Ares Management Corp reports results for the quarter ended September 30 - Earnings Summary

• Ares Management Corp ARES reported quarterly adjusted earnings of $1.19​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 95 cents. The mean expectation of sixteen analysts for the quarter was for earnings of $1.16 per share. Wall Street expected results to range from $1.09 to $1.27 per share.

• Revenue rose 46.7% to $1.66 billion from a year ago; analysts expected $1.05 billion.

• Ares Management Corp's reported EPS for the quarter was $1.15​.

• The company reported quarterly net income of $263.57 million.

• Ares Management Corp shares had fallen by 7.0% this quarter and lost 16.0% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 0.1% in the last three months.​

• In the last 30 days, two analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy," 6 "hold" and no "sell" or "strong sell." The average consensus recommendation for the investment management & fund operators peer group is also "buy"

• Wall Street's median 12-month price target for Ares Management Corp is $182.50, about 18.5% above its last closing price of $148.71

This summary was machine generated from LSEG data November 3 at 02:30 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)