Ares Capital (NASDAQ:ARCC) PT Raised to $22.00

Ares Capital (NASDAQ:ARCC) had its target price hoisted by Oppenheimer from $21.00 to $22.00 in a research note published on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the investment management company’s stock.

Several other analysts have also issued reports on the stock. Wells Fargo & Company upped their target price on shares of Ares Capital from $19.00 to $20.00 and gave the stock an equal weight rating in a research note on Monday, January 29th. JMP Securities reiterated a market outperform rating and issued a $21.00 price objective on shares of Ares Capital in a research note on Tuesday, March 26th. Finally, B. Riley downgraded Ares Capital from a buy rating to a neutral rating and set a $21.00 target price on the stock. in a research note on Monday, January 8th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, Ares Capital currently has a consensus rating of Moderate Buy and an average target price of $21.43.

Ares Capital Trading Up 0.3 %

ARCC opened at $20.61 on Thursday. Ares Capital has a fifty-two week low of $17.53 and a fifty-two week high of $21.00. The firm has a market capitalization of $12.53 billion, a PE ratio of 7.06 and a beta of 0.99. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.63 and a quick ratio of 1.24. The company’s 50-day moving average is $20.42 and its 200 day moving average is $20.07.

Ares Capital (NASDAQ:ARCC) last posted its earnings results on Wednesday, May 1st. The investment management company reported $0.59 earnings per share for the quarter, missing analysts’ consensus estimates of $0.60 by ($0.01). Ares Capital had a net margin of 62.77% and a return on equity of 12.37%. The company had revenue of $701.00 million during the quarter, compared to the consensus estimate of $703.85 million. During the same quarter in the prior year, the business earned $0.56 EPS. The firm’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, research analysts predict that Ares Capital will post 2.34 earnings per share for the current fiscal year.

Ares Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 9.32%. The ex-dividend date is Friday, June 14th. Ares Capital’s dividend payout ratio is currently 65.75%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ARCC. Lewis Asset Management LLC raised its stake in Ares Capital by 2.1% in the 1st quarter. Lewis Asset Management LLC now owns 24,805 shares of the investment management company’s stock valued at $516,000 after acquiring an additional 500 shares during the period. Chapin Davis Inc. increased its stake in shares of Ares Capital by 2.2% in the first quarter. Chapin Davis Inc. now owns 22,966 shares of the investment management company’s stock worth $478,000 after purchasing an additional 501 shares in the last quarter. Lincoln National Corp raised its position in shares of Ares Capital by 3.0% in the fourth quarter. Lincoln National Corp now owns 17,665 shares of the investment management company’s stock valued at $354,000 after purchasing an additional 520 shares during the period. Baron Financial Group LLC lifted its stake in shares of Ares Capital by 3.0% during the 4th quarter. Baron Financial Group LLC now owns 18,366 shares of the investment management company’s stock valued at $368,000 after buying an additional 543 shares in the last quarter. Finally, Syntal Capital Partners LLC boosted its holdings in Ares Capital by 3.3% in the 3rd quarter. Syntal Capital Partners LLC now owns 17,346 shares of the investment management company’s stock worth $338,000 after buying an additional 551 shares during the period. Hedge funds and other institutional investors own 27.38% of the company’s stock.

About Ares Capital

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.