Post-Earnings Briefing - Ares Capital

LONDON, December 1, 2014 /PRNewswire/ --

Investor-Edge.com has issued free post-earnings briefing on Ares Capital Corp. (NASDAQ: ARCC). On November 04, 2014, the company reported its financial results for Q3 FY14 (period ended September 30, 2014). Click on http://www.investor-edge.com/FreeReports to read our free earnings review on Ares Capital Corp. (Ares Capital). During Q3 FY14, the company's GAAP net income grew $0.05 per share from Q3 FY13. The company's CEO, Kipp deVeer, stated that Ares Capital has reported strong Q3 FY14 results, with GAAP earnings and core earnings, both exceeding the company's quarterly $0.38 per share dividend. Our free coverage report can be accessed at:

http://www.investor-edge.com/register

Earnings Overview 

In Q3 FY14, Ares Capital's net investment income narrowed to $105.3 million, or $0.34 per share, from $126.2 million, or $0.47 per share, in Q3 FY13. The company's net realized gains stood at $76.5 million, or $0.24 per share, in Q3 FY14, compared to $9.0 million, or $0.03 per share, in Q3 FY13. Ares Capital's reported net unrealized losses of $4.1 million, or $0.01 per share, in Q3 FY14, compared to net unrealized gains of $5.6 million, or $0.02 per share, in Q3 FY13. Meanwhile, Ares Capital's Q3 FY14 GAAP net income increased to $177.7 million, or $0.57 per share, from $140.8 million, or $0.52 per share, in Q3 FY13. The company's reported net income outperformed Bloomberg analysts' forecasts of $119.8 million, or $0.39 per share. The company's core EPS declined to $0.40 per share in Q3 FY14 from $0.48 per share in Q3 FY13.  The free research on ARCC can be downloaded as in PDF format at:

http://www.Investor-Edge.com/ARCCFreeReport

Mr. deVeer said that during Q3 FY14, Ares Capital closed over $1.3 billion in new commitments across 30 transactions in new and existing companies, which highlights the depth of its direct origination platform and the growth needs of its dynamic portfolio companies. He also informed that the company has exited certain of its equity investments at attractive returns this quarter, enabling it to recognize $0.24 per share in net realized gains during Q3 FY14.

As of September 30, 2014, Ares Capital's total assets stood at $9,203.1 million compared to $7,754.1 million as on September 30, 2013, while, its net assets per share stood at $16.71 as on September 30, 2014, compared to $16.35, as on September 30, 2013. At the end of the reported quarter, the company's portfolio investments at fair value increased to $8,783.6 million from $7,385.3 million for the Q3 FY13. Further, as of September 30, 2014, Ares had $107.9 million in cash and cash equivalents and $3.8 billion in aggregate principal amount of debt outstanding. Sign up and read the free analyst's notes on ARCC at:

http://www.Investor-Edge.com/ARCC-01122014

For Q3 FY14, Ares Capital made a dividend payment of $0.38 per share for a total of approximately $119.4 million. The dividend was paid on September 30, 2014, to the stockholders as of record of September 15, 2014. Moreover, on November 04, 2014, Ares Capital's board of directors declared a Q4 FY14 dividend of the same amount, $0.38 per share, payable on December 31, 2014, to the stockholders as of record on December 15, 2014.

Stock Performance  

On the day of the earnings release, November 04, 2014, Ares Capital's stock ended the session flat at $15.92. The stock has witnessed a mixed momentum with more upsides since then. On the last close, Friday, November 28, 2014, the stock finished at $16.45, up 0.12%. The company's shares oscillated between $16.30 and $16.45 during the session. A total of 0.94 million shares were traded, which was much below its three months average volume of 2.16 million shares. Over the previous three trading sessions and the last one month, the company's shares have gained 0.67% and 3.39%, respectively. However, the stock has fallen by 7.16% since the beginning of 2014. Shares in Ares Capital closed above their 50-day moving average of $16.10. Furthermore, the stock traded at a PE ratio of 11.66 and has a Relative Strength Index (RSI) of 59.78. Visit Investor-Edge and access the latest research on ARCC at:

http://www.Investor-Edge.com/ARCCEarningsCoverage

Sneak Peek to Corporate Insider Trading 

In the last one month, there were 6 transactions made by 5 insiders. Between November 05, 2014 and November 26, 2014, a total of 67,450 shares, worth $1.09 million, have been purchased at an average price of $16.20 per share. During the stated period Scott C. Lem, Chief Accounting Officer, Vice President and Treasurer at Ares Capital, bought 1,850 shares at an average price of $16.29 per share. On November 05, 2014, Joshua M. Bloomstein, Vice President, General Counsel and Secretary at Ares Capital, purchased 2,500 shares at $16.20 per share. On the same day, Penelope F. Roll, the company's Chief Financial Officer, and Michael J. Arougheti, Executive Vice President at Ares Capital, purchased 3,000 at $16.14 and 60,000 shares, at $16.20 respectively. Additionally, on November 20, 2014, Steve Bartlett, Director at Ares Capital, bought 100 shares at $16.31 per share. Complimentary in-depth research on ARCC is available at:

http://www.Investor-Edge.com/ARCCInsiderTrading

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