Q1 2019 Earnings Forecast for Ares Capital Co. (ARCC) Issued By Jefferies Financial Group
Ares Capital Co. (NASDAQ:ARCC) – Equities research analysts at Jefferies Financial Group lifted their Q1 2019 earnings per share (EPS) estimates for shares of Ares Capital in a report issued on Tuesday, February 12th. Jefferies Financial Group analyst J. Hecht now forecasts that the investment management company will post earnings per share of $0.41 for the quarter, up from their prior forecast of $0.40. Jefferies Financial Group also issued estimates for Ares Capital’s Q2 2019 earnings at $0.42 EPS, Q3 2019 earnings at $0.43 EPS, FY2019 earnings at $1.68 EPS, Q1 2020 earnings at $0.42 EPS, Q2 2020 earnings at $0.42 EPS, Q3 2020 earnings at $0.44 EPS, Q4 2020 earnings at $0.45 EPS and FY2020 earnings at $1.73 EPS.
Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, February 12th. The investment management company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.04. The company had revenue of $345.00 million during the quarter, compared to analyst estimates of $327.24 million. Ares Capital had a return on equity of 9.69% and a net margin of 64.17%. During the same quarter last year, the business posted $0.38 EPS.
Shares of ARCC stock opened at $17.16 on Thursday. The firm has a market capitalization of $7.31 billion, a P/E ratio of 10.21, a PEG ratio of 3.35 and a beta of 0.62. The company has a quick ratio of 2.41, a current ratio of 1.05 and a debt-to-equity ratio of 0.71. Ares Capital has a 1 year low of $14.50 and a 1 year high of $17.63.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Ffcm LLC grew its position in Ares Capital by 53.4% during the 4th quarter. Ffcm LLC now owns 2,201 shares of the investment management company’s stock worth $34,000 after purchasing an additional 766 shares during the period. Pekin Singer Strauss Asset Management IL grew its position in shares of Ares Capital by 1.0% during the 4th quarter. Pekin Singer Strauss Asset Management IL now owns 84,745 shares of the investment management company’s stock valued at $1,320,000 after acquiring an additional 820 shares during the period. Ausdal Financial Partners Inc. grew its position in shares of Ares Capital by 4.3% during the 4th quarter. Ausdal Financial Partners Inc. now owns 24,909 shares of the investment management company’s stock valued at $388,000 after acquiring an additional 1,036 shares during the period. Pinkerton Retirement Specialists LLC grew its position in shares of Ares Capital by 0.9% during the 4th quarter. Pinkerton Retirement Specialists LLC now owns 143,226 shares of the investment management company’s stock valued at $2,231,000 after acquiring an additional 1,283 shares during the period. Finally, Cetera Investment Advisers grew its position in shares of Ares Capital by 4.9% during the 4th quarter. Cetera Investment Advisers now owns 29,975 shares of the investment management company’s stock valued at $467,000 after acquiring an additional 1,388 shares during the period. 39.45% of the stock is currently owned by institutional investors.
In related news, CEO R. Kipp Deveer purchased 50,000 shares of the business’s stock in a transaction on Friday, December 14th. The shares were bought at an average cost of $16.02 per share, with a total value of $801,000.00. Following the transaction, the chief executive officer now owns 225,000 shares of the company’s stock, valued at $3,604,500. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Penelope F. Roll sold 6,000 shares of the stock in a transaction dated Tuesday, November 20th. The stock was sold at an average price of $16.76, for a total value of $100,560.00. Following the sale, the chief financial officer now directly owns 11,147 shares in the company, valued at $186,823.72. The disclosure for this sale can be found here. Insiders have acquired a total of 50,600 shares of company stock worth $810,730 over the last ninety days. 0.49% of the stock is owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be given a dividend of $0.40 per share. This is an increase from Ares Capital’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a yield of 9.32%. The ex-dividend date of this dividend is Thursday, March 14th. Ares Capital’s dividend payout ratio (DPR) is currently 92.86%.
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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