Q2 2022 EPS Estimates for Ares Capital Co. Reduced by Analyst (NASDAQ:ARCC)

Ares Capital Co. (NASDAQ:ARCCGet Rating) – Investment analysts at Jefferies Financial Group dropped their Q2 2022 earnings per share estimates for shares of Ares Capital in a research report issued to clients and investors on Tuesday, April 26th. Jefferies Financial Group analyst J. Hecht now anticipates that the investment management company will post earnings per share of $0.42 for the quarter, down from their previous forecast of $0.49. Jefferies Financial Group also issued estimates for Ares Capital’s Q3 2022 earnings at $0.42 EPS, Q4 2022 earnings at $0.43 EPS, Q1 2023 earnings at $0.44 EPS, Q2 2023 earnings at $0.44 EPS, Q3 2023 earnings at $0.44 EPS, Q4 2023 earnings at $0.45 EPS and FY2023 earnings at $1.77 EPS.

Ares Capital (NASDAQ:ARCCGet Rating) last announced its quarterly earnings data on Tuesday, April 26th. The investment management company reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.05). Ares Capital had a net margin of 86.10% and a return on equity of 10.56%. The company had revenue of $440.00 million for the quarter, compared to the consensus estimate of $486.12 million. During the same quarter in the previous year, the business earned $0.43 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year.

Several other equities research analysts have also commented on the stock. JPMorgan Chase & Co. upgraded shares of Ares Capital from a “neutral” rating to an “overweight” rating and set a $22.00 price target for the company in a report on Wednesday. StockNews.com downgraded shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday. Hovde Group raised shares of Ares Capital from a “market perform” rating to an “outperform” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Ares Capital from $22.50 to $23.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Raymond James lifted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $22.39.

NASDAQ:ARCC opened at $20.80 on Thursday. Ares Capital has a one year low of $18.23 and a one year high of $23.00. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.84 and a current ratio of 0.84. The firm has a market cap of $10.17 billion, a P/E ratio of 5.91 and a beta of 1.05. The firm has a 50-day simple moving average of $21.16 and a 200-day simple moving average of $21.10.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 8.08%. This is a boost from Ares Capital’s previous quarterly dividend of $0.41. The ex-dividend date was Monday, March 14th. Ares Capital’s payout ratio is presently 47.73%.

In other Ares Capital news, Director Mary Beth Henson acquired 6,000 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was acquired at an average cost of $20.05 per share, for a total transaction of $120,300.00. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.58% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Zullo Investment Group Inc. acquired a new position in shares of Ares Capital in the 4th quarter valued at $27,000. Atticus Wealth Management LLC lifted its stake in shares of Ares Capital by 88.1% in the 4th quarter. Atticus Wealth Management LLC now owns 1,482 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 694 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of Ares Capital by 70.7% in the 1st quarter. Financial Management Professionals Inc. now owns 1,775 shares of the investment management company’s stock valued at $37,000 after purchasing an additional 735 shares during the period. Sonora Investment Management LLC acquired a new position in shares of Ares Capital in the 3rd quarter valued at $41,000. Finally, Steph & Co. acquired a new position in shares of Ares Capital in the 4th quarter valued at $42,000. 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 and Estimates for Ares Capital (NASDAQ:ARCC)

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