Wall Street analysts expect Ares Capital Co. (NASDAQ:ARCC – Get Rating) to report earnings of $0.47 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Ares Capital’s earnings. The highest EPS estimate is $0.49 and the lowest is $0.43. Ares Capital posted earnings of $0.43 per share in the same quarter last year, which would suggest a positive year over year growth rate of 9.3%. The firm is expected to announce its next quarterly earnings report before the market opens on Monday, January 1st.
On average, analysts expect that Ares Capital will report full-year earnings of $1.89 per share for the current year, with EPS estimates ranging from $1.80 to $1.99. For the next fiscal year, analysts forecast that the company will report earnings of $1.95 per share, with EPS estimates ranging from $1.89 to $2.09. Zacks’ EPS calculations are an average based on a survey of analysts that that provide coverage for Ares Capital.
Ares Capital (NASDAQ:ARCC – Get Rating) last announced its quarterly earnings data on Wednesday, February 9th. The investment management company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. Ares Capital had a net margin of 86.10% and a return on equity of 10.56%. The business had revenue of $529.00 million during the quarter, compared to the consensus estimate of $485.32 million. During the same period in the previous year, the business earned $0.54 earnings per share.
Shares of ARCC opened at $21.81 on Friday. Ares Capital has a one year low of $18.23 and a one year high of $23.00. The company has a market cap of $10.66 billion, a P/E ratio of 6.20 and a beta of 1.05. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $21.21 and a two-hundred day simple moving average of $21.11.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Monday, March 14th. This represents a $1.68 annualized dividend and a dividend yield of 7.70%. This is a positive change from Ares Capital’s previous quarterly dividend of $0.41. Ares Capital’s dividend payout ratio is currently 47.73%.
In related news, Director Mary Beth Henson acquired 6,000 shares of the company’s stock in a transaction dated Monday, March 14th. The shares were purchased at an average price of $20.05 per share, for a total transaction of $120,300.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.58% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sierra Capital LLC lifted its position in shares of Ares Capital by 0.3% during the 4th quarter. Sierra Capital LLC now owns 159,812 shares of the investment management company’s stock worth $3,386,000 after buying an additional 493 shares in the last quarter. Cypress Capital Management LLC WY lifted its holdings in Ares Capital by 3.8% during the third quarter. Cypress Capital Management LLC WY now owns 13,500 shares of the investment management company’s stock worth $274,000 after acquiring an additional 500 shares during the period. Private Wealth Strategies L.L.C. boosted its position in Ares Capital by 1.9% in the fourth quarter. Private Wealth Strategies L.L.C. now owns 26,537 shares of the investment management company’s stock worth $563,000 after purchasing an additional 504 shares during the last quarter. Indie Asset Partners LLC grew its stake in Ares Capital by 4.1% in the 4th quarter. Indie Asset Partners LLC now owns 12,895 shares of the investment management company’s stock valued at $273,000 after purchasing an additional 510 shares during the period. Finally, Keybank National Association OH increased its position in shares of Ares Capital by 1.8% during the 3rd quarter. Keybank National Association OH now owns 28,379 shares of the investment management company’s stock valued at $577,000 after purchasing an additional 513 shares during the last quarter. 30.55% of the stock is currently owned by institutional investors.
About Ares Capital (Get Rating)
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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