Ares Capital (NASDAQ:ARCC) issued its quarterly earnings data on Tuesday. The investment management company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.04, RTT News reports. Ares Capital had a return on equity of 9.34% and a net margin of 72.13%. During the same period last year, the firm posted $0.38 earnings per share.
NASDAQ ARCC opened at $16.60 on Tuesday. The company has a market capitalization of $7.08 billion, a PE ratio of 11.94, a P/E/G ratio of 3.27 and a beta of 0.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.41 and a quick ratio of 2.41. Ares Capital has a 12 month low of $14.50 and a 12 month high of $17.63.
In related news, CFO Penelope F. Roll sold 6,000 shares of the stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $16.76, for a total value of $100,560.00. Following the sale, the chief financial officer now owns 11,147 shares in the company, valued at approximately $186,823.72. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO R. Kipp Deveer purchased 50,000 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The stock was acquired at an average price of $16.02 per share, for a total transaction of $801,000.00. Following the purchase, the chief executive officer now owns 225,000 shares in the company, valued at approximately $3,604,500. The disclosure for this purchase can be found here. In the last three months, insiders bought 50,600 shares of company stock valued at $810,730. 0.49% of the stock is currently owned by insiders.
Several equities analysts recently issued reports on the company. BidaskClub upgraded Ares Capital from a “hold” rating to a “buy” rating in a research report on Tuesday, November 13th. Zacks Investment Research raised Ares Capital from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research report on Monday, December 3rd. Oppenheimer set a $18.00 price target on Ares Capital and gave the stock a “buy” rating in a research report on Thursday, November 1st. Finally, National Securities reaffirmed a “buy” rating and set a $19.00 price target on shares of Ares Capital in a research report on Thursday, November 1st. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.25.
Ares Capital Company Profile
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.
Recommended Story: Debt-To-Equity Ratio
Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.