Ares Capital Co. (NASDAQ:ARCC) has been assigned a consensus recommendation of “Buy” from the fifteen research firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $18.00.
Several research firms have recently weighed in on ARCC. Compass Point assumed coverage on shares of Ares Capital in a research report on Wednesday, December 6th. They set a “buy” rating and a $17.50 price objective for the company. BidaskClub lowered shares of Ares Capital from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 5th. Wedbush assumed coverage on shares of Ares Capital in a research note on Monday, November 27th. They set an “outperform” rating and a $18.00 target price on the stock. TheStreet lowered shares of Ares Capital from a “b” rating to a “c+” rating in a research note on Monday, November 13th. Finally, Zacks Investment Research lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research note on Monday, November 6th.
Ares Capital (NASDAQ:ARCC) traded up $0.05 on Friday, hitting $16.47. 1,519,886 shares of the stock traded hands, compared to its average volume of 2,038,700. Ares Capital has a 52 week low of $15.48 and a 52 week high of $17.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.29 and a current ratio of 1.29. The firm has a market capitalization of $6,999.83, a PE ratio of 11.40, a PEG ratio of 3.97 and a beta of 0.63.
Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings data on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. The company had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $295.02 million. During the same period in the prior year, the company posted $0.43 earnings per share. equities research analysts anticipate that Ares Capital will post 1.38 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.23%. The ex-dividend date is Thursday, December 14th. Ares Capital’s dividend payout ratio (DPR) is 119.69%.
In other Ares Capital news, Director Michael J. Arougheti acquired 8,365 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were purchased at an average cost of $15.85 per share, with a total value of $132,585.25. Following the completion of the purchase, the director now owns 937,054 shares of the company’s stock, valued at $14,852,305.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders acquired 8,965 shares of company stock worth $142,323 over the last ninety days. Insiders own 0.45% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the business. IHT Wealth Management LLC lifted its stake in shares of Ares Capital by 33.5% in the second quarter. IHT Wealth Management LLC now owns 4,568 shares of the investment management company’s stock valued at $196,000 after buying an additional 1,147 shares in the last quarter. Penserra Capital Management LLC lifted its stake in shares of Ares Capital by 8.9% in the second quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock valued at $105,000 after buying an additional 526 shares in the last quarter. Hudock Capital Group LLC lifted its stake in shares of Ares Capital by 3.2% in the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock valued at $106,000 after buying an additional 200 shares in the last quarter. Ffcm LLC raised its holdings in shares of Ares Capital by 218.9% in the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock valued at $113,000 after purchasing an additional 4,695 shares during the last quarter. Finally, Legacy Advisors LLC purchased a new stake in shares of Ares Capital in the third quarter valued at about $128,000. 43.70% of the stock is currently owned by hedge funds and other institutional investors.
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Ares Capital Company Profile
Ares Capital Corporation is a specialty finance company. The Company operates as a closed-end, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests primarily in the United States middle-market companies.
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