Ares Capital (ARCC) to Release Earnings on Wednesday

Ares Capital (NASDAQ:ARCC) will post its quarterly earnings results before the market opens on Wednesday, May 1st. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Wednesday, February 7th. The investment management company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The business had revenue of $707.00 million for the quarter, compared to analysts’ expectations of $669.78 million. Ares Capital had a net margin of 58.22% and a return on equity of 12.50%. Ares Capital’s revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.68 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 Price Performance

NASDAQ ARCC opened at $20.81 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 1.06. Ares Capital has a 12-month low of $17.53 and a 12-month high of $20.94. The company has a 50 day moving average price of $20.37 and a two-hundred day moving average price of $20.04. The stock has a market capitalization of $12.63 billion, a PE ratio of 7.79 and a beta of 1.00.

Ares Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.92 annualized dividend and a yield of 9.23%. Ares Capital’s dividend payout ratio (DPR) is currently 71.91%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ARCC. Wells Fargo & Company boosted their price objective on shares of Ares Capital from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Monday, January 29th. JMP Securities reissued a “market outperform” rating and set a $21.00 target price on shares of Ares Capital in a research report on Tuesday, March 26th. Finally, B. Riley lowered Ares Capital from a “buy” rating to a “neutral” rating and set a $21.00 price objective on the stock. in a research note on Monday, January 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.80.

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.