Analysts expect Ares Capital Co. (NASDAQ:ARCC – Get Rating) to post earnings of $0.47 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Ares Capital’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.43. Ares Capital posted earnings of $0.43 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.3%. The company is expected to announce its next earnings report before the market opens on Monday, January 1st.
On average, analysts expect that Ares Capital will report full year earnings of $1.89 per share for the current fiscal year, with EPS estimates ranging from $1.80 to $1.99. For the next year, analysts forecast that the business will post earnings of $1.95 per share, with EPS estimates ranging from $1.89 to $2.09. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Ares Capital.
Ares Capital (NASDAQ:ARCC – Get Rating) last announced its quarterly earnings results on Wednesday, February 9th. The investment management company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.02. The business had revenue of $529.00 million during the quarter, compared to the consensus estimate of $485.32 million. Ares Capital had a net margin of 86.10% and a return on equity of 10.56%. During the same quarter last year, the firm earned $0.54 EPS.
In other Ares Capital news, Director Mary Beth Henson purchased 6,000 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was bought at an average price of $20.05 per share, with a total value of $120,300.00. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.58% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Dfpg Investments LLC lifted its position in shares of Ares Capital by 4.5% during the 1st quarter. Dfpg Investments LLC now owns 18,773 shares of the investment management company’s stock worth $413,000 after purchasing an additional 806 shares during the last quarter. Purus Wealth Management LLC purchased a new stake in shares of Ares Capital during the 1st quarter worth $434,000. Naviter Wealth LLC lifted its position in shares of Ares Capital by 7.6% during the 1st quarter. Naviter Wealth LLC now owns 703,039 shares of the investment management company’s stock worth $14,731,000 after purchasing an additional 49,898 shares during the last quarter. Sfmg LLC lifted its position in Ares Capital by 5.6% in the first quarter. Sfmg LLC now owns 299,468 shares of the investment management company’s stock valued at $6,274,000 after acquiring an additional 15,784 shares during the last quarter. Finally, GFS Advisors LLC purchased a new stake in Ares Capital in the first quarter valued at $570,000. 30.55% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ ARCC opened at $21.81 on Friday. The company has a 50 day simple moving average of $21.21 and a 200-day simple moving average of $21.11. The company has a market capitalization of $10.66 billion, a P/E ratio of 6.20 and a beta of 1.05. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.84 and a quick ratio of 0.84. Ares Capital has a 1 year low of $18.23 and a 1 year high of $23.00.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 7.70%. The ex-dividend date was Monday, March 14th. This is a boost from Ares Capital’s previous quarterly dividend of $0.41. Ares Capital’s dividend payout ratio (DPR) is currently 47.73%.
About Ares Capital (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.
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