Shares of Ares Capital Co. (NASDAQ:ARCC) have received an average recommendation of “Buy” from the thirteen brokerages that are covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.00.
Several research firms have recently issued reports on ARCC. Zacks Investment Research upgraded Ares Capital from a “sell” rating to a “hold” rating in a research report on Thursday, February 15th. Oppenheimer set a $18.00 price target on Ares Capital and gave the stock a “buy” rating in a research report on Tuesday, February 13th. National Securities restated a “buy” rating and issued a $19.00 price target on shares of Ares Capital in a research report on Thursday, February 15th. BidaskClub upgraded Ares Capital from a “strong sell” rating to a “sell” rating in a research report on Monday, February 5th. Finally, Jefferies Group restated a “buy” rating and issued a $19.50 price target on shares of Ares Capital in a research report on Friday, November 3rd.
Ares Capital (NASDAQ:ARCC) traded up $0.05 during midday trading on Wednesday, hitting $15.90. The stock had a trading volume of 994,033 shares, compared to its average volume of 2,140,000. The firm has a market cap of $6,800.00, a PE ratio of 10.13, a P/E/G ratio of 3.39 and a beta of 0.62. Ares Capital has a one year low of $15.03 and a one year high of $17.87. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.04 and a quick ratio of 1.04.
Ares Capital (NASDAQ:ARCC) last posted its quarterly earnings results on Tuesday, February 13th. The investment management company reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.01. Ares Capital had a return on equity of 8.43% and a net margin of 57.50%. The business had revenue of $307.00 million for the quarter, compared to analyst estimates of $301.38 million. During the same period last year, the company earned $0.42 EPS. The firm’s revenue was up 17.6% on a year-over-year basis. equities research analysts forecast that Ares Capital will post 1.56 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.52 annualized dividend and a yield of 9.56%. Ares Capital’s dividend payout ratio is presently 96.82%.
In other Ares Capital news, CFO Penelope F. Roll bought 3,000 shares of Ares Capital stock in a transaction on Thursday, February 15th. The shares were purchased at an average cost of $15.81 per share, for a total transaction of $47,430.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have acquired 3,400 shares of company stock worth $53,818. Corporate insiders own 0.45% of the company’s stock.
A number of hedge funds have recently bought and sold shares of ARCC. Alliancebernstein L.P. lifted its holdings in Ares Capital by 7.1% during the second quarter. Alliancebernstein L.P. now owns 60,050 shares of the investment management company’s stock worth $984,000 after acquiring an additional 3,970 shares in the last quarter. Alpha Windward LLC lifted its holdings in Ares Capital by 4,144.7% during the third quarter. Alpha Windward LLC now owns 29,925 shares of the investment management company’s stock worth $490,000 after acquiring an additional 29,220 shares in the last quarter. Advisors Capital Management LLC lifted its holdings in Ares Capital by 1.7% during the third quarter. Advisors Capital Management LLC now owns 1,524,355 shares of the investment management company’s stock worth $24,985,000 after acquiring an additional 26,059 shares in the last quarter. Westbourne Investment Advisors Inc. lifted its holdings in Ares Capital by 5.8% during the third quarter. Westbourne Investment Advisors Inc. now owns 151,664 shares of the investment management company’s stock worth $2,486,000 after acquiring an additional 8,290 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in Ares Capital by 1.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 5,970,937 shares of the investment management company’s stock worth $97,864,000 after acquiring an additional 93,695 shares in the last quarter. Hedge funds and other institutional investors own 42.46% of the company’s stock.
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About Ares Capital
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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