Ares Capital (ARCC) to Release Quarterly Earnings on Tuesday

Ares Capital (NASDAQ:ARCC) will announce its earnings results before the market opens on Tuesday, July 30th. Analysts expect the company to announce earnings of $0.58 per share for the quarter. Individual interested in registering for the company’s earnings conference call can do so using this link.

Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). The firm had revenue of $701.00 million during the quarter, compared to the consensus estimate of $703.85 million. Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period last year, the company earned $0.56 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 Trading Up 0.9 %

Shares of NASDAQ ARCC opened at $20.95 on Monday. Ares Capital has a twelve month low of $18.55 and a twelve month high of $21.84. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. The business has a fifty day simple moving average of $21.07 and a two-hundred day simple moving average of $20.65. The firm has a market cap of $12.87 billion, a PE ratio of 7.17 and a beta of 1.01.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.48 dividend. The ex-dividend date was Friday, June 14th. This represents a $1.92 annualized dividend and a dividend yield of 9.16%. Ares Capital’s payout ratio is currently 65.75%.

Analyst Ratings Changes

ARCC has been the topic of a number of research reports. Oppenheimer raised their target price on shares of Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Truist Financial upped their target price on Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a report on Thursday, May 23rd. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.57.

About Ares Capital

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.