Analysts forecast that Ares Capital Co. (NASDAQ:ARCC) will announce $348.95 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Ares Capital’s earnings, with estimates ranging from $331.00 million to $380.55 million. Ares Capital reported sales of $382.00 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 8.7%. The company is scheduled to report its next earnings report on Tuesday, August 4th.
On average, analysts expect that Ares Capital will report full year sales of $1.43 billion for the current financial year, with estimates ranging from $1.37 billion to $1.51 billion. For the next year, analysts expect that the business will post sales of $1.51 billion, with estimates ranging from $1.40 billion to $1.60 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Ares Capital.
Ares Capital (NASDAQ:ARCC) last issued its earnings results on Tuesday, May 5th. The investment management company reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.02). The firm had revenue of $369.00 million during the quarter, compared to analysts’ expectations of $378.83 million. Ares Capital had a positive return on equity of 10.81% and a negative net margin of 2.17%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS.
In related news, Director Michael K. Parks purchased 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were purchased at an average cost of $14.71 per share, with a total value of $29,420.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.60% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cetera Advisor Networks LLC raised its holdings in shares of Ares Capital by 1.6% in the fourth quarter. Cetera Advisor Networks LLC now owns 50,119 shares of the investment management company’s stock valued at $938,000 after buying an additional 781 shares during the last quarter. Calton & Associates Inc. increased its stake in shares of Ares Capital by 5.9% during the first quarter. Calton & Associates Inc. now owns 14,497 shares of the investment management company’s stock worth $156,000 after acquiring an additional 810 shares during the period. Arkadios Wealth Advisors increased its stake in shares of Ares Capital by 20.3% during the first quarter. Arkadios Wealth Advisors now owns 5,343 shares of the investment management company’s stock worth $58,000 after acquiring an additional 900 shares during the period. AllSquare Wealth Management LLC increased its stake in shares of Ares Capital by 3.2% during the first quarter. AllSquare Wealth Management LLC now owns 32,304 shares of the investment management company’s stock worth $348,000 after acquiring an additional 1,000 shares during the period. Finally, Cetera Advisors LLC increased its stake in shares of Ares Capital by 0.9% during the first quarter. Cetera Advisors LLC now owns 119,179 shares of the investment management company’s stock worth $1,285,000 after acquiring an additional 1,019 shares during the period. 33.37% of the stock is currently owned by institutional investors and hedge funds.
ARCC stock traded down $0.32 during midday trading on Friday, reaching $13.95. The stock had a trading volume of 3,178,981 shares, compared to its average volume of 2,750,662. The stock has a market cap of $5.90 billion, a PE ratio of -232.50 and a beta of 1.17. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a fifty day simple moving average of $14.61 and a two-hundred day simple moving average of $15.72. Ares Capital has a 52-week low of $7.90 and a 52-week high of $19.33.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 11.47%. The ex-dividend date of this dividend is Friday, June 12th. Ares Capital’s dividend payout ratio is presently 84.66%.
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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