Ares Capital Corporation (NASDAQ:ARCC) is set to announce third quarter earning results on Tuesday 27th October 2020, before market open.
Analysts surveyed by Thomson Reuters are predicting, ARCC to report 3Q20 income of $ 0.38 per share.
For the full year, analysts anticipate top line of $ 1409.92 million, while looking forward to income of $ 1.57 per share bottom line.
Previous Quarter Performance
Ares Capital Corporation outlined income for the second quarter of $ 0.39 per share, from the revenue of $ 350.00 million. The quarterly earnings contracted 20.41 percent compared with the same quarter last year. The consensus estimates are income of $ 0.38 per share from $ 350.66 million in revenue. The bottom line results beat street analysts by $ 0.01 or 2.63 percent, at the same time, top line results fell short of analysts by $ 0.66 million or 0.19 percent.
Stock Performance
Shares of Ares Capital Corporation traded up $ 0.16 or 1.15 percent on Friday, reaching $ 14.04 with volume of 1.39 million shares. Ares Capital Corporation has traded high as $ 14.06 and has cracked $ 13.83 on the downward trend
According to the previous trading day, closing price of $ 14.04, representing a 75.70 % increase from the 52 week low of $ 7.90 and a 28.19 % decrease over the 52 week high of $ 19.33.
The company has a market capital of $ 5.93 billion and is part of the Financial Services sector and Asset Management industry.
Recent Stock Dividend Announcement
The board of directors has authorized quarterly dividend of $ 0.40 per share on August 4, 2020. The dividend were payable on September 30, 2020 to holders of record as of the close of business on September 15, 2020 and ex-dividend date on September 14, 2020.
Conference Call
Ares Capital Corporation will be hosting a conference call at 12:00 PM eastern time on 27th October 2020, to discuss its 3Q20 financial results with the investment community. A live webcast with presentations will be available on the Internet by visiting the Company website www.arescapitalcorp.com
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.
