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 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.
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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.
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