BidaskClub cut shares of Ares Capital (NASDAQ:ARCC) from a sell rating to a strong sell rating in a research note released on Tuesday morning.
ARCC has been the topic of a number of other research reports. Keefe, Bruyette & Woods set a $19.00 target price on Ares Capital and gave the company a buy rating in a research note on Friday, October 6th. Zacks Investment Research lowered Ares Capital from a hold rating to a sell rating in a research note on Tuesday, October 3rd. TheStreet lowered Ares Capital from a b rating to a c+ rating in a research note on Monday, November 13th. BMO Capital Markets reaffirmed a hold rating and issued a $15.00 target price on shares of Ares Capital in a research note on Friday, August 25th. Finally, Jefferies Group reaffirmed a buy rating and issued a $19.50 target price on shares of Ares Capital in a research note on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and ten have assigned a buy rating to the company. Ares Capital presently has an average rating of Buy and a consensus target price of $18.00.
Shares of Ares Capital (NASDAQ:ARCC) opened at $16.42 on Tuesday. The company has a market capitalization of $6,923.10, a P/E ratio of 11.28, a PEG ratio of 3.92 and a beta of 0.63. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.29 and a current ratio of 1.29. Ares Capital has a 52 week low of $15.48 and a 52 week high of $17.87.
Ares Capital (NASDAQ:ARCC) last announced its quarterly earnings results on Thursday, November 2nd. The investment management company reported $0.36 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. The business had revenue of $294.00 million for the quarter, compared to analyst estimates of $295.02 million. Ares Capital had a return on equity of 8.60% and a net margin of 45.78%. During the same quarter in the previous year, the company earned $0.43 EPS. research analysts expect that Ares Capital will post 1.38 earnings per share for the current fiscal year.
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 paid a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.26%. The ex-dividend date of this dividend is Thursday, December 14th. Ares Capital’s dividend payout ratio is presently 119.69%.
In other Ares Capital news, Director Michael J. Arougheti purchased 8,365 shares of Ares Capital stock in a transaction on Friday, November 3rd. The shares were bought at an average price of $15.85 per share, with a total value of $132,585.25. Following the purchase, the director now directly owns 937,054 shares in the company, valued at approximately $14,852,305.90. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last three months, insiders have acquired 8,965 shares of company stock worth $142,323. Corporate insiders own 0.45% of the company’s stock.
Several institutional investors have recently modified their holdings of ARCC. US Bancorp DE lifted its stake in shares of Ares Capital by 1.8% during the 2nd quarter. US Bancorp DE now owns 54,004 shares of the investment management company’s stock worth $885,000 after purchasing an additional 967 shares during the period. Sei Investments Co. lifted its stake in shares of Ares Capital by 50.6% during the 2nd quarter. Sei Investments Co. now owns 69,980 shares of the investment management company’s stock worth $1,146,000 after purchasing an additional 23,505 shares during the period. IFP Advisors Inc lifted its stake in shares of Ares Capital by 32.0% during the 2nd quarter. IFP Advisors Inc now owns 83,971 shares of the investment management company’s stock worth $1,375,000 after purchasing an additional 20,377 shares during the period. Morgan Dempsey Capital Management LLC lifted its stake in shares of Ares Capital by 5.4% during the 2nd quarter. Morgan Dempsey Capital Management LLC now owns 338,375 shares of the investment management company’s stock worth $5,546,000 after purchasing an additional 17,358 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Ares Capital by 370.2% during the 2nd quarter. Canada Pension Plan Investment Board now owns 310,010 shares of the investment management company’s stock worth $5,078,000 after purchasing an additional 244,080 shares during the period. 43.70% of the stock is currently owned by institutional investors.
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Ares Capital Company Profile
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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