Ares Capital (NASDAQ:ARCC) is scheduled to be posting its quarterly earnings results before the market opens on Wednesday, October 30th. Analysts expect Ares Capital to post earnings of $0.46 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.05. Ares Capital had a net margin of 53.81% and a return on equity of 10.72%. The firm had revenue of $382.00 million during the quarter, compared to the consensus estimate of $363.60 million. During the same period last year, the firm posted $0.60 EPS. The firm’s quarterly revenue was up 14.7% on a year-over-year basis. On average, analysts expect Ares Capital to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.
Shares of ARCC stock opened at $18.61 on Wednesday. Ares Capital has a 12-month low of $14.50 and a 12-month high of $19.28. The company has a market capitalization of $7.92 billion, a P/E ratio of 11.08 and a beta of 0.59. The firm has a 50-day moving average price of $18.66 and a 200 day moving average price of $18.16. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.82.
Several equities analysts recently issued reports on the stock. BidaskClub downgraded shares of Ares Capital from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th. ValuEngine cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Raymond James cut shares of Ares Capital from an “outperform” rating to a “market perform” rating in a research report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, August 26th. Finally, Compass Point cut shares of Ares Capital from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $19.57.
In related news, CFO Penelope F. Roll acquired 2,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was purchased at an average price of $18.36 per share, for a total transaction of $36,720.00. Following the transaction, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $204,658.92. The acquisition was disclosed in a filing with the SEC, which is available through this link. Also, Director Daniel G. Kelly, Jr. acquired 6,000 shares of the stock in a transaction on Thursday, August 1st. The stock was bought at an average price of $18.44 per share, with a total value of $110,640.00. The disclosure for this purchase can be found here. Insiders acquired a total of 13,425 shares of company stock valued at $247,289 in the last 90 days. Corporate insiders own 0.53% 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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