Brokerages predict that Ares Capital Co. (NASDAQ:ARCC) will announce $348.95 million in sales for the current quarter, Zacks Investment Research reports. Six analysts have issued estimates for Ares Capital’s earnings, with the lowest sales estimate coming in at $331.00 million and the highest estimate coming in at $380.55 million. Ares Capital reported sales of $382.00 million during the same quarter last year, which indicates a negative year over year growth rate of 8.7%. The firm is expected 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 fiscal year, with estimates ranging from $1.37 billion to $1.51 billion. For the next year, analysts expect that the business will report sales of $1.51 billion, with estimates ranging from $1.40 billion to $1.60 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that cover Ares Capital.
Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Tuesday, May 5th. The investment management company reported $0.41 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by ($0.02). Ares Capital had a negative net margin of 2.17% and a positive return on equity of 10.81%. The company had revenue of $369.00 million for the quarter, compared to the consensus estimate of $378.83 million. During the same period last year, the business earned $0.48 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis.
In related news, Director Michael K. Parks bought 2,000 shares of the stock in a transaction on Thursday, June 11th. The stock was bought at an average price of $14.71 per share, for a total transaction of $29,420.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Formidable Asset Management LLC purchased a new stake in shares of Ares Capital during the 1st quarter valued at $508,000. State of Tennessee Treasury Department increased its position in shares of Ares Capital by 416.8% in the 1st quarter. State of Tennessee Treasury Department now owns 1,251,700 shares of the investment management company’s stock valued at $13,493,000 after acquiring an additional 1,009,500 shares during the period. 1832 Asset Management L.P. increased its position in shares of Ares Capital by 5.0% in the 1st quarter. 1832 Asset Management L.P. now owns 1,900,523 shares of the investment management company’s stock valued at $20,362,000 after acquiring an additional 90,400 shares during the period. Sculati Wealth Management LLC increased its position in shares of Ares Capital by 2.5% in the 1st quarter. Sculati Wealth Management LLC now owns 79,095 shares of the investment management company’s stock valued at $853,000 after acquiring an additional 1,935 shares during the period. Finally, Townsquare Capital LLC increased its position in shares of Ares Capital by 26.1% in the 1st quarter. Townsquare Capital LLC now owns 38,029 shares of the investment management company’s stock valued at $471,000 after acquiring an additional 7,876 shares during the period. Hedge funds and other institutional investors own 33.37% of the company’s stock.
Shares of Ares Capital stock traded down $0.32 on Friday, reaching $13.95. The company’s stock had a trading volume of 3,178,981 shares, compared to its average volume of 2,750,662. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of -232.50 and a beta of 1.17. The firm’s fifty day simple moving average is $14.61 and its two-hundred day simple moving average is $15.72. Ares Capital has a 52 week low of $7.90 and a 52 week high of $19.33. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.24.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 11.47%. Ares Capital’s dividend payout ratio is 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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