Ares Capital (ARCC) Releases Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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Ares Capital (NASDAQ:ARCC) issued its quarterly earnings data on Tuesday. The investment management company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04, RTT News reports. Ares Capital had a return on equity of 9.34% and a net margin of 72.13%. During the same period last year, the firm posted $0.38 earnings per share.

NASDAQ ARCC opened at $16.60 on Tuesday. The company has a market capitalization of $7.08 billion, a PE ratio of 11.94, a P/E/G ratio of 3.27 and a beta of 0.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.41 and a quick ratio of 2.41. Ares Capital has a 12 month low of $14.50 and a 12 month high of $17.63.

In related news, CFO Penelope F. Roll sold 6,000 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $16.76, for a total value of $100,560.00. Following the sale, the chief financial officer now owns 11,147 shares in the company, valued at approximately $186,823.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R. Kipp Deveer purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was acquired at an average price of $16.02 per share, for a total transaction of $801,000.00. Following the purchase, the chief executive officer now owns 225,000 shares in the company, valued at approximately $3,604,500. The disclosure for this purchase can be found here. In the last three months, insiders bought 50,600 shares of company stock valued at $810,730. 0.49% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Northeast Financial Consultants Inc raised its stake in Ares Capital by 58.5% in the 3rd quarter. Northeast Financial Consultants Inc now owns 45,100 shares of the investment management company’s stock valued at $775,000 after acquiring an additional 16,650 shares during the period. V Wealth Management LLC raised its stake in Ares Capital by 10.0% in the 3rd quarter. V Wealth Management LLC now owns 53,464 shares of the investment management company’s stock valued at $922,000 after acquiring an additional 4,877 shares during the period. Steward Partners Investment Advisory LLC raised its stake in Ares Capital by 1,069.1% in the 3rd quarter. Steward Partners Investment Advisory LLC now owns 120,354 shares of the investment management company’s stock valued at $2,069,000 after acquiring an additional 110,059 shares during the period. Monument Capital Management increased its position in Ares Capital by 4.8% during the 4th quarter. Monument Capital Management now owns 75,930 shares of the investment management company’s stock worth $1,183,000 after buying an additional 3,458 shares during the period. Finally, Thornburg Investment Management Inc. increased its position in Ares Capital by 0.7% during the 3rd quarter. Thornburg Investment Management Inc. now owns 15,251,834 shares of the investment management company’s stock worth $262,179,000 after buying an additional 99,981 shares during the period. Institutional investors and hedge funds own 39.45% of the company’s stock.

Several equities analysts recently issued reports on the company. BidaskClub upgraded Ares Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 13th. Zacks Investment Research raised Ares Capital from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, December 3rd. Oppenheimer set a $18.00 price target on Ares Capital and gave the stock a “buy” rating in a research report on Thursday, November 1st. Finally, National Securities reaffirmed a “buy” rating and set a $19.00 price target on shares of Ares Capital in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.25.

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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 for Ares Capital (NASDAQ:ARCC)

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