Ares Capital (ARCC) Announces Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Ares Capital (NASDAQ:ARCC) announced its quarterly earnings data on Tuesday. The investment management company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.01, Bloomberg Earnings reports. The firm had revenue of $307.00 million during the quarter, compared to the consensus estimate of $301.38 million. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. The business’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS.

Shares of Ares Capital (NASDAQ:ARCC) opened at $15.91 on Wednesday. Ares Capital has a fifty-two week low of $15.03 and a fifty-two week high of $17.87. The firm has a market capitalization of $6,780.00, a P/E ratio of 12.63, a PEG ratio of 3.29 and a beta of 0.62. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.66.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Thursday, March 15th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 9.55%. Ares Capital’s payout ratio is presently 120.63%.

Several equities research analysts recently issued reports on ARCC shares. Zacks Investment Research downgraded Ares Capital from a “hold” rating to a “sell” rating in a research note on Wednesday, February 7th. BidaskClub raised Ares Capital from a “strong sell” rating to a “sell” rating in a report on Monday, February 5th. TheStreet lowered Ares Capital from a “b” rating to a “c+” rating in a report on Monday, November 13th. Jefferies Group reaffirmed a “buy” rating and issued a $19.50 target price on shares of Ares Capital in a report on Friday, November 3rd. Finally, Compass Point assumed coverage on Ares Capital in a report on Wednesday, December 6th. They issued a “buy” rating and a $17.50 target price on the stock. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $18.00.

Several large investors have recently made changes to their positions in ARCC. Bessemer Group Inc. grew its holdings in shares of Ares Capital by 14,542.3% during the 4th quarter. Bessemer Group Inc. now owns 7,614 shares of the investment management company’s stock worth $120,000 after purchasing an additional 7,562 shares in the last quarter. Legacy Advisors LLC acquired a new stake in shares of Ares Capital during the 3rd quarter worth approximately $128,000. Van Cleef Asset Management Inc acquired a new stake in shares of Ares Capital during the 4th quarter worth approximately $157,000. Harvest Capital Management Inc acquired a new stake in shares of Ares Capital during the 4th quarter worth approximately $162,000. Finally, Joel Isaacson & Co. LLC acquired a new stake in shares of Ares Capital during the 3rd quarter worth approximately $164,000. 43.62% of the stock is currently owned by institutional investors.

WARNING: This article was originally posted by American Banking News and is the sole property of of American Banking News. If you are accessing this article on another publication, it was copied illegally and reposted in violation of US and international copyright & trademark laws. The correct version of this article can be viewed at https://www.americanbankingnews.com/2018/02/13/ares-capital-arcc-announces-quarterly-earnings-results.html.

Ares Capital Company Profile

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.

Earnings History for Ares Capital (NASDAQ:ARCC)

Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply