Ares Capital (NASDAQ:ARCC) Trading Down 0%

Ares Capital Co. (NASDAQ:ARCCGet Free Report)’s share price fell 0% during mid-day trading on Friday . The company traded as low as $20.52 and last traded at $20.57. 474,225 shares were traded during mid-day trading, a decline of 87% from the average session volume of 3,535,516 shares. The stock had previously closed at $20.58.

Analyst Ratings Changes

A number of brokerages recently issued reports on ARCC. JMP Securities reiterated a “market outperform” rating and issued a $21.00 price target on shares of Ares Capital in a research note on Tuesday, March 26th. Royal Bank of Canada reiterated an “outperform” rating and issued a $22.00 price target on shares of Ares Capital in a research note on Thursday, May 23rd. Oppenheimer boosted their price objective on shares of Ares Capital from $21.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Ares Capital from $21.50 to $22.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Finally, Truist Financial boosted their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $21.50.

Read Our Latest Analysis on Ares Capital

Ares Capital Price Performance

The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.63. The company’s 50-day simple moving average is $20.99 and its 200-day simple moving average is $20.48. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 7.04 and a beta of 1.00.

Ares Capital (NASDAQ:ARCCGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The investment management company reported $0.59 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.01). Ares Capital had a return on equity of 12.37% and a net margin of 62.77%. The firm had revenue of $701.00 million for the quarter, compared to the consensus estimate of $703.85 million. During the same quarter last year, the business earned $0.56 earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities research analysts anticipate that Ares Capital Co. will post 2.34 EPS for the current year.

Ares Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 9.35%. The ex-dividend date of this dividend is Friday, June 14th. Ares Capital’s dividend payout ratio (DPR) is presently 65.75%.

Institutional Investors Weigh In On Ares Capital

A number of hedge funds have recently added to or reduced their stakes in ARCC. Nemes Rush Group LLC acquired a new position in shares of Ares Capital during the fourth quarter valued at $25,000. Valley National Advisers Inc. grew its holdings in Ares Capital by 323.3% during the first quarter. Valley National Advisers Inc. now owns 1,435 shares of the investment management company’s stock worth $29,000 after acquiring an additional 1,096 shares during the period. Pingora Partners LLC acquired a new position in Ares Capital during the fourth quarter worth about $30,000. First Horizon Advisors Inc. grew its holdings in Ares Capital by 93.9% during the fourth quarter. First Horizon Advisors Inc. now owns 1,922 shares of the investment management company’s stock worth $38,000 after acquiring an additional 931 shares during the period. Finally, Assetmark Inc. grew its holdings in Ares Capital by 218.7% during the fourth quarter. Assetmark Inc. now owns 1,960 shares of the investment management company’s stock worth $39,000 after acquiring an additional 1,345 shares during the period. 27.38% of the stock is currently owned by institutional investors.

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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