Compass Point assumed coverage on shares of Ares Capital (NASDAQ:ARCC) in a research note released on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $17.50 price target on the investment management company’s stock.
Several other brokerages have also recently weighed in on ARCC. Keefe, Bruyette & Woods set a $19.00 price target on Ares Capital and gave the company a buy rating in a research report on Friday, October 6th. BidaskClub cut Ares Capital from a sell rating to a strong sell rating in a research report on Tuesday, August 8th. Zacks Investment Research cut Ares Capital from a hold rating to a sell rating in a research report on Tuesday, October 3rd. Wedbush began coverage on Ares Capital in a research report on Monday, November 27th. They issued an outperform rating and a $18.00 price target for the company. Finally, TheStreet cut Ares Capital from a b rating to a c+ rating in a research report on Monday, November 13th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. Ares Capital currently has a consensus rating of Buy and an average target price of $18.00.
Ares Capital (ARCC) opened at $16.42 on Wednesday. The firm has a market capitalization of $6,999.83, a price-to-earnings ratio of 11.40, a PEG ratio of 3.97 and a beta of 0.63. 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 current ratio of 1.29 and a quick ratio of 1.29.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The company had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $295.02 million. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. During the same period in the previous year, the business earned $0.43 earnings per share. analysts anticipate that Ares Capital will post 1.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 9.26%. The ex-dividend date is Thursday, December 14th. Ares Capital’s dividend payout ratio is 119.69%.
In other Ares Capital news, Director Michael J. Arougheti acquired 8,365 shares of the company’s stock in a transaction that occurred on Friday, November 3rd. The stock was bought at an average price 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 8,965 shares of company stock valued at $142,323 in the last three months. 0.45% of the stock is owned by corporate insiders.
Large investors have recently bought and sold shares of the stock. IHT Wealth Management LLC boosted its stake in Ares Capital by 33.5% during 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 during the period. Penserra Capital Management LLC lifted its stake in Ares Capital by 8.9% during the second quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock worth $105,000 after purchasing an additional 526 shares during the last quarter. Hudock Capital Group LLC lifted its stake in Ares Capital by 3.2% during the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock worth $106,000 after purchasing an additional 200 shares during the last quarter. Ffcm LLC lifted its stake in Ares Capital by 218.9% during the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock worth $113,000 after purchasing an additional 4,695 shares during the last quarter. Finally, Legacy Advisors LLC bought a new stake in Ares Capital during the third quarter worth about $128,000. 43.70% of the stock is owned by 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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