Ares Capital Corporation (NASDAQ:ARCC) Expected to Post Quarterly Sales of $297.77 Million

Analysts forecast that Ares Capital Corporation (NASDAQ:ARCC) will post sales of $297.77 million for the current quarter, according to Zacks. Six analysts have issued estimates for Ares Capital Corporation’s earnings, with the lowest sales estimate coming in at $288.22 million and the highest estimate coming in at $309.43 million. Ares Capital Corporation posted sales of $245.26 million in the same quarter last year, which suggests a positive year-over-year growth rate of 21.4%. The company is scheduled to report its next quarterly earnings results before the market opens on Wednesday, August 2nd.

On average, analysts expect that Ares Capital Corporation will report full-year sales of $297.77 million for the current year, with estimates ranging from $1.16 billion to $1.23 billion. For the next fiscal year, analysts expect that the business will post sales of $1.33 billion per share, with estimates ranging from $1.18 billion to $1.41 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Ares Capital Corporation.

Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings results on Wednesday, May 3rd. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.04. Ares Capital Corporation had a net margin of 44.29% and a return on equity of 9.32%. The firm had revenue of $275 million for the quarter, compared to the consensus estimate of $294.92 million. During the same quarter last year, the company earned $0.42 earnings per share.

Several research analysts have recently weighed in on ARCC shares. Zacks Investment Research lowered shares of Ares Capital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Jefferies Group LLC restated a “buy” rating and set a $19.50 price objective on shares of Ares Capital Corporation in a research note on Friday, April 7th. Keefe, Bruyette & Woods restated a “buy” rating and set a $18.50 price objective on shares of Ares Capital Corporation in a research note on Friday, June 16th. TheStreet lowered shares of Ares Capital Corporation from a “b” rating to a “c+” rating in a research note on Wednesday, June 14th. Finally, National Securities upgraded shares of Ares Capital Corporation from a “neutral” rating to a “buy” rating and upped their price target for the company from $18.00 to $19.00 in a research note on Monday, May 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $17.90.

A number of hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System increased its stake in Ares Capital Corporation by 16.2% in the first quarter. California Public Employees Retirement System now owns 821,400 shares of the investment management company’s stock worth $14,276,000 after buying an additional 114,700 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in Ares Capital Corporation by 16.4% in the first quarter. PNC Financial Services Group Inc. now owns 59,220 shares of the investment management company’s stock worth $1,029,000 after buying an additional 8,354 shares in the last quarter. Pacer Advisors Inc. increased its stake in Ares Capital Corporation by 61.0% in the first quarter. Pacer Advisors Inc. now owns 70,134 shares of the investment management company’s stock worth $1,219,000 after buying an additional 26,569 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in Ares Capital Corporation by 5,673.0% in the first quarter. BNP Paribas Arbitrage SA now owns 263,943 shares of the investment management company’s stock worth $4,587,000 after buying an additional 259,371 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware increased its stake in Ares Capital Corporation by 38.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 700,901 shares of the investment management company’s stock worth $12,182,000 after buying an additional 193,496 shares in the last quarter. 48.37% of the stock is owned by hedge funds and other institutional investors.

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Ares Capital Corporation (NASDAQ ARCC) traded down 0.06% during midday trading on Thursday, reaching $16.42. 1,016,421 shares of the company’s stock were exchanged. Ares Capital Corporation has a 52 week low of $15.01 and a 52 week high of $17.87. The firm has a 50-day moving average price of $16.40 and a 200 day moving average price of $16.99.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Shareholders of record on Thursday, June 15th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 9.26%. The ex-dividend date was Tuesday, June 13th. Ares Capital Corporation’s dividend payout ratio is currently 110.95%.

About Ares Capital Corporation

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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