Ares Capital Co. (ARCC) to Post FY2018 Earnings of $1.52 Per Share, Oppenheimer Forecasts

Ares Capital Co. (NASDAQ:ARCC) – Equities researchers at Oppenheimer raised their FY2018 earnings per share (EPS) estimates for Ares Capital in a report issued on Tuesday. Oppenheimer analyst L. Rudary now forecasts that the investment management company will post earnings of $1.52 per share for the year, up from their prior forecast of $1.49. Oppenheimer currently has a “Buy” rating and a $18.00 target price on the stock. Oppenheimer also issued estimates for Ares Capital’s FY2019 earnings at $1.57 EPS.

A number of other brokerages have also recently commented on ARCC. TheStreet upgraded Ares Capital from a “c+” rating to a “b-” rating in a report on Tuesday, December 12th. Wedbush began coverage on Ares Capital in a report on Monday, November 27th. They set an “outperform” rating and a $18.00 target price on the stock. BidaskClub cut Ares Capital from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 5th. Zacks Investment Research cut Ares Capital from a “hold” rating to a “sell” rating in a report on Monday, November 6th. Finally, Compass Point started coverage on Ares Capital in a report on Wednesday, December 6th. They set a “buy” rating and a $17.50 price objective on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $18.00.

Shares of Ares Capital (NASDAQ ARCC) traded down $0.19 during trading hours on Thursday, reaching $15.89. The company’s stock had a trading volume of 690,999 shares, compared to its average volume of 2,085,722. The firm has a market cap of $6,800.00, a PE ratio of 10.12, a PEG ratio of 3.39 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. Ares Capital has a 52-week low of $15.03 and a 52-week high of $17.87.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Tuesday, February 13th. The investment management company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.01. The business had revenue of $307.00 million for the quarter, compared to analysts’ expectations of $301.38 million. Ares Capital had a return on equity of 8.45% and a net margin of 57.50%. The company’s revenue was up 17.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Thursday, March 15th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.57%. The ex-dividend date is Wednesday, March 14th. Ares Capital’s dividend payout ratio (DPR) is currently 96.82%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Bessemer Group Inc. raised its position in shares of Ares Capital by 14,542.3% in the 4th quarter. Bessemer Group Inc. now owns 7,614 shares of the investment management company’s stock worth $120,000 after buying an additional 7,562 shares during the period. Legacy Advisors LLC purchased a new position in shares of Ares Capital in the 3rd quarter worth $128,000. Joel Isaacson & Co. LLC purchased a new position in shares of Ares Capital in the 3rd quarter worth $164,000. Van Cleef Asset Management Inc purchased a new position in shares of Ares Capital in the 4th quarter worth $157,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Ares Capital in the 3rd quarter worth $167,000. 43.62% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: This story was first posted by American Banking News and is owned by of American Banking News. If you are viewing this story on another site, it was stolen and republished in violation of U.S. and international trademark and copyright legislation. The original version of this story can be read at https://www.americanbankingnews.com/2018/02/15/ares-capital-co-arcc-to-post-fy2018-earnings-of-1-52-per-share-oppenheimer-forecasts.html.

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.

Earnings History and Estimates 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