Ares Management Corporation (NYSE:ARES) is set to announce third quarter earning results on Wednesday 28th October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, ARES to report 3Q20 income of $ 0.41 per share.
For the full year, analysts anticipate top line of $ 1422.11 million, while looking forward to income of $ 1.71 per share bottom line.
Previous Quarter Performance
Ares Management Corporation disclosed income for the second quarter of $ 0.39 per share, from the revenue of $ 277.67 million. The quarterly earnings grew 21.88 percent while revenues fell 7.77 percent compared with the same quarter last year.
Wall street analysts are predicting, ARES to report 2Q20 income of $ 0.38 per share from revenue of $ 343.00 million. The bottom line results beat street analysts by $ 0.01 or 2.63 percent, at the same time, top line results fell short of analysts by $ 65.33 million or 19.05 percent.
Shares of Ares Management Corporation traded low $ -0.44 or -1.01 percent on Tuesday, reaching $ 42.95 with volume of 416.70 thousand shares. Ares Management Corporation has traded high as $ 43.97 and has cracked $ 42.91 on the downward trend
According to the previous trading day, closing price of $ 42.95, representing a 114.80 % increase from the 52 week low of $ 20.20 and a 4.51 % decrease over the 52 week high of $ 45.44.
The company has a market capital of $ 6.15 billion and is part of the Financial Services sector and Asset Management industry.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.40 per share on August 5, 2020. The dividend were payable on September 30, 2020 to holders of record as of the close of business on September 16, 2020 and ex-dividend date on September 15, 2020.
Ares Management Corporation will be hosting a conference call at 12:00 PM eastern time on 28th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.aresmgmt.com
Ares Management Corporation operates as an alternative asset manager in the United States, Europe, and Asia. The companys 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. Its Direct Lending Group segment provides financing solutions to small-to-medium sized companies.