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Ares Capital (ARCC) Ascends While Market Falls: Some Facts to Note
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The most recent trading session ended with Ares Capital (ARCC - Free Report) standing at $19.50, reflecting a +0.1% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq depreciated by 0.25%.
Coming into today, shares of the private equity firm had gained 0.78% in the past month. In that same time, the Finance sector lost 3.64%, while the S&P 500 lost 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of Ares Capital in its upcoming earnings disclosure. The company's earnings report is set to go public 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. Our most recent consensus estimate is calling for quarterly revenue of $655.14 million, up 22% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.34 per share and a revenue of $2.58 billion, representing changes of +15.84% and +23%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ares Capital. Recent revisions tend to reflect the latest 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 shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Ares Capital possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Ares Capital is presently being traded at a Forward P/E ratio of 8.34. This represents a premium compared to its industry's average Forward P/E of 7.17.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Ares Capital (ARCC) Ascends While Market Falls: Some Facts to Note
The most recent trading session ended with Ares Capital (ARCC - Free Report) standing at $19.50, reflecting a +0.1% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.01%. Elsewhere, the Dow saw an upswing of 0.04%, while the tech-heavy Nasdaq depreciated by 0.25%.
Coming into today, shares of the private equity firm had gained 0.78% in the past month. In that same time, the Finance sector lost 3.64%, while the S&P 500 lost 1.6%.
Analysts and investors alike will be keeping a close eye on the performance of Ares Capital in its upcoming earnings disclosure. The company's earnings report is set to go public 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. Our most recent consensus estimate is calling for quarterly revenue of $655.14 million, up 22% from the year-ago period.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.34 per share and a revenue of $2.58 billion, representing changes of +15.84% and +23%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Ares Capital. Recent revisions tend to reflect the latest 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 shows that these estimate changes are directly correlated with near-term stock prices. 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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Ares Capital possesses a Zacks Rank of #3 (Hold).
In terms of valuation, Ares Capital is presently being traded at a Forward P/E ratio of 8.34. This represents a premium compared to its industry's average Forward P/E of 7.17.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. At present, this industry carries a Zacks Industry Rank of 98, placing it within the top 39% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.