Ares Capital (ARCC) to Release Earnings on Wednesday

Ares Capital (NASDAQ:ARCC) is set to release its earnings data before the market opens on Wednesday, October 30th. Analysts expect Ares Capital to post earnings of $0.59 per share for the quarter. Persons 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 data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same period in the prior year, the company earned $0.58 earnings per share. On average, analysts expect Ares Capital to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ares Capital Stock Down 0.6 %

Shares of ARCC stock opened at $21.59 on Wednesday. The stock’s 50-day simple moving average is $20.88 and its 200-day simple moving average is $20.89. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.40 and a current ratio of 1.40. The firm has a market capitalization of $13.27 billion, a PE ratio of 7.39 and a beta of 1.01. Ares Capital has a fifty-two week low of $18.55 and a fifty-two week high of $21.84.

Ares Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.89%. Ares Capital’s payout ratio is 65.75%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Compass Point upgraded Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. UBS Group upgraded Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 target price on shares of Ares Capital in a research note on Monday, August 5th. Finally, JMP Securities upped their target price on Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.71.

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.