Ares Capital (NASDAQ:ARCC - Free Report) had its price objective increased by Royal Bank of Canada from $23.00 to $24.00 in a research note published on Friday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the investment management company's stock.
Several other research analysts also recently weighed in on ARCC. Keefe, Bruyette & Woods upped their target price on Ares Capital from $22.00 to $23.00 and gave the stock an "outperform" rating in a research note on Friday. Raymond James cut shares of Ares Capital from an "outperform" rating to a "market perform" rating in a research report on Thursday, February 6th. Wells Fargo & Company dropped their target price on shares of Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Thursday, February 6th. B. Riley upped their price target on shares of Ares Capital from $21.00 to $22.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Ares Capital has an average rating of "Moderate Buy" and a consensus target price of $22.94.
Read Our Latest Stock Analysis on Ares Capital
Ares Capital Stock Performance
Shares of ARCC traded down $0.17 during trading hours on Friday, hitting $22.70. The stock had a trading volume of 4,458,053 shares, compared to its average volume of 4,651,843. The firm has a market capitalization of $15.24 billion, a price-to-earnings ratio of 9.27 and a beta of 1.01. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.29 and a current ratio of 1.21. The firm has a 50-day moving average price of $22.42 and a 200 day moving average price of $21.55. Ares Capital has a fifty-two week low of $19.32 and a fifty-two week high of $23.84.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its earnings results on Wednesday, February 5th. The investment management company reported $0.55 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.03). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. As a group, research analysts anticipate that Ares Capital will post 2.2 EPS for the current year.
Ares Capital Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 8.46%. The ex-dividend date is Friday, March 14th. Ares Capital's dividend payout ratio is currently 78.37%.
Institutional Trading of Ares Capital
Several large investors have recently added to or reduced their stakes in ARCC. Generali Asset Management SPA SGR acquired a new stake in shares of Ares Capital during the 4th quarter worth approximately $84,426,000. International Assets Investment Management LLC increased its stake in Ares Capital by 2,104.7% during the third quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company's stock worth $756,620,000 after acquiring an additional 3,449,395 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Ares Capital in the fourth quarter valued at $58,159,000. Van ECK Associates Corp lifted its stake in shares of Ares Capital by 11.8% in the 4th quarter. Van ECK Associates Corp now owns 14,145,706 shares of the investment management company's stock valued at $309,649,000 after purchasing an additional 1,489,552 shares during the last quarter. Finally, CCLA Investment Management grew its holdings in shares of Ares Capital by 31.6% during the 4th quarter. CCLA Investment Management now owns 2,211,955 shares of the investment management company's stock worth $48,419,000 after purchasing an additional 531,305 shares during the period. 27.38% of the stock is currently owned by hedge funds and other institutional investors.
About Ares Capital
(
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Ares 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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