Yahoo Finance Ares Capital (ARCC) Flat As Market Gains: What You Should Know
Ares Capital (ARCC) ended the recent trading session at $20.59, demonstrating no swing from the preceding day's closing price. This move lagged the S&P 500's daily gain of 0.87%. At the same time, the Dow added 0.67%, and the tech-heavy Nasdaq gained 1.11%.
Coming into today, shares of the private equity firm had gained 3% in the past month. In that same time, the Finance sector lost 5.66%, while the S&P 500 lost 3.97%.
Market participants will be closely following the financial results of Ares Capital in its upcoming release. The company plans to announce its earnings on May 1, 2024. The company is predicted to post an EPS of $0.59, indicating a 5.36% growth compared to the equivalent quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $701.4 million, indicating a 13.5% increase compared to the same quarter of the previous year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.35 per share and a revenue of $2.85 billion, signifying shifts of -0.84% and +8.89%, respectively, from the last year.
Investors should also pay attention to any latest changes in analyst estimates for Ares Capital. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.91% increase. Right now, Ares Capital possesses a Zacks Rank of #3 (Hold).
Investors should also note Ares Capital's current valuation metrics, including its Forward P/E ratio of 8.75. For comparison, its industry has an average Forward P/E of 7.89, which means Ares Capital is trading at a premium to the group.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This industry currently has a Zacks Industry Rank of 95, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Ares Capital Corporation (ARCC) : Free Stock Analysis Report
