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. It may from time to time invest in larger or smaller (in particular, for investments in early-stage and/or venture capital-backed) companies. It invests primarily in first lien senior secured loans (including unitranche loans, which are loans that combine both senior and mezzanine debt, generally in a first lien position), second lien senior secured loans, and mezzanine debt, which in some cases includes an equity component. It invests in various industries, such as automotive services, business services, consumer products, and containers and packaging. Ares Capital Management LLC serves as its investment advisor.
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Closed End Funds
- Sub-Industry: Asset Management & Custody Banks
- Symbol: NASDAQ:ARCC
- CUSIP: 04010L10
- Web: www.arescapitalcorp.com
- 50 Day Moving Avg: $16.61
- 200 Day Moving Avg: $16.99
- 52 Week Range: $13.85 - $17.87
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 9.80
- P/E Growth: 3.71
- Annual Dividend: $1.52
- Dividend Yield: 9.3%
- Net Margins: 44.29%
- Return on Equity: 9.32%
- Return on Assets: 5.33%
- Debt-to-Equity Ratio: 0.65%
- Current Ratio: 1.22%
- Quick Ratio: 1.22%
- Average Volume: 1.94 million shs.
- Beta: 0.66
Frequently Asked Questions for Ares Capital Corporation (NASDAQ:ARCC)
What is Ares Capital Corporation's stock symbol?
Ares Capital Corporation trades on the NASDAQ under the ticker symbol "ARCC."
How often does Ares Capital Corporation pay dividends? What is the dividend yield for Ares Capital Corporation?
Ares Capital Corporation declared a quarterly dividend on Wednesday, May 3rd. Shareholders of record on Thursday, June 15th will be paid a dividend of $0.38 per share on Friday, June 30th. This represents a $1.52 annualized dividend and a yield of 9.35%. The ex-dividend date is Tuesday, June 13th. View Ares Capital Corporation's Dividend History.
How will Ares Capital Corporation's stock buyback program work?
Ares Capital Corporation declared that its board has initiated a stock repurchase plan on Friday, April 7th 2017, which allows the company to repurchase $300,000,000.00 in outstanding shares, according to EventVestor. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.
How were Ares Capital Corporation's earnings last quarter?
Ares Capital Corporation (NASDAQ:ARCC) issued its quarterly earnings data on Wednesday, May, 3rd. The company reported $0.32 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.36 by $0.04. The firm had revenue of $275 million for the quarter, compared to analysts' expectations of $294.92 million. Ares Capital Corporation had a net margin of 44.29% and a return on equity of 9.32%. During the same quarter last year, the business posted $0.42 earnings per share. View Ares Capital Corporation's Earnings History.
When will Ares Capital Corporation make its next earnings announcement?
Where is Ares Capital Corporation's stock going? Where will Ares Capital Corporation's stock price be in 2017?
9 brokerages have issued twelve-month target prices for Ares Capital Corporation's shares. Their predictions range from $15.00 to $19.50. On average, they anticipate Ares Capital Corporation's stock price to reach $17.81 in the next year. View Analyst Ratings for Ares Capital Corporation.
What are analysts saying about Ares Capital Corporation stock?
Here are some recent quotes from research analysts about Ares Capital Corporation stock:
- 1. National Securities analysts commented, "• Ares missed significantly on core NII/share for the quarter at $0.32 versus consensus estimates of $0.38 and our estimate of $0.39. The miss was driven by lower fee income combined with a substantial increase in shares outstanding from the ACAS acquisition which officially closed during the quarter.
• We are upgrading shares to BUY from NEUTRAL and increasing our price target to $19 from $18 on what we see as greater visibility into the combined company and a strategy which we expect management to execute on which should drive core NII growth. The negative reaction to the earnings last week provides a favorable entry point, in our opinion, and is more indicative of the market having a short-term view rather than looking at the big picture. Ares has a track record of large acquisitions and successful integration and we expect this will be the case with ACAS, the company will be able to write large checks and likely command favorable pricing in the upper middle market, the sale and recycling of ACAS assets into ARCC originations will increase portfolio yields significantly and drive earnings growth as we see it. Our $19 price target reflects a 14% premium to our 4Q18 NAV/share estimate of $16.83.
• We are revising our 2017 core NII/share estimate to $1.59 from $1.64 and our 2018 core NII/share estimate to $1.72 from $1.68.
- 2. Jefferies Group LLC analysts commented, "ARCC reported core NOI per share of $0.42 ahead of our estimate, as another quarter of larger transactions/syndications drove elevated fee income. ARCC remains selective, acknowledging the ongoing competitive environment. We remain favorable on ARCC given numerous earnings tailwinds including rising rates, ACAS integration and the wind-down of the SSLP, which should ease yield headwinds. We maintain our Buy rating and increase our PT to $19.50." (2/23/2017)
- 3. According to Zacks Investment Research, "ARES CAPITAL CORPORATION is a specialty finance company that is a closed-end, non-diversified management investment company. Ares Capital Corporation has elected to be regulated as a business development company under the Investment Company Act of 1940. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. Ares Capital Corporation invests primarily in first and second lien senior loans and mezzanine debt, which in some cases includes an equity component, and, to a lesser extent, in equity investments in private U.S. middle market companies. " (2/6/2017)
Who are some of Ares Capital Corporation's key competitors?
Some companies that are related to Ares Capital Corporation include 3i Infrastructure PLC (3IN), Hercules Capital (HTGC), Triangle Capital Corporation (TCAP), Ithaca Energy (IAE), Foresight Solar Fund Ltd (FSFL), TICC Capital Corp. (TICC), KCAP Financial (KCAP), GLI Finance Ltd (GLIF), Andalas Energy and Power PLC (ADL), Alcentra Capital Corp. (ABDC), American Capital Senior Floating (ACSF), Andalas Energy and Power PLC (CEB), Apollo Investment Corporation (AINV), BlackRock Capital Investment Corporation (BKCC), BlackRock Enhanced Global Dividend Trust (BOE), BlackRock LT Municipal Advantage Trust (BTA), Blackrock Taxable Municipal Bond Trust (BBN) and Capitala Finance Corp. (CPTA).
Who are Ares Capital Corporation's key executives?
Ares Capital Corporation's management team includes the folowing people:
- Michael J. Arougheti, Co-Chairman of the Board
- Bennett Rosenthal, Co-Chairman of the Board
- Mitchell Goldstein, Co-President
- Michael L. Smith, Co-President
- R. Kipp deVeer III, Chief Executive Officer, Director
- Penelope F. Roll, Chief Financial Officer
- Scott C. Lem, Chief Accounting Officer, Vice President, Treasurer
- Miriam G. Krieger, Chief Compliance Officer
- Joshua M. Bloomstein, Vice President, General Counsel, Secretary
- Michael R. McFerran, Vice President, Assistant Treasurer
Who owns Ares Capital Corporation stock?
Ares Capital Corporation's stock is owned by a number of of retail and institutional investors. Top institutional investors include Thornburg Investment Management Inc. (0.00%), Muzinich & Co. Inc. (0.00%), FMR LLC (0.00%), Ameriprise Financial Inc. (0.00%), Confluence Investment Management LLC (0.00%) and Edge Asset Management Inc. (0.00%). Company insiders that own Ares Capital Corporation stock include Bates Ann Torre, Michael J Arougheti, Mitchell S Goldstein, Penelope F Roll, R Kipp Deveer, Scott C Lem, Steve Bartlett and Steven B Mckeever. View Institutional Ownership Trends for Ares Capital Corporation.
Who sold Ares Capital Corporation stock? Who is selling Ares Capital Corporation stock?
Ares Capital Corporation's stock was sold by a variety of institutional investors in the last quarter, including Pioneer Investment Management Inc., Palisade Capital Management LLC NJ, Advisors Capital Management LLC, State of New Jersey Common Pension Fund D, Henderson Group PLC, Brant Point Investment Management LLC, Segall Bryant & Hamill LLC and Quantitative Investment Management LLC. View Insider Buying and Selling for Ares Capital Corporation.
Who bought Ares Capital Corporation stock? Who is buying Ares Capital Corporation stock?
Ares Capital Corporation's stock was purchased by a variety of institutional investors in the last quarter, including Muzinich & Co. Inc., Toronto Dominion Bank, Bank of Montreal Can, Columbia Wanger Asset Management LLC, Ares Management LLC, Clearbridge Investments LLC, Neuberger Berman Group LLC and Van ECK Associates Corp. Company insiders that have bought Ares Capital Corporation stock in the last two years include Bates Ann Torre, Michael J Arougheti, Mitchell S Goldstein, Penelope F Roll, R Kipp Deveer, Scott C Lem, Steve Bartlett and Steven B Mckeever. View Insider Buying and Selling for Ares Capital Corporation.
How do I buy Ares Capital Corporation stock?
Shares of Ares Capital Corporation can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Ares Capital Corporation's stock price today?
MarketBeat Community Rating for Ares Capital Corporation (NASDAQ ARCC)MarketBeat's community ratings are surveys of what our community members think about Ares Capital Corporation and other stocks. Vote "Outperform" if you believe the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Ares Capital Corporation stock can currently be purchased for approximately $16.26.
Consensus Ratings for Ares Capital Corporation (NASDAQ:ARCC) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||2 Hold Ratings, 7 Buy Ratings|
|Consensus Rating:||Buy (Score: 2.78)|
|Consensus Price Target: ||$17.81 (9.55% upside)|
Analysts' Ratings History for Ares Capital Corporation (NASDAQ:ARCC)
(Data available from 6/27/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|6/16/2017||Keefe, Bruyette & Woods||Reiterated Rating||Buy||$18.50||Low|
|6/1/2017||BMO Capital Markets||Reiterated Rating||Hold||$15.00||Low|
|5/15/2017||Janney Montgomery Scott||Reiterated Rating||Neutral||N/A|
|5/8/2017||National Securities||Upgrade||Neutral -> Buy||$18.00 -> $19.00||Low|
|4/7/2017||Jefferies Group LLC||Reiterated Rating||Buy||$19.50||Low|
|3/6/2017||Citigroup Inc.||Boost Price Target||Buy||$16.00 -> $19.00||N/A|
|1/8/2017||Barclays PLC||Set Price Target||Buy||$18.00||N/A|
|1/4/2017||Wells Fargo & Company||Reiterated Rating||Buy||N/A|
|11/3/2016||JMP Securities||Reiterated Rating||Buy||N/A|
|2/24/2016||Cantor Fitzgerald||Reiterated Rating||Hold||$16.00||N/A|
|10/1/2015||Macquarie||Upgrade||Neutral -> Outperform||$17.00||N/A|
|9/30/2015||DA Davidson||Initiated Coverage||Buy||$17.00||N/A|
|8/28/2015||Raymond James Financial, Inc.||Upgrade||Market Perform -> Outperform||$17.00||N/A|
Earnings History for Ares Capital Corporation (NASDAQ:ARCC)Earnings History by Quarter for Ares Capital Corporation (NASDAQ ARCC)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|8/1/2017|| || || || || || || || |
|5/3/2017||Q1 2017||$0.36||$0.32||$294.92 million||$275.00 million||View||Listen|
|2/22/2017||Q416||$0.39||$0.42||$247.12 million||$261.00 million||View||Listen|
|11/2/2016||Q316||$0.38||$0.43||$246.06 million||$258.67 million||View||N/A|
|8/3/2016||Q216||$0.38||$0.39||$250.86 million||$245.26 million||View||N/A|
|5/4/2016||Q116||$0.39||$0.37||$255.19 million||$248.00 million||View||N/A|
|2/24/2016||Q415||$0.39||$0.40||$256.30 million||$261.68 million||View||Listen|
|11/4/2015||Q315||$0.38||$0.41||$253.36 million||$260.95 million||View||N/A|
|8/4/2015||Q215||$0.38||$0.37||$246.24 million||$249.48 million||View||N/A|
|5/4/2015||Q1 2015||$0.39||$0.37||$259.60 million||$253.25 million||View||N/A|
|2/26/2015||Q414||$0.39||$0.42||$263.78 million||$270.92 million||View||N/A|
|11/4/2014||Q414||$0.38||$0.40||$248.25 million||$253.40 million||View||N/A|
|8/5/2014||Q314||$0.37||$0.34||$231.50 million||$224.92 million||View||N/A|
|5/6/2014||Q214||$0.39||$0.38||$230.70 million||$239.70 million||View||N/A|
|8/6/2013||Q2 2013||$0.39||$0.38||$200.63 million||View||N/A|
|5/7/2013||Q1 2013||$0.40||$0.38||$194.41 million||View||N/A|
|2/27/2013||Q4 2012||$0.41||$0.45||$197.05 million||View||N/A|
Earnings Estimates for Ares Capital Corporation (NASDAQ:ARCC)
2017 EPS Consensus Estimate: $1.52
2018 EPS Consensus Estimate: $1.63
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Ares Capital Corporation (NASDAQ:ARCC)
|Payout Ratio:||110.95% (Trailing 12 Months of Earnings) |
103.40% (Based on This Year's Estimates)
91.57% (Based on Next Year's Estimates)
Dividend History by Quarter for Ares Capital Corporation (NASDAQ ARCC)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Ares Capital Corporation (NASDAQ:ARCC)
Insider Ownership Percentage: 0.45%Insider Trades by Quarter for Ares Capital Corporation (NASDAQ:ARCC)
Institutional Ownership Percentage: 48.53%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|6/22/2017||Steve Bartlett||Director||Buy||200||$16.21||$3,242.00|| |
|3/16/2017||Steve Bartlett||Director||Buy||200||$17.29||$3,458.00|| |
|12/20/2016||Steve Bartlett||Director||Buy||200||$16.00||$3,200.00|| |
|11/21/2016||Steve Bartlett||Director||Buy||200||$15.78||$3,156.00|| |
|10/20/2016||Steve Bartlett||Director||Buy||200||$15.37||$3,074.00|| |
|9/20/2016||Steve Bartlett||Director||Buy||200||$15.60||$3,120.00|| |
|8/22/2016||Steve Bartlett||Director||Buy||200||$15.72||$3,144.00|| |
|8/15/2016||Mitchell S Goldstein||Insider||Buy||6,472||$15.45||$99,992.40|| |
|7/20/2016||Steve Bartlett||Director||Buy||200||$14.77||$2,954.00|| |
|6/20/2016||Steve Bartlett||Director||Buy||200||$14.20||$2,840.00|| |
|5/20/2016||Steve Bartlett||Director||Buy||200||$15.12||$3,024.00|| |
|4/20/2016||Steve Bartlett||Director||Buy||200||$15.05||$3,010.00|| |
|3/21/2016||Steve Bartlett||Director||Buy||200||$14.26||$2,852.00|| |
|3/11/2016||R. Kipp Deveer||CEO||Buy||40,000||$13.90||$556,000.00|| |
|3/8/2016||Scott C Lem||CAO||Buy||1,800||$14.00||$25,200.00|| |
|2/26/2016||Michael J Arougheti||EVP||Buy||90,000||$13.55||$1,219,500.00|| |
|2/25/2016||Mitchell S Goldstein||Insider||Buy||19,200||$12.97||$249,024.00|| |
|2/22/2016||Steve Bartlett||Director||Buy||100||$12.85||$1,285.00|| |
|1/20/2016||Steve Bartlett||Director||Buy||100||$13.20||$1,320.00|| |
|12/21/2015||Steve Bartlett||Director||Buy||100||$14.08||$1,408.00|| |
|9/14/2015||Bates Ann Torre||Director||Buy||8,126||$14.87||$120,833.62|| |
|8/24/2015||Penelope F Roll||CFO||Buy||7,500||$15.22||$114,150.00|| |
|8/14/2015||Steven B Mckeever||Director||Buy||1,835||$16.13||$29,598.55|| |
|3/12/2015||Robert L Rosen||Director||Buy||7,500||$16.77||$125,775.00|| |
|3/6/2015||Robert L Rosen||Director||Buy||5,000||$17.57||$87,850.00|| |
|3/4/2015||Robert L Rosen||Director||Buy||7,500||$17.41||$130,575.00|| |
|1/20/2015||Steve Bartlett||Director||Buy||100||$15.97||$1,597.00|| |
|12/15/2014||Penelope F Roll||CFO||Buy||2,000||$15.04||$30,080.00|| |
|12/4/2014||Scott C Lem||CAO||Buy||1,250||$16.00||$20,000.00|| |
|11/26/2014||Scott C Lem||CAO||Buy||1,225||$16.33||$20,004.25|| |
|11/5/2014||Joshua M Bloomstein||VP||Buy||2,500||$16.20||$40,500.00|| |
|11/5/2014||Michael J Arougheti||EVP||Buy||60,000||$16.20||$972,000.00|| |
|11/5/2014||Penelope F Roll||CFO||Buy||3,000||$16.14||$48,420.00|| |
|8/7/2014||R. Kipp Deveer||CEO||Buy||10,000||$16.51||$165,100.00|| |
|8/7/2014||Scott C Lem||CAO||Buy||1,462||$16.97||$24,810.14|| |
|8/6/2014||Joshua M Bloomstein||VP||Buy||1,500||$16.41||$24,615.00|| |
|8/6/2014||Penelope F Roll||CFO||Buy||6,000||$16.43||$98,580.00|| |
|8/6/2014||Scott C Lem||CAO||Buy||300||$16.48||$4,944.00|| |
|5/30/2014||Scott C Lem||CAO||Buy||287||$17.24||$4,947.88|| |
|5/16/2014||Scott C Lem||CAO||Buy||300||$16.81||$5,043.00|| |
|5/15/2014||Michael Lewis Smith||EVP||Buy||10,000||$16.75||$167,500.00|| |
|5/13/2014||Joshua Bloomstein||VP||Buy||5,000||$16.61||$83,050.00|| |
|5/9/2014||Michael Arougheti||CEO||Buy||50,000||$16.60||$830,000.00|| |
|3/7/2014||Scott C Lem||CAO||Buy||275||$17.88||$4,917.00|| |
|12/3/2013||Steven Mckeever||Director||Buy||1,650||$18.16||$29,964.00|| |
|11/13/2012||Steve Bartlett||Director||Buy||1,000||$16.89||$16,890.00|| |
Headline Trends for Ares Capital Corporation (NASDAQ:ARCC)
Latest Headlines for Ares Capital Corporation (NASDAQ:ARCC)
Ares Capital Corporation (ARCC) Chart for Tuesday, June, 27, 2017