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Ares Capital (ARCC) Registers a Bigger Fall Than the Market: Important Facts to Note
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In the latest trading session, Ares Capital (ARCC - Free Report) closed at $20.70, marking a -0.72% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.71%. On the other hand, the Dow registered a loss of 0.93%, and the technology-centric Nasdaq decreased by 0.81%.
Shares of the private equity firm witnessed a gain of 1.31% over the previous month, beating the performance of the Finance sector with its loss of 2.01% and the S&P 500's gain of 1.08%.
The upcoming earnings release of Ares Capital will be of great interest to investors. The company's earnings report is expected on July 30, 2024. The company is forecasted to report an EPS of $0.58, showcasing no movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $714.27 million, up 12.66% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.34 per share and a revenue of $2.87 billion, demonstrating changes of -1.27% and +9.98%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Ares Capital. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Ares Capital holds a Zacks Rank of #2 (Buy).
Investors should also note Ares Capital's current valuation metrics, including its Forward P/E ratio of 8.91. This expresses a premium compared to the average Forward P/E of 8.26 of its industry.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 68, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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Ares Capital (ARCC) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest trading session, Ares Capital (ARCC - Free Report) closed at $20.70, marking a -0.72% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.71%. On the other hand, the Dow registered a loss of 0.93%, and the technology-centric Nasdaq decreased by 0.81%.
Shares of the private equity firm witnessed a gain of 1.31% over the previous month, beating the performance of the Finance sector with its loss of 2.01% and the S&P 500's gain of 1.08%.
The upcoming earnings release of Ares Capital will be of great interest to investors. The company's earnings report is expected on July 30, 2024. The company is forecasted to report an EPS of $0.58, showcasing no movement from the corresponding quarter of the prior year. Our most recent consensus estimate is calling for quarterly revenue of $714.27 million, up 12.66% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $2.34 per share and a revenue of $2.87 billion, demonstrating changes of -1.27% and +9.98%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for Ares Capital. These revisions typically reflect the latest short-term business trends, which can change frequently. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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. Within the past 30 days, our consensus EPS projection remained stagnant. As of now, Ares Capital holds a Zacks Rank of #2 (Buy).
Investors should also note Ares Capital's current valuation metrics, including its Forward P/E ratio of 8.91. This expresses a premium compared to the average Forward P/E of 8.26 of its industry.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. Currently, this industry holds a Zacks Industry Rank of 68, positioning it in the top 27% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.