Overview

* Ares Capital ( ARCC ) 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 ( ARCC ) 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/Mis Actual Consensu

s s

Estimate

Q3 Meet $0.50 $0.50

Adjusted (13

EPS Analysts

)

Q3 EPS $0.57

Q3 Net $404 mln

Income

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 ( ARCC ) 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:

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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.)