Equities research analysts expect Ares Capital Co. (NASDAQ:ARCC) to announce earnings of $0.42 per share for the current quarter, according to Zacks. Seven analysts have provided estimates for Ares Capital’s earnings. The lowest EPS estimate is $0.40 and the highest is $0.43. Ares Capital reported earnings of $0.39 per share during the same quarter last year, which indicates a positive year-over-year growth rate of 7.7%. The business is expected to issue its next quarterly earnings results on Wednesday, May 1st.
On average, analysts expect that Ares Capital will report full-year earnings of $1.71 per share for the current year, with EPS estimates ranging from $1.67 to $1.76. For the next year, analysts expect that the company will post earnings of $1.75 per share, with EPS estimates ranging from $1.68 to $1.85. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Ares Capital.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, February 12th. The investment management company reported $0.45 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.04. Ares Capital had a return on equity of 9.69% and a net margin of 64.17%. The firm had revenue of $345.00 million for the quarter, compared to analyst estimates of $327.24 million. During the same period in the prior year, the firm posted $0.38 EPS.
Several institutional investors have recently added to or reduced their stakes in ARCC. Thornburg Investment Management Inc. lifted its holdings in Ares Capital by 4.1% during the fourth quarter. Thornburg Investment Management Inc. now owns 15,884,489 shares of the investment management company’s stock worth $247,480,000 after acquiring an additional 632,655 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in Ares Capital by 7.9% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 6,437,206 shares of the investment management company’s stock valued at $100,292,000 after purchasing an additional 472,555 shares during the last quarter. Confluence Investment Management LLC lifted its holdings in shares of Ares Capital by 0.7% during the 4th quarter. Confluence Investment Management LLC now owns 5,192,058 shares of the investment management company’s stock valued at $80,892,000 after buying an additional 37,132 shares during the period. D. E. Shaw & Co. Inc. lifted its holdings in shares of Ares Capital by 1.3% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 3,766,419 shares of the investment management company’s stock valued at $58,681,000 after buying an additional 49,731 shares during the period. Finally, OMERS ADMINISTRATION Corp lifted its holdings in shares of Ares Capital by 10.1% during the 4th quarter. OMERS ADMINISTRATION Corp now owns 3,091,499 shares of the investment management company’s stock valued at $48,166,000 after buying an additional 283,401 shares during the period. 39.22% of the stock is owned by institutional investors and hedge funds.
NASDAQ ARCC traded down $0.06 on Tuesday, reaching $17.00. The stock had a trading volume of 1,893,179 shares, compared to its average volume of 2,129,235. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.05 and a quick ratio of 1.05. Ares Capital has a 1-year low of $14.50 and a 1-year high of $17.63. The firm has a market cap of $7.25 billion, a price-to-earnings ratio of 10.12, a P/E/G ratio of 3.31 and a beta of 0.64.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.41%. This is a boost from Ares Capital’s previous quarterly dividend of $0.39. The ex-dividend date is Thursday, March 14th. Ares Capital’s payout ratio is currently 95.24%.
About Ares Capital
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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