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Ares Capital (NASDAQ:ARCC) Stock Price Up 0.4%

Ares Capital logo with Finance background

Ares Capital Co. (NASDAQ:ARCC - Get Free Report)'s share price shot up 0.4% during trading on Monday . The company traded as high as $20.70 and last traded at $20.67. 882,979 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 3,543,545 shares. The stock had previously closed at $20.58.

Analysts Set New Price Targets

A number of analysts recently weighed in on ARCC shares. Truist Financial increased their price target on shares of Ares Capital from $22.00 to $23.00 and gave the stock a "buy" rating in a research note on Thursday, May 2nd. Oppenheimer raised their price target on Ares Capital from $21.00 to $22.00 and gave the stock an "outperform" rating in a report on Thursday, May 2nd. JMP Securities restated a "market outperform" rating and issued a $21.00 price target on shares of Ares Capital in a research report on Tuesday, March 26th. JPMorgan Chase & Co. increased their price target on Ares Capital from $21.50 to $22.00 and gave the stock an "overweight" rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $22.00 target price on shares of Ares Capital in a research note on Thursday, May 23rd. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Ares Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.50.

Read Our Latest Report on ARCC

Ares Capital Stock Up 0.4 %

The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.99. The firm's fifty day simple moving average is $21.01 and its 200-day simple moving average is $20.50. The company has a market cap of $12.70 billion, a PE ratio of 7.08 and a beta of 1.00.


Ares Capital (NASDAQ:ARCC - Get Free Report) last released its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.60 by ($0.01). The firm had revenue of $701.00 million during the quarter, compared to analysts' expectations of $703.85 million. Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. Ares Capital's revenue for the quarter was up 13.4% on a year-over-year basis. During the same quarter last year, the company posted $0.56 earnings per share. As a group, equities research analysts expect that Ares Capital Co. will post 2.34 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.29%. The ex-dividend date is Friday, June 14th. Ares Capital's payout ratio is 65.75%.

Institutional Investors Weigh In On Ares Capital

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. increased its position in shares of Ares Capital by 5.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 582,578 shares of the investment management company's stock worth $12,129,000 after acquiring an additional 29,671 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in Ares Capital by 5.5% in the 4th quarter. Chicago Partners Investment Group LLC now owns 389,236 shares of the investment management company's stock valued at $7,913,000 after purchasing an additional 20,202 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its position in Ares Capital by 614.8% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 7,198 shares of the investment management company's stock valued at $144,000 after purchasing an additional 6,191 shares during the period. NewEdge Wealth LLC acquired a new position in shares of Ares Capital during the fourth quarter worth about $1,497,000. Finally, Anchor Investment Management LLC purchased a new stake in shares of Ares Capital in the fourth quarter worth about $123,000. 27.38% of the stock is currently owned by institutional investors and hedge funds.

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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