Ares Management Corp reports results for the quarter ended March 31 - Earnings Summary

• Ares Management Corp ARES.N reported quarterly adjusted earnings of $1.09​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of 80 cents. The mean expectation of fifteen analysts for the quarter was for earnings of 95 cents per share. Wall Street expected results to range from 90 cents to $1.01 per share.

• Revenue rose 53.9% to $1.09 billion from a year ago; analysts expected $906.78 million.

• Ares Management Corp's reported EPS for the quarter was breakeven results​.

• The company reported quarterly net income of $21.86 million.

• Ares Management Corp shares had risen by 7.1% this quarter and lost 11.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 10.4% 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 13 "strong buy" or "buy," 4 "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 $159.00

This summary was machine generated from LSEG data May 5 at 01:31 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)