Analysts Forecast Ares Capital Co. (NASDAQ:ARCC) to Post Quarterly Sales of $466.61 Million


Brokers expect Ares Capital Co. (NASDAQ:ARCC – Get Rating) to report sales of $466.61 million for the current fiscal quarter, according to Zacks. Four analysts have released earnings estimates for Ares Capital, with the lowest sales estimate at $457.82 million and the highest estimate at $482.18 million. Ares Capital recorded sales of $459.00 million in the same quarter last year, which would indicate a positive growth rate of 1.7% year-over-year. The company is expected to release its next quarterly results on Monday, January 1.

On average, analysts expect Ares Capital to report annual sales of $1.89 billion for the current fiscal year, with estimates ranging from $1.84 billion to $1.98 billion. For next year, analysts expect the company to post sales of $2.06 billion, with estimates ranging from $1.95 billion to $2.25 billion. Zacks sales calculations are an average based on a survey of analysts who follow Ares Capital.

Ares Capital (NASDAQ:ARCC – Get Rating) last released its quarterly earnings data on Tuesday, April 26. The investment management firm reported EPS of $0.41 for the quarter, missing the consensus estimate of $0.47 per ($0.06). The company posted revenue of $440.00 million for the quarter, versus analyst estimates of $486.12 million. Ares Capital had a return on equity of 10.23% and a net margin of 75.13%. The company’s quarterly revenue increased 12.8% year over year. In the same quarter a year earlier, the company posted earnings per share of $0.43.

A number of research companies have recently published reports on ARCC. The Hovde Group lowered its target price on Ares Capital shares to $19.00 in a Friday, May 20 research report. JPMorgan Chase & Co. upgraded shares of Ares Capital from a “neutral” rating to an “overweight” rating and set a target price of $22.00 for the company in a Wednesday, April 27 research report. Raymond James raised his price target on Ares Capital shares from $22.00 to $23.00 and gave the stock an “outperform” rating in a Thursday, Feb. 10 research report. TheStreet downgraded shares of Ares Capital from a “b-” rating to a “c+” rating in a research report on Monday, May 23. Finally, StockNews.com upgraded Ares Capital shares from a “sell” rating to a “hold” rating in a Thursday, May 12 research report. Two research analysts gave the stock a hold rating and seven gave the stock a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $22.13.

In other Ares Capital news, Director Mary Beth Henson acquired 6,000 shares of the company in a transaction that took place on Monday, March 14. The stock was purchased at an average price of $20.05 per share, with a total value of $120,300.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Additionally, insider Michael Lewis Smith acquired 54,000 shares of the company in a trade that took place on Thursday, May 19. The shares were acquired at an average cost of $18.64 per share, with a total value of $1,006,560.00. Following the purchase, the insider now owns 89,000 shares of the company, valued at approximately $1,658,960. Disclosure of this purchase can be found here. 0.59% of the shares are held by insiders.

Hedge funds and other institutional investors have recently changed their positions in the stock. Zullo Investment Group Inc. acquired a new stake in Ares Capital during the fourth quarter at a value of $27,000. Atticus Wealth Management LLC increased its stake in Ares Capital by 88.1% during the fourth quarter. Atticus Wealth Management LLC now owns 1,482 shares of the investment management company worth $31,000 after acquiring 694 additional shares in the last quarter. Financial Management Professionals Inc. increased its stake in Ares Capital by 70.7% during the first quarter. Financial Management Professionals Inc. now owns 1,775 shares of the investment management company worth $37,000 after acquiring 735 additional shares in the last quarter. Steph & Co. acquired a new stake in Ares Capital during the fourth quarter worth $42,000. Finally, Hardy Reed LLC acquired a new equity stake in Ares Capital in the first quarter worth $42,000. 29.44% of the shares are held by institutional investors.

The NASDAQ ARCC opened at $19.53 on Friday. The company has a market capitalization of $9.62 billion, a PE ratio of 6.34 and a beta of 1.01. The company has a fifty-day moving average of $20.37 and a 200-day moving average of $20.80. Ares Capital has a 1-year minimum of $17.79 and a 1-year maximum of $23.00. The company has a debt ratio of 1.13, a current ratio of 1.91 and a quick ratio of 1.91.

Ares Capital Company Profile (Get a rating)

Ares Capital Corporation is a business development firm specializing in the acquisition, recapitalization, mezzanine debt, restructurings, rescue financing and leveraged buyout transactions of middle market companies. He also does growth capital and general refinancing. He prefers to invest in companies active in basic and growth manufacturing, business services, consumer products, healthcare products and services, and information technology services.

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Earnings history and estimates for Ares Capital (NASDAQ:ARCC)



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