Equities research analysts predict that Ares Capital Co. (NASDAQ:ARCC) will report earnings of $0.36 per share for the current fiscal quarter, according to Zacks Investment Research. Six analysts have provided estimates for Ares Capital’s earnings, with estimates ranging from $0.33 to $0.39. Ares Capital reported earnings of $0.37 per share during the same quarter last year, which would indicate a negative year over year growth rate of 2.7%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Wednesday, May 3rd.
According to Zacks, analysts expect that Ares Capital will report full year earnings of $1.58 per share for the current fiscal year, with EPS estimates ranging from $1.51 to $1.64. For the next financial year, analysts forecast that the company will report earnings of $1.71 per share, with EPS estimates ranging from $1.64 to $1.81. Zacks’ earnings per share calculations are an average based on a survey of research analysts that cover Ares Capital.
Ares Capital (NASDAQ:ARCC) last issued its earnings results on Wednesday, February 22nd. The investment management company reported $0.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.03. The company had revenue of $261 million for the quarter, compared to analyst estimates of $247.12 million. Ares Capital had a net margin of 40.83% and a return on equity of 9.57%. During the same quarter last year, the firm earned $0.40 EPS.
A number of equities analysts have issued reports on the company. Barclays PLC set a $18.00 price target on Ares Capital and gave the stock a “buy” rating in a report on Sunday, January 8th. Jefferies Group LLC restated a “buy” rating and set a $19.50 price target on shares of Ares Capital in a report on Friday, April 7th. Zacks Investment Research upgraded Ares Capital from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Friday, February 3rd. National Securities restated a “neutral” rating and set a $16.00 price target on shares of Ares Capital in a report on Monday, January 9th. Finally, Citigroup Inc increased their price target on Ares Capital from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Five investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Ares Capital currently has a consensus rating of “Buy” and an average price target of $17.72.
Shares of Ares Capital (NASDAQ:ARCC) traded down 0.17% on Tuesday, hitting $17.40. 1,480,962 shares of the stock traded hands. The stock has a 50 day moving average of $17.46 and a 200-day moving average of $16.60. The stock has a market cap of $7.41 billion, a PE ratio of 11.52 and a beta of 0.69. Ares Capital has a 1-year low of $13.85 and a 1-year high of $17.87.
The company also recently announced a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Wednesday, March 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 8.74%. The ex-dividend date of this dividend was Monday, March 13th. Ares Capital’s dividend payout ratio is currently 115.15%.
Several institutional investors have recently modified their holdings of ARCC. Round Table Services LLC boosted its position in shares of Ares Capital by 0.4% in the first quarter. Round Table Services LLC now owns 10,186 shares of the investment management company’s stock worth $177,000 after buying an additional 36 shares in the last quarter. Horizon Investments LLC boosted its position in shares of Ares Capital by 0.8% in the fourth quarter. Horizon Investments LLC now owns 12,114 shares of the investment management company’s stock worth $200,000 after buying an additional 99 shares in the last quarter. Hudock Capital Group LLC boosted its position in shares of Ares Capital by 1.0% in the third quarter. Hudock Capital Group LLC now owns 9,741 shares of the investment management company’s stock worth $150,000 after buying an additional 100 shares in the last quarter. RFG Advisory Group LLC boosted its position in shares of Ares Capital by 0.6% in the fourth quarter. RFG Advisory Group LLC now owns 24,254 shares of the investment management company’s stock worth $377,000 after buying an additional 144 shares in the last quarter. Finally, 1st Global Advisors Inc. boosted its position in shares of Ares Capital by 0.8% in the third quarter. 1st Global Advisors Inc. now owns 19,056 shares of the investment management company’s stock worth $295,000 after buying an additional 148 shares in the last quarter. Institutional investors own 39.07% of the company’s stock.
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Ares Capital Company Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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