Overview
Ares Capital Q3 GAAP net income per share falls to $0.57 from $0.62 yr/yr
Core EPS for Q3 meets analyst expectations at $0.50
Company maintains Q3 dividend at $0.48 per share
Outlook
Company did not provide specific financial guidance for future periods
Result Drivers
INVESTMENT ACTIVITY - Ares Capital made $3.9 bln in new investment commitments, focusing on first lien senior secured loans
CREDIT PERFORMANCE - Co reports record net asset value per share, citing healthy credit performance
BALANCE SHEET ENHANCEMENT - Raised over $1 bln in new debt capital, strengthening balance sheet
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | Meet | $0.50 | $0.50 (13 Analysts) |
Q3 EPS | $0.57 | ||
Q3 Net Income | $404 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the investment management & fund operators peer group is "buy"
Wall Street's median 12-month price target for Ares Capital Corp is $23.00, about 11.7% above its October 27 closing price of $20.32
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 11 three months ago
Press Release: ID:nBw7Nb6N7a
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)
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