$299.10 Million in Sales Expected for Ares Capital Co. (ARCC) This Quarter
Wall Street analysts expect Ares Capital Co. (NASDAQ:ARCC) to report sales of $299.10 million for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Ares Capital’s earnings, with estimates ranging from $285.20 million to $307.31 million. Ares Capital posted sales of $261.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.6%. The company is scheduled to report its next earnings report on Wednesday, February 28th.
On average, analysts expect that Ares Capital will report full year sales of $299.10 million for the current fiscal year, with estimates ranging from $1.14 billion to $1.16 billion. For the next financial year, analysts anticipate that the firm will post sales of $1.27 billion per share, with estimates ranging from $1.22 billion to $1.32 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that follow Ares Capital.
Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. The business had revenue of $294.00 million for the quarter, compared to analysts’ expectations of $295.02 million. During the same period last year, the business earned $0.43 EPS.
Shares of Ares Capital (ARCC) traded up $0.05 during trading hours on Tuesday, reaching $15.84. The company’s stock had a trading volume of 1,412,600 shares, compared to its average volume of 1,804,420. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66. Ares Capital has a fifty-two week low of $15.60 and a fifty-two week high of $17.87. The company has a market cap of $6,770.00, a PE ratio of 12.57, a PEG ratio of 3.36 and a beta of 0.63.
The business also recently announced a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Friday, December 15th were issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a yield of 9.60%. The ex-dividend date of this dividend was Thursday, December 14th. Ares Capital’s payout ratio is presently 120.63%.
In related news, Director Michael J. Arougheti bought 8,365 shares of Ares Capital stock in a transaction on Friday, November 3rd. The stock was acquired at an average price of $15.85 per share, with a total value of $132,585.25. Following the acquisition, the director now directly owns 937,054 shares of the company’s stock, valued at $14,852,305.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have acquired a total of 8,965 shares of company stock valued at $142,315 in the last ninety days. Insiders own 0.45% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Confluence Investment Management LLC grew its holdings in shares of Ares Capital by 2.0% during the fourth quarter. Confluence Investment Management LLC now owns 5,144,529 shares of the investment management company’s stock worth $80,872,000 after purchasing an additional 102,683 shares in the last quarter. Atlantic Trust Group LLC lifted its position in Ares Capital by 295.3% in the 3rd quarter. Atlantic Trust Group LLC now owns 168,058 shares of the investment management company’s stock worth $2,755,000 after buying an additional 125,543 shares during the last quarter. Shelton Capital Management lifted its position in Ares Capital by 84.3% in the 3rd quarter. Shelton Capital Management now owns 171,641 shares of the investment management company’s stock worth $2,813,000 after buying an additional 78,500 shares during the last quarter. Chicago Partners Investment Group LLC lifted its position in Ares Capital by 91.5% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 221,263 shares of the investment management company’s stock worth $3,626,000 after buying an additional 105,751 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC bought a new stake in Ares Capital in the 3rd quarter worth approximately $191,000. 43.60% of the stock is owned by institutional investors.
About Ares Capital
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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