Ares Capital Co. (ARCC) Expected to Announce Quarterly Sales of $336.39 Million
Analysts expect Ares Capital Co. (NASDAQ:ARCC) to announce $336.39 million in sales for the current quarter, according to Zacks Investment Research. Seven analysts have issued estimates for Ares Capital’s earnings, with the highest sales estimate coming in at $347.95 million and the lowest estimate coming in at $326.97 million. Ares Capital posted sales of $317.00 million during the same quarter last year, which suggests a positive year over year growth rate of 6.1%. The business is expected to issue its next quarterly earnings report on Wednesday, May 1st.
On average, analysts expect that Ares Capital will report full-year sales of $1.39 billion for the current financial year, with estimates ranging from $1.34 billion to $1.48 billion. For the next year, analysts anticipate that the business will report sales of $1.49 billion, with estimates ranging from $1.40 billion to $1.58 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Ares Capital.
Ares Capital (NASDAQ:ARCC) last announced its earnings results on Tuesday, February 12th. The investment management company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.04. The business had revenue of $345.00 million for the quarter, compared to analyst estimates of $327.24 million. Ares Capital had a return on equity of 9.69% and a net margin of 64.17%. During the same period in the prior year, the company earned $0.38 EPS.
Shares of NASDAQ ARCC opened at $17.09 on Thursday. The stock has a market capitalization of $7.25 billion, a price-to-earnings ratio of 10.17, a price-to-earnings-growth ratio of 3.35 and a beta of 0.64. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.05 and a current ratio of 1.05. Ares Capital has a twelve month low of $14.50 and a twelve month high of $17.63.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 15th will be given a dividend of $0.40 per share. The ex-dividend date is Thursday, March 14th. This is a positive change from Ares Capital’s previous quarterly dividend of $0.39. This represents a $1.60 annualized dividend and a dividend yield of 9.36%. Ares Capital’s dividend payout ratio is 95.24%.
Several institutional investors have recently made changes to their positions in ARCC. Investec Asset Management LTD bought a new position in shares of Ares Capital during the 4th quarter valued at about $20,921,000. 1832 Asset Management L.P. increased its position in shares of Ares Capital by 98.0% during the 4th quarter. 1832 Asset Management L.P. now owns 2,633,100 shares of the investment management company’s stock valued at $41,019,000 after purchasing an additional 1,303,034 shares during the last quarter. Marshall Wace LLP bought a new position in shares of Ares Capital during the 3rd quarter valued at about $12,517,000. DPM Capital LLC bought a new position in shares of Ares Capital during the 4th quarter valued at about $11,269,000. Finally, Thornburg Investment Management Inc. increased its position in shares of Ares Capital by 4.1% during the 4th quarter. Thornburg Investment Management Inc. now owns 15,884,489 shares of the investment management company’s stock valued at $247,480,000 after purchasing an additional 632,655 shares during the last quarter. Hedge funds and other institutional investors own 39.22% of the company’s stock.
About Ares Capital
Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.
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