Ares Capital (ARCC) Set to Announce Quarterly Earnings on Wednesday

Ares Capital (NASDAQ:ARCC) will announce its earnings results before the market opens on Wednesday, October 30th. Analysts expect the company to announce earnings of $0.59 per share for the quarter. Investors that wish to listen to the company’s conference call can do so using this link.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Tuesday, July 30th. The investment management company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. Ares Capital had a return on equity of 12.24% and a net margin of 59.76%. During the same quarter in the prior year, the company posted $0.58 earnings per share. On average, analysts expect Ares Capital to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Ares Capital Stock Performance

NASDAQ:ARCC opened at $21.58 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital has a 12 month low of $18.59 and a 12 month high of $21.84. The firm has a market capitalization of $13.26 billion, a PE ratio of 7.39 and a beta of 1.01. The business’s fifty day moving average price is $20.96 and its 200 day moving average price is $20.92.

Ares Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a $0.48 dividend. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 annualized dividend and a yield of 8.90%. Ares Capital’s dividend payout ratio is presently 65.75%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $22.00 price objective on shares of Ares Capital in a research note on Monday, August 5th. Compass Point upgraded shares of Ares Capital to a “strong-buy” rating in a research note on Tuesday, July 30th. UBS Group upgraded shares of Ares Capital to a “hold” rating in a research note on Friday, August 23rd. Finally, JMP Securities increased their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “market outperform” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.71.

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.