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

Analysts expect that Ares Capital Co. (NASDAQ:ARCC) will post sales of $370.25 million for the current quarter, Zacks Investment Research reports. Seven analysts have made estimates for Ares Capital’s earnings, with estimates ranging from $363.06 million to $385.67 million. Ares Capital reported sales of $342.00 million during the same quarter last year, which would indicate a positive year over year growth rate of 8.3%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, October 30th.

On average, analysts expect that Ares Capital will report full-year sales of $1.50 billion for the current year, with estimates ranging from $1.46 billion to $1.53 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.57 billion, with estimates ranging from $1.51 billion to $1.62 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that follow Ares Capital.

Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, July 30th. The investment management company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.05. The company had revenue of $382.00 million for 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 company’s revenue was up 14.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.60 EPS.

A number of analysts recently weighed in on ARCC shares. Raymond James increased 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. Compass Point downgraded shares of Ares Capital from a “buy” rating to a “neutral” rating in a research report on Friday, August 23rd. BidaskClub downgraded shares of Ares Capital from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th. BMO Capital Markets upgraded shares of Ares Capital from a “market perform” rating to an “outperform” rating and increased their price target for the company from $19.00 to $20.00 in a research report on Monday, August 19th. Finally, Zacks Investment Research upgraded shares of Ares Capital from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Ares Capital has a consensus rating of “Buy” and a consensus target price of $19.57.

In related news, CFO Penelope F. Roll bought 2,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average cost of $18.36 per share, for a total transaction of $36,720.00. Following the acquisition, the chief financial officer now owns 11,147 shares of the company’s stock, valued at approximately $204,658.92. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, Director Daniel G. Kelly, Jr. bought 6,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were 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 have acquired a total of 13,425 shares of company stock worth $247,289 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Nordea Investment Management AB grew its stake in shares of Ares Capital by 50.9% during the 1st quarter. Nordea Investment Management AB now owns 1,684 shares of the investment management company’s stock worth $29,000 after acquiring an additional 568 shares in the last quarter. MBM Wealth Consultants LLC grew its stake in shares of Ares Capital by 2.0% during the 2nd quarter. MBM Wealth Consultants LLC now owns 32,806 shares of the investment management company’s stock worth $590,000 after acquiring an additional 632 shares in the last quarter. Wambolt & Associates LLC grew its stake in shares of Ares Capital by 0.8% during the 2nd quarter. Wambolt & Associates LLC now owns 84,062 shares of the investment management company’s stock worth $1,508,000 after acquiring an additional 693 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Ares Capital by 6.4% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 12,844 shares of the investment management company’s stock worth $230,000 after acquiring an additional 774 shares in the last quarter. Finally, DAVENPORT & Co LLC grew its stake in shares of Ares Capital by 0.6% in the second quarter. DAVENPORT & Co LLC now owns 124,897 shares of the investment management company’s stock valued at $2,241,000 after buying an additional 804 shares in the last quarter. Hedge funds and other institutional investors own 36.31% of the company’s stock.

Shares of NASDAQ:ARCC remained flat at $$18.85 during mid-day trading on Friday. 410,882 shares of the company were exchanged, compared to its average volume of 1,555,756. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 11.22 and a beta of 0.60. The stock has a fifty day moving average of $18.71 and a 200 day moving average of $17.95. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.10 and a current ratio of 2.10. Ares Capital has a 1-year low of $14.50 and a 1-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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