Ares Capital Corporation (NASDAQ:ARCC)‘s stock had its “buy” rating reiterated by Keefe, Bruyette & Woods in a note issued to investors on Friday. They currently have a $18.50 price objective on the investment management company’s stock. Keefe, Bruyette & Woods’ target price would suggest a potential upside of 13.50% from the stock’s current price.
ARCC has been the topic of a number of other reports. Jefferies Group LLC reiterated a “buy” rating and issued a $19.50 target price on shares of Ares Capital Corporation in a report on Friday, April 7th. National Securities upgraded shares of Ares Capital Corporation from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $18.00 to $19.00 in a report on Monday, May 8th. Citigroup Inc. boosted their target price on shares of Ares Capital Corporation from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Monday, March 6th. BMO Capital Markets reiterated a “hold” rating and issued a $15.00 target price on shares of Ares Capital Corporation in a report on Tuesday, April 11th. Finally, Janney Montgomery Scott reiterated a “neutral” rating on shares of Ares Capital Corporation in a report on Friday, May 5th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $17.94.
Ares Capital Corporation (NASDAQ ARCC) opened at 16.30 on Friday. The firm has a 50-day moving average of $16.64 and a 200-day moving average of $16.99. Ares Capital Corporation has a one year low of $13.85 and a one year high of $17.87.
Ares Capital Corporation (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, May 3rd. The investment management company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.04. Ares Capital Corporation had a return on equity of 9.32% and a net margin of 44.29%. The company had revenue of $275 million during the quarter, compared to analyst estimates of $294.92 million. During the same period in the prior year, the company posted $0.42 earnings per share. Equities analysts predict that Ares Capital Corporation will post $1.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.33%. Ares Capital Corporation’s payout ratio is currently 110.95%.
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Large investors have recently added to or reduced their stakes in the stock. Advisory Research Inc. raised its stake in Ares Capital Corporation by 118.3% in the fourth quarter. Advisory Research Inc. now owns 313,820 shares of the investment management company’s stock worth $5,175,000 after buying an additional 170,051 shares in the last quarter. Ancora Advisors LLC purchased a new stake in Ares Capital Corporation during the fourth quarter worth about $3,794,000. Mckinley Capital Management LLC Delaware raised its stake in Ares Capital Corporation by 38.1% in the first quarter. Mckinley Capital Management LLC Delaware now owns 700,901 shares of the investment management company’s stock worth $12,182,000 after buying an additional 193,496 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Ares Capital Corporation by 5,673.0% in the first quarter. BNP Paribas Arbitrage SA now owns 263,943 shares of the investment management company’s stock worth $4,587,000 after buying an additional 259,371 shares in the last quarter. Finally, Baltimore Washington Financial Advisors Inc. raised its stake in Ares Capital Corporation by 2.0% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 488,633 shares of the investment management company’s stock worth $8,057,000 after buying an additional 9,697 shares in the last quarter. Institutional investors and hedge funds own 48.53% of the company’s stock.
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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