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Ares Capital (ARCC) Beats Stock Market Upswing: What Investors Need to Know
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In the latest market close, Ares Capital (ARCC - Free Report) reached $19.19, with a +1.21% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.63%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.39%.
Prior to today's trading, shares of the private equity firm had lost 3.12% over the past month. This has was narrower than the Finance sector's loss of 3.32% and the S&P 500's loss of 3.39% in that time.
Market participants will be closely following the financial results of Ares Capital in its upcoming release. The company plans to announce its earnings on October 24, 2023. The company is forecasted to report an EPS of $0.58, showcasing a 16% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $655.14 million, indicating a 22% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.34 per share and a revenue of $2.58 billion, indicating changes of +15.84% and +23%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Ares Capital. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Ares Capital possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Ares Capital is at present trading with a Forward P/E ratio of 8.12. For comparison, its industry has an average Forward P/E of 7.16, 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 47, which puts it in the top 19% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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 (ARCC) Beats Stock Market Upswing: What Investors Need to Know
In the latest market close, Ares Capital (ARCC - Free Report) reached $19.19, with a +1.21% movement compared to the previous day. The stock's change was more than the S&P 500's daily gain of 0.63%. Elsewhere, the Dow saw an upswing of 0.59%, while the tech-heavy Nasdaq appreciated by 0.39%.
Prior to today's trading, shares of the private equity firm had lost 3.12% over the past month. This has was narrower than the Finance sector's loss of 3.32% and the S&P 500's loss of 3.39% in that time.
Market participants will be closely following the financial results of Ares Capital in its upcoming release. The company plans to announce its earnings on October 24, 2023. The company is forecasted to report an EPS of $0.58, showcasing a 16% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $655.14 million, indicating a 22% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.34 per share and a revenue of $2.58 billion, indicating changes of +15.84% and +23%, respectively, from the former year.
Investors might also notice recent changes to analyst estimates for Ares Capital. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Right now, Ares Capital possesses a Zacks Rank of #3 (Hold).
In the context of valuation, Ares Capital is at present trading with a Forward P/E ratio of 8.12. For comparison, its industry has an average Forward P/E of 7.16, 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 47, which puts it in the top 19% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.