Wells Fargo & Company Issues Positive Forecast for Ares Capital (NASDAQ:ARCC) Stock Price

Ares Capital (NASDAQ:ARCCFree Report) had its price target upped by Wells Fargo & Company from $21.00 to $22.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the investment management company’s stock.

Several other equities analysts have also commented on the company. Keefe, Bruyette & Woods decreased their price target on Ares Capital from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 8th. JPMorgan Chase & Co. decreased their price target on Ares Capital from $24.50 to $22.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. UBS Group decreased their price target on Ares Capital from $22.00 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 17th. B. Riley raised Ares Capital to a “hold” rating in a research note on Monday, June 16th. Finally, Royal Bank Of Canada decreased their price target on Ares Capital from $24.00 to $23.00 and set an “outperform” rating on the stock in a research note on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.00.

View Our Latest Report on ARCC

Ares Capital Stock Performance

NASDAQ ARCC opened at $21.95 on Friday. The stock’s fifty day moving average is $21.48 and its two-hundred day moving average is $21.91. The firm has a market capitalization of $15.24 billion, a P/E ratio of 10.71 and a beta of 0.68. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.40 and a current ratio of 1.40. Ares Capital has a fifty-two week low of $18.26 and a fifty-two week high of $23.84.

Ares Capital (NASDAQ:ARCCGet Free Report) last released its quarterly earnings data on Tuesday, April 29th. The investment management company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04). The company had revenue of $599.00 million for the quarter, compared to analyst estimates of $769.32 million. Ares Capital had a return on equity of 11.05% and a net margin of 43.50%. The business’s quarterly revenue was up 4.4% on a year-over-year basis. During the same period last year, the firm posted $0.59 EPS. On average, research analysts anticipate that Ares Capital will post 2.19 earnings per share for the current year.

Ares Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a $0.48 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.75%. Ares Capital’s dividend payout ratio is presently 93.66%.

Institutional Investors Weigh In On Ares Capital

Institutional investors and hedge funds have recently modified their holdings of the company. US Bancorp DE raised its holdings in shares of Ares Capital by 4.7% in the 4th quarter. US Bancorp DE now owns 43,056 shares of the investment management company’s stock valued at $942,000 after buying an additional 1,945 shares during the period. M&T Bank Corp purchased a new stake in shares of Ares Capital in the 4th quarter valued at $222,000. GAMMA Investing LLC increased its holdings in Ares Capital by 2,116.0% during the 1st quarter. GAMMA Investing LLC now owns 13,274 shares of the investment management company’s stock worth $2,940,000 after purchasing an additional 12,675 shares during the period. Assetmark Inc. increased its holdings in Ares Capital by 361.8% during the 4th quarter. Assetmark Inc. now owns 3,999 shares of the investment management company’s stock worth $88,000 after purchasing an additional 3,133 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new stake in Ares Capital during the 4th quarter worth about $314,000. Hedge funds and other institutional investors own 27.38% of the company’s stock.

About Ares Capital

(Get Free Report)

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.

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Analyst Recommendations for Ares Capital (NASDAQ:ARCC)

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