Ares Capital Co. (NASDAQ:ARCC - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the nine research firms that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $21.86.
A number of equities analysts recently weighed in on the stock. B. Riley boosted their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. UBS Group upgraded shares of Ares Capital to a "hold" rating in a research note on Friday, August 23rd. Royal Bank of Canada restated an "outperform" rating and set a $22.00 price target on shares of Ares Capital in a research note on Monday, August 5th. Finally, StockNews.com upgraded Ares Capital from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th.
Read Our Latest Stock Report on Ares Capital
Ares Capital Stock Performance
Shares of Ares Capital stock traded up $0.14 during mid-day trading on Friday, hitting $22.15. 2,812,726 shares of the stock were exchanged, compared to its average volume of 3,703,123. Ares Capital has a 12 month low of $19.32 and a 12 month high of $22.21. The company has a 50-day simple moving average of $21.38 and a 200 day simple moving average of $21.07. The company has a market capitalization of $14.31 billion, a P/E ratio of 8.52 and a beta of 1.01. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.29 and a current ratio of 1.29.
Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.01). The business had revenue of $755.00 million for the quarter, compared to the consensus estimate of $770.45 million. Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The business's revenue was up 15.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 earnings per share. Sell-side analysts anticipate that Ares Capital will post 2.36 earnings per share for the current fiscal year.
Ares Capital Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, December 30th. Stockholders of record on Friday, December 13th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.67%. The ex-dividend date is Friday, December 13th. Ares Capital's dividend payout ratio is presently 73.85%.
Hedge Funds Weigh In On Ares Capital
Several hedge funds have recently bought and sold shares of ARCC. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Ares Capital by 4.6% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 885,406 shares of the investment management company's stock worth $18,540,000 after purchasing an additional 38,559 shares during the period. Confluence Investment Management LLC increased its stake in Ares Capital by 1.7% in the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company's stock worth $80,338,000 after acquiring an additional 63,999 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Ares Capital by 32.5% in the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 211,797 shares of the investment management company's stock valued at $4,435,000 after acquiring an additional 52,007 shares in the last quarter. SteelPeak Wealth LLC boosted its position in shares of Ares Capital by 151.4% during the 2nd quarter. SteelPeak Wealth LLC now owns 45,698 shares of the investment management company's stock valued at $952,000 after acquiring an additional 27,523 shares during the last quarter. Finally, Sigma Investment Counselors Inc. grew its holdings in shares of Ares Capital by 4.6% during the third quarter. Sigma Investment Counselors Inc. now owns 681,724 shares of the investment management company's stock worth $14,275,000 after purchasing an additional 29,786 shares in the last quarter. Hedge funds and other institutional investors own 27.38% of the company's stock.
About Ares Capital
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Get Free ReportAres Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.
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