* Ares Management Corp reported quarterly adjusted earnings of 95 cents per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of 83 cents. The mean expectation of fifteen analysts for the quarter was for earnings of 94 cents per share. Wall Street expected results to range from 90 cents to $1.00 per share.
* Revenue rose 68.3% to $1.13 billion from a year ago; analysts expected $802.11 million.
* Ares Management Corp's reported EPS for the quarter was 55 cents.
* Ares Management Corp shares had risen by 7.6% this quarter and gained 41.0% so far this year.
FORECAST CHANGES
* The mean earnings estimate of analysts had fallen by about 5% in the last three months.
* In the last 30 days, seven analysts negatively revised earnings estimates
RECOMMENDATIONS
* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 8 "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 166.00 This summary was machine generated from LSEG data November 1 at 02:33 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) QUARTER ENDING ESTIMATE ACTUAL BEAT, MET,
MISSED
Sep. 30 2024 0.94 0.95 Beat
Jun. 30 2024 0.98 0.99 Beat
Mar. 31 2024 0.92 0.80 Missed
Dec. 31 2023 1.10 1.21 Beat
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