Brokerages expect that Ares Capital Co. (NASDAQ:ARCC) will post sales of $348.95 million for the current quarter, Zacks reports. Six analysts have made 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 business is expected to report its next quarterly earnings results on Tuesday, August 4th.
On average, analysts expect that Ares Capital will report full-year sales of $1.43 billion for the current year, with estimates ranging from $1.37 billion to $1.51 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.51 billion, with estimates ranging from $1.40 billion to $1.60 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for Ares Capital.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, May 5th. The investment management company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The firm had revenue of $369.00 million during the quarter, compared to analyst estimates of $378.83 million. Ares Capital had a negative net margin of 2.17% and a positive return on equity of 10.81%. The business’s revenue was down 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.48 earnings per share.
In other Ares Capital news, Director Michael K. Parks purchased 2,000 shares of the business’s stock in a transaction on Thursday, June 11th. The stock was acquired at an average price of $14.71 per share, with a total value of $29,420.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.60% of the company’s stock.
A number of institutional investors have recently made changes to their positions in ARCC. Oppenheimer & Co. Inc. lifted its holdings in Ares Capital by 9.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 60,713 shares of the investment management company’s stock valued at $1,132,000 after purchasing an additional 5,336 shares during the last quarter. Resources Investment Advisors LLC. lifted its holdings in shares of Ares Capital by 80.9% during the fourth quarter. Resources Investment Advisors LLC. now owns 18,518 shares of the investment management company’s stock worth $345,000 after buying an additional 8,283 shares in the last quarter. Cetera Advisor Networks LLC lifted its holdings in shares of Ares Capital by 1.6% during the fourth quarter. Cetera Advisor Networks LLC now owns 50,119 shares of the investment management company’s stock worth $938,000 after buying an additional 781 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Ares Capital by 3.0% during the fourth quarter. Cetera Advisors LLC now owns 118,160 shares of the investment management company’s stock worth $2,202,000 after buying an additional 3,408 shares in the last quarter. Finally, Private Advisor Group LLC lifted its holdings in shares of Ares Capital by 44.0% during the fourth quarter. Private Advisor Group LLC now owns 274,277 shares of the investment management company’s stock worth $5,115,000 after buying an additional 83,865 shares in the last quarter. 33.37% of the stock is owned by institutional investors and hedge funds.
Shares of ARCC traded down $0.32 during mid-day trading on Friday, hitting $13.95. 3,178,981 shares of the company’s stock were exchanged, compared to its average volume of 2,750,662. The company has a market cap of $5.90 billion, a PE ratio of -232.50 and a beta of 1.17. Ares Capital has a 52 week low of $7.90 and a 52 week high of $19.33. The company has a 50-day simple moving average of $14.61 and a 200 day simple moving average of $15.72. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.35 and a quick ratio of 1.35.
The company also recently announced 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. The ex-dividend date of this dividend is Friday, June 12th. This represents a $1.60 annualized dividend and a dividend yield of 11.47%. Ares Capital’s dividend payout ratio is presently 84.66%.
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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