Ares Capital Co. (NASDAQ:ARCC - Get Free Report) shares rose 0.8% on Friday . The stock traded as high as $21.26 and last traded at $21.16. Approximately 913,040 shares were traded during trading, a decline of 78% from the average daily volume of 4,114,209 shares. The stock had previously closed at $21.00.
Wall Street Analyst Weigh In
A number of analysts have issued reports on ARCC shares. StockNews.com cut shares of Ares Capital from a "hold" rating to a "sell" rating in a research note on Friday, February 7th. Wells Fargo & Company reduced their price objective on shares of Ares Capital from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. lowered their target price 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. Raymond James downgraded Ares Capital from an "outperform" rating to a "market perform" rating in a research note on Thursday, February 6th. Finally, UBS Group reduced their price objective on shares of Ares Capital from $22.00 to $21.00 and set a "neutral" rating for the company in a research note on Thursday, April 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Ares Capital presently has an average rating of "Moderate Buy" and an average target price of $22.00.
View Our Latest Stock Report on Ares Capital
Ares Capital Trading Up 0.8%
The business has a 50-day moving average of $21.09 and a two-hundred day moving average of $21.89. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.03. The firm has a market capitalization of $15.01 billion, a price-to-earnings ratio of 8.88 and a beta of 0.70.
Ares Capital (NASDAQ:ARCC - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The investment management company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.04). Ares Capital had a return on equity of 11.54% and a net margin of 50.90%. The business had revenue of $599.00 million during the quarter, compared to analyst estimates of $769.32 million. During the same period last year, the company earned $0.59 EPS. The business's revenue for the quarter was up 4.4% on a year-over-year basis. Research analysts predict that Ares Capital Co. will post 2.19 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be paid a $0.48 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.82%. Ares Capital's dividend payout ratio is presently 93.66%.
Institutional Investors Weigh In On Ares Capital
A number of hedge funds have recently made changes to their positions in the company. Cyndeo Wealth Partners LLC grew its stake in Ares Capital by 2.3% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,148 shares of the investment management company's stock worth $419,000 after buying an additional 430 shares during the last quarter. World Investment Advisors boosted its holdings in shares of 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 acquiring an additional 488 shares in the last quarter. BankPlus Wealth Management LLC grew its position in Ares Capital by 2.5% during the 1st quarter. BankPlus Wealth Management LLC now owns 19,809 shares of the investment management company's stock worth $439,000 after acquiring an additional 492 shares during the last quarter. Fiduciary Group LLC increased its holdings in Ares Capital by 2.3% during the 4th quarter. Fiduciary Group LLC now owns 21,851 shares of the investment management company's stock valued at $478,000 after purchasing an additional 500 shares in the last quarter. Finally, Sheaff Brock Investment Advisors LLC increased its holdings in Ares Capital by 0.9% during the 4th quarter. Sheaff Brock Investment Advisors LLC now owns 56,182 shares of the investment management company's stock valued at $1,230,000 after purchasing an additional 512 shares in the last quarter. Institutional investors and hedge funds 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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