Ares Capital Co. (NASDAQ:ARCC - Free Report) - Investment analysts at B. Riley lifted their Q3 2024 earnings per share estimates for Ares Capital in a research report issued on Wednesday, July 31st. B. Riley analyst B. Rowe now expects that the investment management company will post earnings per share of $0.60 for the quarter, up from their prior estimate of $0.57. The consensus estimate for Ares Capital's current full-year earnings is $2.36 per share.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its earnings results on Tuesday, July 30th. The investment management company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.03. The firm had revenue of $755.00 million for the quarter, compared to analyst estimates of $714.27 million. Ares Capital had a return on equity of 12.53% and a net margin of 59.76%. During the same period in the previous year, the company earned $0.58 earnings per share.
Other equities analysts have also issued research reports about the company. Compass Point upgraded Ares Capital to a "strong-buy" rating in a research report on Tuesday. Truist Financial raised their price objective on Ares Capital from $22.00 to $23.00 and gave the stock a "buy" rating in a research report on Thursday, May 2nd. JMP Securities raised their price objective on Ares Capital from $21.00 to $22.00 and gave the stock a "market outperform" rating in a research report on Tuesday. Oppenheimer lifted their price target on Ares Capital from $21.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their price target on Ares Capital from $21.50 to $22.00 and gave the company an "overweight" rating in a report on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $21.71.
View Our Latest Stock Report on ARCC
Ares Capital Price Performance
NASDAQ:ARCC traded down $0.54 during mid-day trading on Friday, reaching $20.29. 6,908,405 shares of the stock were exchanged, compared to its average volume of 3,443,854. The business has a fifty day moving average price of $21.02 and a 200 day moving average price of $20.66. The firm has a market capitalization of $12.79 billion, a PE ratio of 6.95 and a beta of 1.01. Ares Capital has a 1-year low of $18.55 and a 1-year high of $21.84. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.99.
Ares Capital Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.46%. The ex-dividend date is Thursday, September 12th. Ares Capital's payout ratio is 65.75%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Jamison Private Wealth Management Inc. raised its stake in shares of Ares Capital by 62.7% in the 2nd quarter. Jamison Private Wealth Management Inc. now owns 1,233 shares of the investment management company's stock valued at $26,000 after acquiring an additional 475 shares in the last quarter. Nemes Rush Group LLC bought a new position in Ares Capital in the 4th quarter worth approximately $25,000. Valley National Advisers Inc. increased its position in Ares Capital by 323.3% in the 1st quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company's stock worth $29,000 after buying an additional 1,096 shares during the period. Pingora Partners LLC bought a new position in Ares Capital in the 4th quarter worth approximately $30,000. Finally, Hobbs Group Advisors LLC bought a new position in Ares Capital in the 2nd quarter worth approximately $32,000. 27.38% of the stock is owned by 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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