Ares Capital Corporation (ARCC) Cut to “C+” at TheStreet
Other equities analysts have also recently issued reports about the stock. National Securities restated a buy rating and issued a $19.00 target price on shares of Ares Capital Corporation in a research report on Monday, August 7th. Zacks Investment Research cut shares of Ares Capital Corporation from a hold rating to a sell rating in a research report on Wednesday, August 2nd. BidaskClub cut shares of Ares Capital Corporation from a hold rating to a sell rating in a research report on Wednesday, July 19th. Citigroup Inc. began coverage on shares of Ares Capital Corporation in a research report on Wednesday, September 20th. They set an outperform rating and a $18.00 price objective for the company. Finally, CIBC began coverage on shares of Ares Capital Corporation in a research report on Thursday, September 21st. They set an outperform rating and a $18.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $18.06.
Ares Capital Corporation (NASDAQ:ARCC) opened at $16.19 on Monday. The company has a market cap of $6,900.00, a P/E ratio of 11.26, a PEG ratio of 3.92 and a beta of 0.63. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.66. Ares Capital Corporation has a 12-month low of $15.47 and a 12-month high of $17.87.
Ares Capital Corporation (NASDAQ:ARCC) last issued its earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. The company had revenue of $294.00 million during the quarter, compared to analysts’ expectations of $295.02 million. Ares Capital Corporation had a net margin of 45.78% and a return on equity of 8.60%. During the same period in the previous year, the company earned $0.43 EPS. sell-side analysts predict that Ares Capital Corporation will post 1.38 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 9.39%. The ex-dividend date is Thursday, December 14th. Ares Capital Corporation’s dividend payout ratio (DPR) is currently 120.63%.
In other news, Director Michael J. Arougheti acquired 8,365 shares of Ares Capital Corporation stock in a transaction dated Friday, November 3rd. The shares were bought at an average cost of $15.85 per share, with a total value of $132,585.25. Following the purchase, the director now owns 937,054 shares in the company, valued at approximately $14,852,305.90. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last ninety days, insiders bought 8,965 shares of company stock worth $142,283. Insiders own 0.45% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of ARCC. Penserra Capital Management LLC boosted its stake in Ares Capital Corporation by 8.9% during the second quarter. Penserra Capital Management LLC now owns 6,439 shares of the investment management company’s stock worth $105,000 after acquiring an additional 526 shares in the last quarter. Hudock Capital Group LLC boosted its stake in Ares Capital Corporation by 3.2% during the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock worth $106,000 after acquiring an additional 200 shares in the last quarter. Ffcm LLC boosted its stake in Ares Capital Corporation by 218.9% during the second quarter. Ffcm LLC now owns 6,840 shares of the investment management company’s stock worth $113,000 after acquiring an additional 4,695 shares in the last quarter. Legacy Advisors LLC bought a new position in Ares Capital Corporation during the third quarter worth $128,000. Finally, Grove Bank & Trust lifted its stake in shares of Ares Capital Corporation by 45.4% in the second quarter. Grove Bank & Trust now owns 9,420 shares of the investment management company’s stock valued at $154,000 after buying an additional 2,940 shares in the last quarter. 44.76% of the stock is currently owned by institutional investors and hedge funds.
About Ares Capital Corporation
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.
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