Ares Capital Co. (ARCC) Receives Average Rating of “Buy” from Brokerages
Shares of Ares Capital Co. (NASDAQ:ARCC) have been given a consensus recommendation of “Buy” by the fifteen research firms that are covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and ten have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $18.00.
Several equities research analysts recently issued reports on ARCC shares. Keefe, Bruyette & Woods set a $19.00 target price on shares of Ares Capital and gave the stock a “buy” rating in a research report on Friday, October 6th. Zacks Investment Research cut shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. TheStreet cut shares of Ares Capital from a “b” rating to a “c+” rating in a research report on Monday, November 13th. BMO Capital Markets reaffirmed a “hold” rating and set a $15.00 price target on shares of Ares Capital in a research report on Friday, August 25th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $19.50 price target on shares of Ares Capital in a research report on Friday, November 3rd.
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 purchased at an average cost of $15.85 per share, with a total value of $132,585.25. Following the completion of the transaction, the director now directly owns 937,054 shares in the company, valued at approximately $14,852,305.90. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last ninety days, insiders have acquired 8,965 shares of company stock worth $142,323. 0.45% of the stock is currently owned by corporate insiders.
Ares Capital (NASDAQ:ARCC) traded up $0.04 on Friday, hitting $16.28. 1,226,200 shares of the company traded hands, compared to its average volume of 2,043,937. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.29 and a quick ratio of 1.29. Ares Capital has a twelve month low of $15.48 and a twelve month high of $17.87. The firm has a market capitalization of $6,923.10, a PE ratio of 11.28, a PEG ratio of 3.92 and a beta of 0.63.
Ares Capital (NASDAQ:ARCC) last released its earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.01. Ares Capital had a net margin of 45.78% and a return on equity of 8.60%. The business had revenue of $294.00 million for the quarter, compared to analysts’ expectations of $295.02 million. During the same period last year, the company earned $0.43 earnings per share. research analysts expect that Ares Capital will post 1.38 earnings per share for the current 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 given a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.52 dividend on an annualized basis and a yield of 9.34%. Ares Capital’s dividend payout ratio (DPR) is 119.69%.
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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