Shares of Ares Capital Corporation (NASDAQ:ARCC – Get Free Report) have earned an average recommendation of “Moderate Buy” from the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $20.60.
A number of equities analysts recently commented on ARCC shares. JPMorgan Chase & Co. reduced their price objective on Ares Capital from $19.00 to $18.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. Weiss Ratings restated a “hold (c)” rating on shares of Ares Capital in a report on Friday, September 4th. UBS Group raised their target price on Ares Capital from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 1st. Wells Fargo & Company reiterated an “equal weight” rating and set a $19.00 price target (down from $20.00) on shares of Ares Capital in a report on Friday, June 12th. Finally, Keefe, Bruyette & Woods lowered their price target on shares of Ares Capital from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 30th.
View Our Latest Research Report on Ares Capital
Ares Capital Stock Up 0.3%
Ares Capital (NASDAQ:ARCC – Get Free Report) last issued its earnings results on Wednesday, July 29th. The investment management company reported $0.47 earnings per share for the quarter, hitting the consensus estimate of $0.47. The business had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $770.19 million. Ares Capital had a return on equity of 9.80% and a net margin of 30.91%.During the same period in the previous year, the firm posted $0.50 EPS. As a group, analysts forecast that Ares Capital will post 1.91 earnings per share for the current fiscal year.
Ares Capital Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.92 dividend on an annualized basis and a yield of 9.7%. Ares Capital’s payout ratio is 142.22%.
Institutional Trading of Ares Capital
Several hedge funds have recently made changes to their positions in the company. MCF Advisors LLC increased its position in shares of Ares Capital by 12.4% in the 2nd quarter. MCF Advisors LLC now owns 9,839 shares of the investment management company’s stock valued at $182,000 after purchasing an additional 1,082 shares during the last quarter. Cidel Asset Management Inc. purchased a new stake in shares of Ares Capital during the 2nd quarter worth $530,000. Integrated Wealth Concepts LLC grew its stake in shares of Ares Capital by 5.1% during the second quarter. Integrated Wealth Concepts LLC now owns 61,533 shares of the investment management company’s stock worth $1,140,000 after purchasing an additional 3,012 shares in the last quarter. NewEdge Advisors LLC grew its stake in shares of Ares Capital by 33.5% during the second quarter. NewEdge Advisors LLC now owns 191,952 shares of the investment management company’s stock worth $3,557,000 after purchasing an additional 48,134 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in Ares Capital by 8.0% in the second quarter. Baird Financial Group Inc. now owns 1,177,508 shares of the investment management company’s stock valued at $21,819,000 after buying an additional 87,353 shares during the last quarter. Hedge funds and other institutional investors own 27.38% of the company’s stock.
Ares Capital Company Profile
Ares Capital Corporation (NASDAQ: ARCC) is a business development company that provides financing to middle-market companies. The company invests primarily in privately originated loans and other debt investments, helping businesses fund acquisitions, recapitalizations, refinancings, growth initiatives and other corporate purposes.
Its investment portfolio generally includes senior secured loans, subordinated debt and mezzanine financing, along with selected equity investments. Ares Capital focuses on companies with established operations across a variety of industries and typically works with private equity sponsors, management teams and other financial partners.
Founded in 2004, Ares Capital is externally managed by Ares Capital Management LLC, an affiliate of global alternative investment manager Ares Management Corporation.
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