Equities research analysts expect Ares Capital Co. (NASDAQ:ARCC) to post sales of $348.95 million 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 indicates a negative year over year growth rate of 8.7%. The business is expected to announce its next 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 year, analysts forecast that the business 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 sell-side 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 the consensus estimate of $0.43 by ($0.02). The company had revenue of $369.00 million for the quarter, compared to analyst estimates of $378.83 million. Ares Capital had a positive return on equity of 10.81% and a negative net margin of 2.17%. Ares Capital’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.48 earnings per share.
ARCC traded down $0.32 during midday trading on Friday, hitting $13.95. 3,178,981 shares of the company were exchanged, compared to its average volume of 2,750,662. The company’s 50 day simple moving average is $14.61 and its 200 day simple moving average is $15.72. The firm has a market capitalization of $5.90 billion, a price-to-earnings ratio of -232.50 and a beta of 1.17. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.24. Ares Capital has a 1-year low of $7.90 and a 1-year high of $19.33.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 11.47%. The ex-dividend date is Friday, June 12th. Ares Capital’s payout ratio is 84.66%.
In other Ares Capital news, Director Michael K. Parks bought 2,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired 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 through this link. Insiders own 0.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Formidable Asset Management LLC purchased a new position in Ares Capital in the 1st quarter worth approximately $508,000. State of Tennessee Treasury Department lifted its stake in 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 worth $13,493,000 after purchasing an additional 1,009,500 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in 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 worth $20,362,000 after purchasing an additional 90,400 shares in the last quarter. Sculati Wealth Management LLC raised its position in shares of Ares Capital by 2.5% during the 1st quarter. Sculati Wealth Management LLC now owns 79,095 shares of the investment management company’s stock valued at $853,000 after buying an additional 1,935 shares during the period. Finally, Townsquare Capital LLC raised its position in shares of Ares Capital by 26.1% during the 1st quarter. Townsquare Capital LLC now owns 38,029 shares of the investment management company’s stock valued at $471,000 after buying an additional 7,876 shares during the period. 33.37% of the stock is currently owned by institutional investors and hedge funds.
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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