Keefe, Bruyette & Woods Reiterates “$19.00” Price Target for Ares Capital Corporation (ARCC)

Keefe, Bruyette & Woods set a $19.00 price objective on Ares Capital Corporation (NASDAQ:ARCC) in a report released on Friday morning. The brokerage currently has a buy rating on the investment management company’s stock.

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Ares Capital Corporation from a hold rating to a sell rating in a research note on Tuesday, October 3rd. CIBC began coverage on shares of Ares Capital Corporation in a research note on Thursday, September 21st. They issued an outperform rating and a $18.00 price objective on the stock. Oppenheimer Holdings, Inc. began coverage on shares of Ares Capital Corporation in a research note on Thursday, September 21st. They issued an outperform rating and a $18.00 price objective on the stock. Citigroup Inc. began coverage on shares of Ares Capital Corporation in a research note on Wednesday, September 20th. They issued an outperform rating and a $18.00 price objective on the stock. Finally, BMO Capital Markets reiterated a hold rating and issued a $15.00 price objective on shares of Ares Capital Corporation in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $17.89.

Shares of Ares Capital Corporation (ARCC) opened at 16.41 on Friday. Ares Capital Corporation has a 12 month low of $15.01 and a 12 month high of $17.87. The firm has a 50-day moving average of $16.08 and a 200 day moving average of $16.55.

Ares Capital Corporation (NASDAQ:ARCC) last posted its earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The company had revenue of $284.00 million for the quarter, compared to the consensus estimate of $297.77 million. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. During the same quarter in the prior year, the company posted $0.50 EPS. Analysts predict that Ares Capital Corporation will post $1.40 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.26%. The ex-dividend date of this dividend was Thursday, September 14th. Ares Capital Corporation’s dividend payout ratio (DPR) is presently 117.83%.

Institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. increased its holdings in Ares Capital Corporation by 70.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,746 shares of the investment management company’s stock worth $356,000 after acquiring an additional 8,974 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Ares Capital Corporation by 16.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 59,220 shares of the investment management company’s stock worth $1,029,000 after acquiring an additional 8,354 shares in the last quarter. California Public Employees Retirement System increased its holdings in Ares Capital Corporation by 16.2% in the 1st quarter. California Public Employees Retirement System now owns 821,400 shares of the investment management company’s stock worth $14,276,000 after acquiring an additional 114,700 shares in the last quarter. Sei Investments Co. increased its holdings in Ares Capital Corporation by 50.6% in the 2nd quarter. Sei Investments Co. now owns 69,980 shares of the investment management company’s stock worth $1,146,000 after acquiring an addi

Several other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Ares Capital Corporation from a hold rating to a sell rating in a research note on Tuesday, October 3rd. CIBC began coverage on shares of Ares Capital Corporation in a research note on Thursday, September 21st. They issued an outperform rating and a $18.00 price objective on the stock. Oppenheimer Holdings, Inc. began coverage on shares of Ares Capital Corporation in a research note on Thursday, September 21st. They issued an outperform rating and a $18.00 price objective on the stock. Citigroup Inc. began coverage on shares of Ares Capital Corporation in a research note on Wednesday, September 20th. They issued an outperform rating and a $18.00 price objective on the stock. Finally, BMO Capital Markets reiterated a hold rating and issued a $15.00 price objective on shares of Ares Capital Corporation in a research note on Friday, August 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of Buy and an average price target of $17.89.

Shares of Ares Capital Corporation (ARCC) opened at 16.41 on Friday. Ares Capital Corporation has a 12 month low of $15.01 and a 12 month high of $17.87. The firm has a 50-day moving average of $16.08 and a 200 day moving average of $16.55.

Ares Capital Corporation (NASDAQ:ARCC) last posted its earnings results on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). The company had revenue of $284.00 million for the quarter, compared to the consensus estimate of $297.77 million. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. During the same quarter in the prior year, the company posted $0.50 EPS. Analysts predict that Ares Capital Corporation will post $1.40 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This article was first posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this article on another publication, it was stolen and reposted in violation of US and international copyright law. The original version of this article can be viewed at https://ledgergazette.com/2017/10/10/keefe-bruyette-woods-reiterates-19-00-price-target-for-ares-capital-corporation-arcc.html.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 9.26%. The ex-dividend date of this dividend was Thursday, September 14th. Ares Capital Corporation’s dividend payout ratio (DPR) is presently 117.83%.

Institutional investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. increased its holdings in Ares Capital Corporation by 70.3% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 21,746 shares of the investment management company’s stock worth $356,000 after acquiring an additional 8,974 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Ares Capital Corporation by 16.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 59,220 shares of the investment management company’s stock worth $1,029,000 after acquiring an additional 8,354 shares in the last quarter. California Public Employees Retirement System increased its holdings in Ares Capital Corporation by 16.2% in the 1st quarter. California Public Employees Retirement System now owns 821,400 shares of the investment management company’s stock worth $14,276,000 after acquiring an additional 114,700 shares in the last quarter. Sei Investments Co. increased its holdings in Ares Capital Corporation by 50.6% in the 2nd quarter. Sei Investments Co. now owns 69,980 shares of the investment management company’s stock worth $1,146,000 after acquiring an additional 23,505 shares in the last quarter. Finally, P.A.W. Capital Corp increased its holdings in Ares Capital Corporation by 12.5% in the 2nd quarter. P.A.W. Capital Corp now owns 108,000 shares of the investment management company’s stock worth $1,769,000 after acquiring an additional 12,000 shares in the last quarter. 45.01% of the stock is owned by institutional investors.

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.

Analyst Recommendations for Ares Capital Corporation (NASDAQ:ARCC)

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