Brokerages Anticipate Ares Capital Corporation (ARCC) Will Post Quarterly Sales of $295.02 Million

Wall Street analysts expect that Ares Capital Corporation (NASDAQ:ARCC) will post sales of $295.02 million for the current quarter, according to Zacks Investment Research. Six analysts have made estimates for Ares Capital Corporation’s earnings, with estimates ranging from $281.50 million to $304.49 million. Ares Capital Corporation reported sales of $258.67 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 14.1%. The business is expected to issue its next earnings results before the market opens on Thursday, November 2nd.

According to Zacks, analysts expect that Ares Capital Corporation will report full year sales of $295.02 million for the current financial year, with estimates ranging from $1.14 billion to $1.18 billion. For the next financial year, analysts expect that the company will report sales of $1.31 billion per share, with estimates ranging from $1.20 billion to $1.43 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Ares Capital Corporation.

Ares Capital Corporation (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $284.00 million during the quarter, compared to analyst estimates of $297.77 million. Ares Capital Corporation had a return on equity of 8.95% and a net margin of 44.61%. During the same period in the prior year, the business posted $0.50 EPS.

ARCC has been the subject of several research reports. Zacks Investment Research downgraded shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. BidaskClub cut shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. National Securities restated a “buy” rating and set a $19.00 target price on shares of Ares Capital Corporation in a report on Monday, August 7th. Citigroup Inc. assumed coverage on shares of Ares Capital Corporation in a report on Wednesday, September 20th. They set an “outperform” rating and a $18.00 target price for the company. Finally, Keefe, Bruyette & Woods set a $19.00 target price on shares of Ares Capital Corporation and gave the stock a “buy” rating in a report on Friday, October 6th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $17.89.

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A number of hedge funds have recently made changes to their positions in the business. Vaughan Nelson Investment Management L.P. lifted its stake in Ares Capital Corporation by 1.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,970,937 shares of the investment management company’s stock valued at $97,864,000 after acquiring an additional 93,695 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Ares Capital Corporation by 174.6% in the second quarter. Principal Financial Group Inc. now owns 5,725,346 shares of the investment management company’s stock valued at $93,782,000 after acquiring an additional 3,640,124 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in Ares Capital Corporation by 1.5% in the second quarter. Ameriprise Financial Inc. now owns 5,495,584 shares of the investment management company’s stock valued at $90,020,000 after acquiring an additional 78,599 shares during the last quarter. Confluence Investment Management LLC lifted its stake in Ares Capital Corporation by 4.9% in the second quarter. Confluence Investment Management LLC now owns 4,895,029 shares of the investment management company’s stock valued at $80,181,000 after acquiring an additional 229,670 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D lifted its stake in Ares Capital Corporation by 12.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 3,600,000 shares of the investment management company’s stock valued at $59,004,000 after acquiring an additional 400,000 shares during the last quarter. Hedge funds and other institutional investors own 45.15% of the company’s stock.

Shares of Ares Capital Corporation (ARCC) opened at 16.34 on Friday. Ares Capital Corporation has a 52 week low of $15.01 and a 52 week high of $17.87. The firm’s 50 day moving average is $16.23 and its 200-day moving average is $16.48.

The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 9.30%. The ex-dividend date of this dividend was Thursday, September 14th. Ares Capital Corporation’s dividend payout ratio is currently 117.83%.

Ares Capital Corporation Company Profile

Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.

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Earnings History and Estimates for Ares Capital Corporation (NASDAQ:ARCC)

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