Q1 2020 EPS Estimates for Ares Capital Co. Lifted by Analyst (ARCC)
Ares Capital Co. (NASDAQ:ARCC) – Equities researchers at Jefferies Financial Group lifted their Q1 2020 EPS estimates for shares of Ares Capital in a research note issued on Wednesday, May 22nd. Jefferies Financial Group analyst J. Hecht now forecasts that the investment management company will earn $0.45 per share for the quarter, up from their prior forecast of $0.44. Jefferies Financial Group also issued estimates for Ares Capital’s FY2020 earnings at $1.82 EPS.
Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, April 30th. The investment management company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.06. Ares Capital had a net margin of 59.58% and a return on equity of 10.12%. The business had revenue of $373.00 million during the quarter, compared to analysts’ expectations of $337.96 million. During the same quarter in the prior year, the company posted $0.57 EPS.
Ares Capital stock opened at $17.83 on Thursday. Ares Capital has a 1-year low of $14.50 and a 1-year high of $18.07. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.47 and a quick ratio of 2.47. The company has a market capitalization of $7.66 billion, a PE ratio of 10.61 and a beta of 0.65.
The business also recently disclosed a special dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 16th will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a dividend yield of 9.04%. Ares Capital’s payout ratio is currently 95.24%.
In related news, Director Bates Ann Torre acquired 9,725 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was purchased at an average price of $17.61 per share, with a total value of $171,257.25. Following the transaction, the director now owns 24,000 shares of the company’s stock, valued at approximately $422,640. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven B. Mckeever acquired 5,640 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were bought at an average cost of $17.52 per share, with a total value of $98,812.80. The disclosure for this purchase can be found here. Insiders have purchased a total of 15,965 shares of company stock valued at $280,478 in the last ninety days. 0.53% of the stock is currently owned by corporate insiders.
Several large investors have recently bought and sold shares of the stock. Cerebellum GP LLC boosted its position in shares of Ares Capital by 33.7% during the 1st quarter. Cerebellum GP LLC now owns 19,376 shares of the investment management company’s stock worth $332,000 after purchasing an additional 4,886 shares during the period. Advisory Services Network LLC boosted its position in shares of Ares Capital by 2.5% during the 1st quarter. Advisory Services Network LLC now owns 45,831 shares of the investment management company’s stock worth $786,000 after purchasing an additional 1,108 shares during the period. Nordea Investment Management AB boosted its position in shares of Ares Capital by 50.9% during the 1st quarter. Nordea Investment Management AB now owns 1,684 shares of the investment management company’s stock worth $29,000 after purchasing an additional 568 shares during the period. Ameritas Investment Corp boosted its position in shares of Ares Capital by 251.4% during the 1st quarter. Ameritas Investment Corp now owns 12,316 shares of the investment management company’s stock worth $211,000 after purchasing an additional 8,811 shares during the period. Finally, V Wealth Advisors LLC boosted its position in shares of Ares Capital by 5.1% during the 1st quarter. V Wealth Advisors LLC now owns 59,706 shares of the investment management company’s stock worth $1,039,000 after purchasing an additional 2,898 shares during the period. 38.19% of the stock is owned by hedge funds and other institutional investors.
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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