Ares Capital (ARCC) Set to Announce Quarterly Earnings on Tuesday

Ares Capital (NASDAQ:ARCCGet Rating) will be announcing its earnings results before the market opens on Tuesday, April 26th. Analysts expect the company to announce earnings of $0.47 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.

Ares Capital (NASDAQ:ARCCGet Rating) last announced its earnings results on Wednesday, February 9th. The investment management company reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $529.00 million for the quarter, compared to analysts’ expectations of $485.32 million. Ares Capital had a return on equity of 10.56% and a net margin of 86.10%. During the same quarter in the prior year, the firm earned $0.54 EPS. On average, analysts expect Ares Capital to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Shares of NASDAQ:ARCC opened at $22.01 on Tuesday. The business’s fifty day moving average price is $21.19 and its two-hundred day moving average price is $21.07. The stock has a market cap of $10.76 billion, a PE ratio of 6.25 and a beta of 1.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.84 and a current ratio of 0.84. Ares Capital has a one year low of $18.23 and a one year high of $23.00.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 7.63%. The ex-dividend date of this dividend was Monday, March 14th. This is a boost from Ares Capital’s previous quarterly dividend of $0.41. Ares Capital’s dividend payout ratio is 47.73%.

A number of brokerages have commented on ARCC. StockNews.com began coverage on Ares Capital in a report on Thursday, March 31st. They set a “hold” rating on the stock. Hovde Group assumed coverage on Ares Capital in a research note on Monday, March 7th. They set a “market perform” rating and a $22.50 price target on the stock. Finally, Raymond James increased their price target on Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, February 10th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $22.41.

In other news, Director Mary Beth Henson bought 6,000 shares of Ares Capital stock in a transaction that occurred on Monday, March 14th. The shares were purchased at an average price of $20.05 per share, for a total transaction of $120,300.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by company insiders.

A number of institutional investors have recently modified their holdings of ARCC. Norges Bank acquired a new position in shares of Ares Capital during the fourth quarter worth about $4,844,000. Vident Investment Advisory LLC acquired a new position in shares of Ares Capital during the fourth quarter worth about $834,000. NewEdge Advisors LLC lifted its stake in shares of Ares Capital by 77.1% during the fourth quarter. NewEdge Advisors LLC now owns 26,262 shares of the investment management company’s stock worth $557,000 after purchasing an additional 11,429 shares in the last quarter. Toroso Investments LLC lifted its stake in shares of Ares Capital by 31.3% during the fourth quarter. Toroso Investments LLC now owns 34,616 shares of the investment management company’s stock worth $734,000 after purchasing an additional 8,250 shares in the last quarter. Finally, Zullo Investment Group Inc. acquired a new position in shares of Ares Capital during the fourth quarter worth about $27,000. Hedge funds and other institutional investors own 30.55% of the company’s stock.

Ares Capital Company Profile (Get Rating)

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.

Further Reading

Earnings History for Ares Capital (NASDAQ:ARCC)

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