Analysts Expect Ares Capital Co. (ARCC) Will Post Earnings of $0.40 Per Share
Wall Street analysts predict that Ares Capital Co. (NASDAQ:ARCC) will report earnings per share of $0.40 for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Ares Capital’s earnings, with estimates ranging from $0.39 to $0.41. Ares Capital posted earnings per share of $0.36 in the same quarter last year, which indicates a positive year over year growth rate of 11.1%. The company is scheduled to issue its next earnings report on Thursday, November 1st.
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 $1.56 to $1.60. For the next fiscal year, analysts forecast that the business will post earnings of $1.66 per share, with EPS estimates ranging from $1.56 to $1.74. Zacks’ earnings per share calculations are an average based on a survey of analysts that cover Ares Capital.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, August 1st. The investment management company reported $0.39 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.39. Ares Capital had a net margin of 69.31% and a return on equity of 8.98%. The firm had revenue of $333.00 million during the quarter, compared to analysts’ expectations of $322.06 million. During the same period last year, the business earned $0.42 earnings per share.
In related news, Director Eric B. Siegel purchased 6,990 shares of the company’s stock in a transaction on Wednesday, September 12th. The stock was acquired at an average cost of $17.30 per share, for a total transaction of $120,927.00. Following the completion of the transaction, the director now directly owns 36,630 shares in the company, valued at $633,699. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bates Ann Torre purchased 9,000 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were bought at an average price of $17.44 per share, with a total value of $156,960.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $348,800. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 16,390 shares of company stock valued at $284,795. Company insiders own 0.49% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of ARCC. Legacy Advisors LLC boosted its stake in shares of Ares Capital by 869.0% in the second quarter. Legacy Advisors LLC now owns 9,060 shares of the investment management company’s stock valued at $149,000 after purchasing an additional 8,125 shares during the period. McKinley Carter Wealth Services Inc. purchased a new position in shares of Ares Capital in the first quarter valued at approximately $159,000. Rehmann Capital Advisory Group boosted its stake in shares of Ares Capital by 43.5% in the second quarter. Rehmann Capital Advisory Group now owns 9,658 shares of the investment management company’s stock valued at $159,000 after purchasing an additional 2,930 shares during the period. Quad Cities Investment Group LLC purchased a new position in shares of Ares Capital in the first quarter valued at approximately $162,000. Finally, grace capital purchased a new position in shares of Ares Capital in the second quarter valued at approximately $165,000. 40.33% of the stock is owned by institutional investors and hedge funds.
Ares Capital stock traded up $0.02 during midday trading on Friday, hitting $17.36. 33,945 shares of the stock were exchanged, compared to its average volume of 1,530,684. Ares Capital has a fifty-two week low of $15.03 and a fifty-two week high of $17.58. The stock has a market cap of $7.41 billion, a P/E ratio of 12.52, a PEG ratio of 3.66 and a beta of 0.64. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.62.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, September 13th. This is a boost from Ares Capital’s previous quarterly dividend of $0.38. This represents a $1.56 dividend on an annualized basis and a dividend yield of 8.99%. Ares Capital’s dividend payout ratio (DPR) is currently 112.23%.
Ares Capital Company Profile
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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