Shares of Ares Capital Co. (NASDAQ:ARCC - Get Free Report) rose 1.1% on Thursday . The company traded as high as $21.01 and last traded at $21.01. Approximately 582,253 shares were traded during trading, a decline of 86% from the average daily volume of 4,102,320 shares. The stock had previously closed at $20.79.
Analyst Ratings Changes
Several research firms have recently issued reports on ARCC. Royal Bank of Canada lowered their price target on Ares Capital from $24.00 to $23.00 and set an "outperform" rating for the company in a research report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on Ares Capital from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Tuesday, April 8th. UBS Group dropped their price target on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating on the stock in a report on Thursday, April 17th. JPMorgan Chase & Co. lowered their price objective on shares of Ares Capital from $24.50 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Wells Fargo & Company lowered their price target on Ares Capital from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.
Get Our Latest Stock Report on ARCC
Ares Capital Price Performance
The firm has a 50 day moving average price of $21.19 and a 200 day moving average price of $21.90. The stock has a market cap of $14.48 billion, a P/E ratio of 8.57 and a beta of 0.70. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03.
Ares Capital (NASDAQ:ARCC - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.54 by ($0.04). The firm had revenue of $599.00 million for the quarter, compared to analysts' expectations of $769.32 million. Ares Capital had a net margin of 50.90% and a return on equity of 11.54%. Ares Capital's revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 EPS. On average, analysts forecast that Ares Capital Co. will post 2.19 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be given a $0.48 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.92 annualized dividend and a dividend yield of 9.14%. Ares Capital's payout ratio is 93.66%.
Institutional Trading of Ares Capital
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. World Investment Advisors LLC bought a new stake in Ares Capital in the 3rd quarter valued at $252,000. Tidal Investments LLC lifted its holdings in shares of Ares Capital by 6.2% in the 3rd quarter. Tidal Investments LLC now owns 63,385 shares of the investment management company's stock valued at $1,327,000 after acquiring an additional 3,726 shares during the last quarter. Franklin Resources Inc. grew its position in Ares Capital by 24.3% in the third quarter. Franklin Resources Inc. now owns 650,163 shares of the investment management company's stock worth $13,900,000 after acquiring an additional 127,219 shares in the last quarter. CWA Asset Management Group LLC increased its stake in Ares Capital by 6.3% during the fourth quarter. CWA Asset Management Group LLC now owns 11,329 shares of the investment management company's stock worth $248,000 after acquiring an additional 670 shares during the last quarter. Finally, Worth Asset Management LLC lifted its stake in shares of Ares Capital by 22.5% in the 4th quarter. Worth Asset Management LLC now owns 15,918 shares of the investment management company's stock valued at $348,000 after purchasing an additional 2,927 shares during the last quarter. Institutional investors own 27.38% of the company's stock.
About Ares Capital
(
Get Free Report)
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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