Wall Street brokerages expect Ares Capital Co. (NASDAQ:ARCC) to report $0.44 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Ares Capital’s earnings. The lowest EPS estimate is $0.41 and the highest is $0.45. Ares Capital posted earnings of $0.39 per share in the same quarter last year, which would indicate a positive year over year growth rate of 12.8%. The business is scheduled to announce its next quarterly earnings results on Wednesday, August 7th.
According to Zacks, analysts expect that Ares Capital will report full-year earnings of $1.79 per share for the current year, with EPS estimates ranging from $1.71 to $1.83. For the next year, analysts anticipate that the business will report earnings of $1.79 per share, with EPS estimates ranging from $1.72 to $1.88. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Ares Capital.
Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, April 30th. The investment management company reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.06. Ares Capital had a net margin of 59.58% and a return on equity of 10.12%. The firm had revenue of $373.00 million for the quarter, compared to analyst estimates of $337.96 million. During the same quarter in the prior year, the business posted $0.57 EPS.
Shares of NASDAQ:ARCC traded down $0.05 on Monday, reaching $17.88. 1,253,423 shares of the company’s stock were exchanged, compared to its average volume of 1,537,767. Ares Capital has a twelve month low of $14.50 and a twelve month high of $18.07. The firm has a market cap of $7.62 billion, a PE ratio of 10.64 and a beta of 0.65. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.84.
The firm also recently announced a special dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be given a dividend of $0.02 per share. The ex-dividend date is Friday, September 13th. This represents a dividend yield of 9.04%. Ares Capital’s payout ratio is presently 95.24%.
In other news, Director Bates Ann Torre purchased 9,725 shares of Ares Capital stock in a transaction that occurred on Wednesday, May 15th. The shares were acquired at an average price of $17.61 per share, for a total transaction of $171,257.25. Following the transaction, the director now owns 24,000 shares of the company’s stock, valued at approximately $422,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven B. Mckeever purchased 5,640 shares of Ares Capital stock in a transaction that occurred on Monday, May 13th. The shares were purchased at an average price of $17.52 per share, for a total transaction of $98,812.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,965 shares of company stock worth $280,478 in the last quarter. 0.53% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Financial Advantage Inc. boosted its position in shares of Ares Capital by 0.8% during the 1st quarter. Financial Advantage Inc. now owns 285,221 shares of the investment management company’s stock worth $4,888,000 after acquiring an additional 2,178 shares in the last quarter. Ipswich Investment Management Co. Inc. boosted its position in shares of Ares Capital by 256.9% during the 1st quarter. Ipswich Investment Management Co. Inc. now owns 73,199 shares of the investment management company’s stock worth $1,255,000 after acquiring an additional 52,689 shares in the last quarter. LGT Capital Partners LTD. boosted its position in shares of Ares Capital by 7.0% during the 1st quarter. LGT Capital Partners LTD. now owns 1,830,000 shares of the investment management company’s stock worth $31,366,000 after acquiring an additional 120,000 shares in the last quarter. Baltimore Washington Financial Advisors Inc. boosted its position in shares of Ares Capital by 2.2% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 576,381 shares of the investment management company’s stock worth $8,980,000 after acquiring an additional 12,413 shares in the last quarter. Finally, Global Strategic Management Inc. acquired a new stake in shares of Ares Capital during the 4th quarter worth approximately $3,392,000. Institutional investors and hedge funds own 37.67% of the company’s stock.
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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