management from $89.00 to $91.00 and gave the company a “market perform” rating in a report on Friday, February 10th. Royal Bank of Canada lifted their price objective on Ares Management from $93.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, February 14th. Piper Sandler lifted their price target on shares of Ares Management from $86.00 to $97.00 and gave the company an “overweight” rating in a research report on Monday, February 13th. Barclays lifted their price target on shares of Ares Management from $87.00 to $99.00 and gave the company an “overweight” rating in a research report on Friday, February 10th. Finally, The Goldman Sachs Group lifted their price target on shares of Ares Management from $89.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, February 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Ares Management currently has an average rating of “Moderate Buy” and a consensus price target of $95.89.

Ares Management Price Performance

Shares of ARES opened at $81.65 on Wednesday. Ares Management has a twelve month low of $53.15 and a twelve month high of $87.50. The stock’s 50 day moving average is $80.99 and its two-hundred day moving average is $75.61. The firm has a market capitalization of $24.23 billion, a PE ratio of 96.06, a P/E/G ratio of 0.74 and a beta of 1.31. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.64.

Hedge Funds Weigh In On Ares Management

A number of institutional investors have recently added to or reduced their stakes in ARES. Geneos Wealth Management Inc. lifted its holdings in Ares Management by 300.0% in the 1st quarter. Geneos Wealth Management Inc. now owns 400 shares of the asset manager’s stock worth $32,000 after buying an additional 300 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Ares Management by 951.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 515 shares of the asset manager’s stock valued at $35,000 after purchasing an additional 466 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Ares Management by 2,395.7% in the 3rd quarter. Hexagon Capital Partners LLC now owns 574 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 551 shares in the last quarter. Benjamin F. Edwards & Company Inc. acquired a new stake in shares of Ares Management in the 3rd quarter valued at about $43,000. Finally, Zions Bancorporation N.A. acquired a new stake in shares of Ares Management in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 47.96% of the company’s stock.

Insider Activity

In other news, Chairman Antony P. Ressler sold 25,269 shares of the business’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $85.19, for a total transaction of $2,152,666.11. Following the completion of the sale, the chairman now directly owns 712,670 shares of the company’s stock, valued at approximately $60,712,357.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Chairman Antony P. Ressler sold 25,269 shares of the company’s stock in a transaction on Wednesday, February 1st. The shares were sold at an average price of $85.19, for a total transaction of $2,152,666.11. Following the completion of the sale, the chairman now directly owns 712,670 shares of the company’s stock, valued at approximately $60,712,357.30. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Antony P. Ressler sold 94,211 shares of the company’s stock in a transaction on Friday, February 3rd. The stock was sold at an average price of $85.13, for a total transaction of $8,020,182.43. Following the sale, the chairman now directly owns 480,027 shares of the company’s stock, valued at $40,864,698.51. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 4,969,116 shares of company stock valued at $34,837,651 and sold 5,121,973 shares valued at $154,478,492. Corporate insiders own 47.38% of the company’s stock.

Ares Management Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 17th were paid a $0.77 dividend. This is a boost from Ares Management’s previous quarterly dividend of $0.61. This represents a $3.08 annualized dividend and a yield of 3.77%. The ex-dividend date was Thursday, March 16th. Ares Management’s payout ratio is presently 362.35%.

Ares Management Company Profile

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Ares Management Corp. is engaged in providing investment management and consultancy services. It operates through the following segments: Credit Group, Private Equity Group and Real Estate Group. The Credit Group segment offers credit strategies across the liquid and illiquid spectrum, including syndicated bank loans, high yield bonds, credit opportunities, special situations, asset-backed investments and U.S.

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Earnings History and Estimates for Ares Management (NYSE:ARES)

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