Ares Capital Co. (ARCC) Receives $17.95 Average Price Target from Brokerages
Ares Capital Co. (NASDAQ:ARCC) has been given a consensus rating of “Buy” by the fifteen ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $17.95.
Several equities research analysts recently commented on ARCC shares. Zacks Investment Research raised Ares Capital from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research report on Tuesday, April 24th. BidaskClub raised Ares Capital from a “sell” rating to a “hold” rating in a research report on Friday, June 22nd. National Securities reaffirmed a “buy” rating and set a $19.00 price objective on shares of Ares Capital in a research report on Thursday, May 3rd. Oppenheimer set a $18.00 price objective on Ares Capital and gave the company a “buy” rating in a research report on Thursday, May 3rd. Finally, JMP Securities increased their price objective on Ares Capital from $18.00 to $18.50 and gave the company a “market outperform” rating in a research report on Monday, June 4th.
A number of large investors have recently made changes to their positions in the business. Millennium Management LLC boosted its position in Ares Capital by 65.3% in the second quarter. Millennium Management LLC now owns 3,408,182 shares of the investment management company’s stock worth $56,065,000 after purchasing an additional 1,346,837 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its position in Ares Capital by 2.3% in the second quarter. OMERS ADMINISTRATION Corp now owns 2,744,621 shares of the investment management company’s stock worth $45,149,000 after purchasing an additional 61,162 shares during the last quarter. Bruni J V & Co. Co. boosted its position in Ares Capital by 6.5% in the first quarter. Bruni J V & Co. Co. now owns 2,428,309 shares of the investment management company’s stock worth $38,537,000 after purchasing an additional 148,192 shares during the last quarter. Brown Advisory Inc. boosted its position in Ares Capital by 1.8% in the second quarter. Brown Advisory Inc. now owns 2,352,165 shares of the investment management company’s stock worth $38,693,000 after purchasing an additional 41,468 shares during the last quarter. Finally, Van ECK Associates Corp boosted its position in Ares Capital by 2.9% in the second quarter. Van ECK Associates Corp now owns 2,290,979 shares of the investment management company’s stock worth $37,687,000 after purchasing an additional 65,013 shares during the last quarter. 41.16% of the stock is currently owned by institutional investors and hedge funds.
Ares Capital (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, August 1st. The investment management company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Ares Capital had a return on equity of 8.98% and a net margin of 69.31%. The company had revenue of $333.00 million for the quarter, compared to analysts’ expectations of $322.06 million. During the same period last year, the firm posted $0.42 earnings per share. equities analysts anticipate that Ares Capital will post 1.58 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Shareholders of record on Friday, September 14th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 8.99%. This is a boost from Ares Capital’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, September 13th. Ares Capital’s dividend payout ratio (DPR) is presently 109.35%.
About Ares Capital
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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