Brokerages expect Ares Capital Co. (NASDAQ:ARCC) to report $437.99 million in sales for the current quarter, Zacks reports. Five analysts have provided estimates for Ares Capital's earnings. The lowest sales estimate is $423.44 million and the highest is $465.00 million. Ares Capital reported sales of $352.00 million during the same quarter last year, which would suggest a positive year over year growth rate of 24.4%. The business is expected to report its next earnings report on Tuesday, October 26th.
On average, analysts expect that Ares Capital will report full year sales of $1.73 billion for the current fiscal year, with estimates ranging from $1.70 billion to $1.78 billion. For the next year, analysts forecast that the firm will post sales of $1.81 billion, with estimates ranging from $1.70 billion to $1.87 billion. Zacks Investment Research's sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Ares Capital.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Tuesday, July 27th. The investment management company reported $0.53 EPS for the quarter, topping the Zacks' consensus estimate of $0.43 by $0.10. The firm had revenue of $459.00 million during the quarter, compared to analyst estimates of $385.97 million. Ares Capital had a return on equity of 10.87% and a net margin of 101.77%.
A number of research analysts recently weighed in on the company. Royal Bank of Canada raised their price objective on Ares Capital from $21.00 to $22.00 and gave the company an "outperform" rating in a research note on Friday, July 30th. Raymond James raised their price objective on Ares Capital from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, August 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $20.00.
Shares of Ares Capital stock opened at $20.01 on Friday. The stock has a 50-day simple moving average of $20.05 and a 200-day simple moving average of $19.50. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.33 and a quick ratio of 1.33. Ares Capital has a 52-week low of $13.15 and a 52-week high of $20.46. The firm has a market cap of $8.92 billion, a price-to-earnings ratio of 5.14 and a beta of 1.19.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 30th. Shareholders of record on Wednesday, September 15th will be given a $0.41 dividend. This is an increase from Ares Capital's previous quarterly dividend of $0.40. This represents a $1.64 annualized dividend and a yield of 8.20%. The ex-dividend date of this dividend is Tuesday, September 14th. Ares Capital's payout ratio is currently 94.25%.
A number of hedge funds and other institutional investors have recently modified their holdings of ARCC. Meeder Asset Management Inc. bought a new stake in shares of Ares Capital during the second quarter valued at approximately $26,000. Mark Sheptoff Financial Planning LLC bought a new stake in shares of Ares Capital during the second quarter valued at approximately $33,000. First Horizon Advisors Inc. increased its position in shares of Ares Capital by 463.5% during the first quarter. First Horizon Advisors Inc. now owns 3,443 shares of the investment management company's stock valued at $64,000 after purchasing an additional 2,832 shares during the period. Wealthstar Advisors LLC bought a new stake in shares of Ares Capital during the second quarter valued at approximately $66,000. Finally, Windsor Capital Management LLC bought a new stake in shares of Ares Capital during the first quarter valued at approximately $77,000. 29.42% of the stock is currently owned by institutional investors.
Ares Capital Company Profile
Ares Capital Corp is a closed-end non-diversified management investment company. The fund targets companies operating in the fields of Health Care Services, Software & Services, Consumer Durables & Apparel, Energy, Food & Beverage, and Retail. It provides financing for buyouts, acquisitions, recapitalizations, restructurings, rescue financing, growth capital and general refinancing.
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