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

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

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings data on Tuesday, July 30th. The investment management company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. Ares Capital had a net margin of 59.76% and a return on equity of 12.24%. The business had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $714.27 million. During the same period last year, the company posted $0.58 EPS. 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 Trading Down 0.4 %

Shares of 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. The firm has a 50 day simple moving average of $20.96 and a 200-day simple moving average of $20.92. Ares Capital has a 1-year low of $18.59 and a 1-year high of $21.84. The stock has a market cap of $13.26 billion, a price-to-earnings ratio of 7.39 and a beta of 1.01.

Ares Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 8.90%. Ares Capital’s dividend payout ratio (DPR) is 65.75%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Compass Point raised 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 report on Friday, August 23rd. Royal Bank of Canada restated an “outperform” rating and set a $22.00 target price on shares of Ares Capital in a research report on Monday, August 5th. Finally, JMP Securities raised 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 report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $21.71.

Ares Capital Company Profile

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.