Analysts forecast that Ares Capital Co. (NASDAQ:ARCC) will report $323.42 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Ares Capital’s earnings. The highest sales estimate is $331.56 million and the lowest is $315.01 million. Ares Capital reported sales of $284.00 million during the same quarter last year, which indicates a positive year over year growth rate of 13.9%. The company is expected to issue its next quarterly earnings results on Wednesday, August 1st.

According to Zacks, analysts expect that Ares Capital will report full-year sales of $1.31 billion for the current fiscal year, with estimates ranging from $1.27 billion to $1.34 billion. For the next year, analysts expect that the business will report sales of $1.37 billion per share, with estimates ranging from $1.27 billion to $1.45 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Ares Capital.

Ares Capital (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, May 2nd. The investment management company reported $0.39 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $317.00 million during the quarter, compared to analysts’ expectations of $309.81 million. Ares Capital had a return on equity of 8.80% and a net margin of 65.81%. The firm’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm posted $0.28 EPS.

ARCC has been the subject of several research reports. BidaskClub cut Ares Capital from a “sell” rating to a “strong sell” rating in a report on Wednesday, February 28th. National Securities reissued a “buy” rating and set a $19.00 price target on shares of Ares Capital in a report on Monday, March 26th. Zacks Investment Research raised Ares Capital from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a report on Tuesday, April 24th. JPMorgan Chase & Co. lifted their price target on Ares Capital from $16.50 to $17.00 and gave the stock an “overweight” rating in a report on Wednesday, April 11th. Finally, Oppenheimer set a $18.00 price target on Ares Capital and gave the stock a “buy” rating in a report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the stock. Ares Capital currently has a consensus rating of “Buy” and an average target price of $17.96.

NASDAQ:ARCC traded down $0.15 during mid-day trading on Monday, hitting $16.74. 2,319,189 shares of the stock were exchanged, compared to its average volume of 2,032,096. The stock has a market cap of $7.25 billion, a P/E ratio of 12.04, a PEG ratio of 3.57 and a beta of 0.61. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.71. Ares Capital has a fifty-two week low of $15.03 and a fifty-two week high of $17.11.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.38 dividend. The ex-dividend date is Thursday, June 14th. This represents a $1.52 annualized dividend and a yield of 9.08%. Ares Capital’s dividend payout ratio is presently 109.35%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Arrowstreet Capital Limited Partnership raised its holdings in Ares Capital by 118.4% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,600,653 shares of the investment management company’s stock valued at $72,322,000 after acquiring an additional 2,494,297 shares in the last quarter. OMERS ADMINISTRATION Corp raised its holdings in Ares Capital by 35.1% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 2,683,459 shares of the investment management company’s stock valued at $42,586,000 after acquiring an additional 697,640 shares in the last quarter. Bruni J V & Co. Co. raised its holdings in Ares Capital by 6.5% in the 1st quarter. Bruni J V & Co. Co. now owns 2,428,309 shares of the investment management company’s stock valued at $38,537,000 after acquiring an additional 148,192 shares in the last quarter. Brown Advisory Inc. raised its holdings in Ares Capital by 1.0% in the 4th quarter. Brown Advisory Inc. now owns 2,288,552 shares of the investment management company’s stock valued at $35,976,000 after acquiring an additional 21,785 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Ares Capital by 979.8% in the 1st quarter. Millennium Management LLC now owns 2,061,345 shares of the investment management company’s stock valued at $32,714,000 after acquiring an additional 1,870,436 shares in the last quarter. 41.37% of the stock is owned by hedge funds and other 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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Earnings History and Estimates for Ares Capital (NASDAQ:ARCC)

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