Ares Capital (ARCC) reported an earnings beat for its 3rd quarter, ending 9/30/2022. Earnings per share came in at $0.50, versus the expected $0.49.
The reported revenue of $546 million represents growth of 13.99% compared to the previous quarter, and a decrease of -3.02% compared to the same period last year.
For the 4th quarter, analysts project earnings of $0.52 per share.
Often, earnings announcements affect a stock’s price. See a history of earnings-related price changes for ARCC stock.
What’s next for Ares Capital post earnings
According to TipRanks, the average analyst consensus on ARCC stock is a Strong Buy. This consensus is based on 6 analyst ratings made in the past 3 months. Ares Capital’s average price target of $21.08 implies upside potential of 10.66% from current levels.
See our Earnings Calendar for a full list of this week’s earnings releases.
Bottom Line
An earnings beat can signify positive movement ahead for a stock’s price. Currently, ARCC price is $19.05, indicating a 5-day rise of 6.42%.
About Ares Capital
Ares Capital Corp. is a closed-end, non-diversified management investment company. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. The company was founded on April 1, 2004 and is headquartered in New York, NY..
Learn more about ARCC financials here
