Ares Capital Co. (NASDAQ:ARCC - Get Free Report) reached a new 52-week low on Monday . The company traded as low as $18.60 and last traded at $18.73, with a volume of 4189302 shares. The stock had previously closed at $19.97.
Analyst Ratings Changes
Several equities research analysts recently issued reports on ARCC shares. Wells Fargo & Company lowered their price objective on Ares Capital from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Thursday, February 6th. JPMorgan Chase & Co. upped their target price on shares of Ares Capital from $23.00 to $24.50 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Keefe, Bruyette & Woods decreased their price target on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday. Royal Bank of Canada boosted their price objective on Ares Capital from $23.00 to $24.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Raymond James cut shares of Ares Capital from an "outperform" rating to a "market perform" rating in a report on Thursday, February 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.81.
Read Our Latest Stock Analysis on Ares Capital
Ares Capital Trading Up 0.4 %
The business's fifty day simple moving average is $22.19 and its two-hundred day simple moving average is $21.98. The company has a current ratio of 1.21, a quick ratio of 1.21 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $13.63 billion, a P/E ratio of 8.13 and a beta of 0.77.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The investment management company reported $0.55 earnings per share 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, analysts forecast that Ares Capital Co. will post 2.19 earnings per share for the current year.
Ares Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Friday, March 14th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 9.64%. The ex-dividend date was Friday, March 14th. Ares Capital's dividend payout ratio (DPR) is presently 78.37%.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Montag & Caldwell LLC acquired a new stake in shares of Ares Capital during the fourth quarter valued at about $33,000. VSM Wealth Advisory LLC bought a new position in Ares Capital in the 4th quarter valued at approximately $35,000. Promus Capital LLC acquired a new stake in Ares Capital during the 4th quarter worth approximately $48,000. SRS Capital Advisors Inc. bought a new stake in Ares Capital during the 4th quarter worth approximately $60,000. Finally, Montag A & Associates Inc. increased its position in Ares Capital by 92.6% in the 4th quarter. Montag A & Associates Inc. now owns 2,889 shares of the investment management company's stock valued at $63,000 after acquiring an additional 1,389 shares during the period. Institutional investors own 27.38% of the company's stock.
Ares Capital Company Profile
(
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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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