Ares Capital Co. (NASDAQ:ARCC – Get Free Report) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $21.50.
Several brokerages have recently weighed in on ARCC. Oppenheimer raised their target price on Ares Capital from $21.00 to $22.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. JMP Securities restated a “market outperform” rating and set a $21.00 price objective on shares of Ares Capital in a report on Tuesday, March 26th. JPMorgan Chase & Co. increased their target price on Ares Capital from $21.50 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada reissued an “outperform” rating and set a $22.00 price target on shares of Ares Capital in a research report on Thursday, May 23rd. Finally, Truist Financial upped their price target on shares of Ares Capital from $22.00 to $23.00 and gave the company a “buy” rating in a report on Thursday, May 2nd.
Check Out Our Latest Analysis on Ares Capital
Institutional Inflows and Outflows
Ares Capital Stock Performance
Ares Capital stock opened at $20.68 on Friday. The firm has a market capitalization of $12.71 billion, a PE ratio of 7.08 and a beta of 1.00. Ares Capital has a one year low of $18.00 and a one year high of $21.84. The stock’s 50 day moving average price is $20.98 and its 200 day moving average price is $20.45. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.63 and a current ratio of 1.63.
Ares Capital (NASDAQ:ARCC – Get Free Report) last posted its earnings results on Wednesday, May 1st. The investment management company reported $0.59 EPS for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $703.85 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. As a group, sell-side analysts expect that Ares Capital will post 2.34 EPS for the current fiscal year.
Ares Capital Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a dividend of $0.48 per share. The ex-dividend date is Friday, June 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.28%. Ares Capital’s dividend payout ratio (DPR) is 65.75%.
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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