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Ares Capital (ARCC) Stock Sinks As Market Gains: What You Should Know
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Ares Capital (ARCC - Free Report) closed the latest trading day at $21.19, indicating a -0.14% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.55%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.63%.
The the stock of private equity firm has fallen by 0.24% in the past month, leading the Finance sector's loss of 2.67% and undershooting the S&P 500's gain of 4.28%.
Investors will be eagerly watching for the performance of Ares Capital in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. The company's upcoming EPS is projected at $0.58, signifying steadiness compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $714.27 million, up 12.66% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.34 per share and a revenue of $2.87 billion, representing changes of -1.27% and +9.98%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Ares Capital. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Ares Capital holds a Zacks Rank of #2 (Buy).
Looking at its valuation, Ares Capital is holding a Forward P/E ratio of 9.07. This indicates a premium in contrast to its industry's Forward P/E of 8.45.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
To follow ARCC in the coming trading sessions, be sure to utilize Zacks.com.
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Ares Capital (ARCC) Stock Sinks As Market Gains: What You Should Know
Ares Capital (ARCC - Free Report) closed the latest trading day at $21.19, indicating a -0.14% change from the previous session's end. This move lagged the S&P 500's daily gain of 0.55%. Meanwhile, the Dow gained 0.62%, and the Nasdaq, a tech-heavy index, added 0.63%.
The the stock of private equity firm has fallen by 0.24% in the past month, leading the Finance sector's loss of 2.67% and undershooting the S&P 500's gain of 4.28%.
Investors will be eagerly watching for the performance of Ares Capital in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 30, 2024. The company's upcoming EPS is projected at $0.58, signifying steadiness compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $714.27 million, up 12.66% from the prior-year quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.34 per share and a revenue of $2.87 billion, representing changes of -1.27% and +9.98%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Ares Capital. These recent revisions tend to reflect the evolving nature of short-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Ares Capital holds a Zacks Rank of #2 (Buy).
Looking at its valuation, Ares Capital is holding a Forward P/E ratio of 9.07. This indicates a premium in contrast to its industry's Forward P/E of 8.45.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 75, putting it in the top 30% 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.
To follow ARCC in the coming trading sessions, be sure to utilize Zacks.com.