Ares Capital (NASDAQ:ARCC - Free Report) had its price target boosted by UBS Group from $22.00 to $22.50 in a report released on Wednesday,Benzinga reports. UBS Group currently has a neutral rating on the investment management company's stock.
ARCC has been the topic of several other reports. Keefe, Bruyette & Woods dropped their target price on Ares Capital from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Royal Bank Of Canada dropped their target price on Ares Capital from $24.00 to $23.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company lifted their price objective on Ares Capital from $21.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, June 27th. Finally, B. Riley raised Ares Capital to a "hold" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.21.
Get Our Latest Analysis on ARCC
Ares Capital Stock Performance
Shares of Ares Capital stock traded down $0.01 during trading on Wednesday, hitting $23.25. 1,510,895 shares of the company's stock traded hands, compared to its average volume of 4,205,943. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.40 and a quick ratio of 1.40. Ares Capital has a 1 year low of $18.26 and a 1 year high of $23.84. The stock has a market capitalization of $16.14 billion, a P/E ratio of 11.34 and a beta of 0.67. The business has a 50-day simple moving average of $22.00 and a 200-day simple moving average of $22.00.
Ares Capital (NASDAQ:ARCC - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.54 by ($0.04). Ares Capital had a net margin of 43.50% and a return on equity of 11.05%. The business had revenue of $599.00 million for the quarter, compared to analysts' expectations of $769.32 million. During the same period last year, the business earned $0.59 earnings per share. The company's quarterly revenue was up 4.4% on a year-over-year basis. As a group, analysts forecast that Ares Capital will post 2.19 EPS for the current year.
Ares Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $1.92 dividend on an annualized basis and a yield of 8.26%. Ares Capital's dividend payout ratio is presently 93.66%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Community Trust & Investment Co. lifted its holdings in Ares Capital by 0.3% in the 2nd quarter. Community Trust & Investment Co. now owns 150,072 shares of the investment management company's stock worth $3,296,000 after purchasing an additional 454 shares in the last quarter. Prostatis Group LLC lifted its holdings in Ares Capital by 2.1% in the 1st quarter. Prostatis Group LLC now owns 21,768 shares of the investment management company's stock worth $482,000 after purchasing an additional 457 shares in the last quarter. World Investment Advisors lifted its holdings in Ares Capital by 4.1% in the 4th quarter. World Investment Advisors now owns 12,521 shares of the investment management company's stock worth $274,000 after purchasing an additional 488 shares in the last quarter. BankPlus Wealth Management LLC lifted its holdings in Ares Capital by 2.5% in the 1st quarter. BankPlus Wealth Management LLC now owns 19,809 shares of the investment management company's stock worth $439,000 after purchasing an additional 492 shares in the last quarter. Finally, Fiduciary Group LLC lifted its holdings in Ares Capital by 2.3% in the 4th quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company's stock worth $478,000 after purchasing an additional 500 shares in the last quarter. 27.38% of the stock is owned by hedge funds and other institutional investors.
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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