$370.25 Million in Sales Expected for Ares Capital Co. (NASDAQ:ARCC) This Quarter

Analysts expect Ares Capital Co. (NASDAQ:ARCC) to post $370.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have provided estimates for Ares Capital’s earnings. The lowest sales estimate is $363.06 million and the highest is $385.67 million. Ares Capital posted sales of $342.00 million in the same quarter last year, which suggests a positive year-over-year growth rate of 8.3%. The firm is expected to report its next quarterly earnings results before the market opens on Wednesday, October 30th.

On average, analysts expect that Ares Capital will report full-year sales of $1.50 billion for the current financial year, with estimates ranging from $1.46 billion to $1.53 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.57 billion, with estimates ranging from $1.51 billion to $1.62 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Ares Capital.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Tuesday, July 30th. The investment management company reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.05. The company had revenue of $382.00 million during the quarter, compared to the consensus estimate of $363.60 million. Ares Capital had a net margin of 53.81% and a return on equity of 10.72%. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share.

ARCC has been the subject of several analyst reports. BMO Capital Markets raised shares of Ares Capital from a “market perform” rating to an “outperform” rating and raised their price target for the company from $19.00 to $20.00 in a research report on Monday, August 19th. Compass Point downgraded shares of Ares Capital from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. Zacks Investment Research raised shares of Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Monday, August 26th. BidaskClub downgraded shares of Ares Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. Finally, Raymond James raised their price target on shares of Ares Capital from $19.00 to $19.50 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $19.57.

In related news, CFO Penelope F. Roll bought 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average price of $18.36 per share, for a total transaction of $36,720.00. Following the completion of the acquisition, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $204,658.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel G. Kelly, Jr. bought 6,000 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $18.44 per share, for a total transaction of $110,640.00. The disclosure for this purchase can be found here. Insiders purchased 13,425 shares of company stock worth $247,289 in the last 90 days. 0.53% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC boosted its holdings in Ares Capital by 164.5% in the third quarter. Signaturefd LLC now owns 1,645 shares of the investment management company’s stock worth $31,000 after purchasing an additional 1,023 shares during the last quarter. DNB Asset Management AS boosted its holdings in Ares Capital by 2.0% in the third quarter. DNB Asset Management AS now owns 35,945 shares of the investment management company’s stock worth $670,000 after purchasing an additional 700 shares during the last quarter. Confluence Investment Management LLC boosted its holdings in Ares Capital by 1.1% in the third quarter. Confluence Investment Management LLC now owns 5,041,733 shares of the investment management company’s stock worth $93,953,000 after purchasing an additional 55,668 shares during the last quarter. Guild Investment Management Inc. boosted its holdings in Ares Capital by 7.1% in the third quarter. Guild Investment Management Inc. now owns 95,960 shares of the investment management company’s stock worth $1,788,000 after purchasing an additional 6,400 shares during the last quarter. Finally, Joel Isaacson & Co. LLC boosted its holdings in Ares Capital by 25.8% in the third quarter. Joel Isaacson & Co. LLC now owns 50,029 shares of the investment management company’s stock worth $932,000 after purchasing an additional 10,261 shares during the last quarter. Institutional investors own 36.25% of the company’s stock.

Shares of ARCC traded down $0.02 on Friday, hitting $18.38. 79,062 shares of the stock traded hands, compared to its average volume of 1,554,885. The company has a market capitalization of $7.86 billion, a PE ratio of 10.94 and a beta of 0.59. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.10 and a current ratio of 2.10. The business has a 50 day simple moving average of $18.70 and a 200 day simple moving average of $18.12. Ares Capital has a one year low of $14.50 and a one year high of $19.28.

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.

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

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