Today, Ares Capital Corp. (ARCC) Decreased to Hold at TheStreet

Today, Ares Capital Corp. (ARCC) Decreased to Hold at TheStreet
Ares Capital Corp. (NASDAQ:ARCC) was downgraded by TheStreet from a “buy” rating to a “hold” rating in a report issued on Monday.

A number of other research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Ares Capital Corp. from a “hold” rating to a “sell” rating in a research note on Monday, July 18th. Janney Montgomery Scott initiated coverage on shares of Ares Capital Corp. in a research note on Monday, October 31st. They set a “neutral” rating and a $16.50 price objective for the company. JMP Securities raised their price objective on shares of Ares Capital Corp. from $16.00 to $17.00 and gave the stock a “market outperform” rating in a research note on Tuesday, August 9th. Keefe, Bruyette & Woods raised their price objective on shares of Ares Capital Corp. from $17.00 to $17.50 and gave the stock an “outperform” rating in a research note on Thursday, August 4th. Finally, Jefferies Group reissued a “buy” rating and set a $17.50 price objective on shares of Ares Capital Corp. in a research note on Tuesday, October 25th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $16.81.

Ares Capital Corp. (NASDAQ:ARCC) traded up 3.05% on Monday, reaching $16.24. The company’s stock had a trading volume of 1,820,176 shares. The stock has a market capitalization of $5.10 billion, a P/E ratio of 12.18 and a beta of 0.66. The firm has a 50 day moving average price of $15.43 and a 200 day moving average price of $15.19. Ares Capital Corp. has a 52 week low of $12.31 and a 52 week high of $16.43.

Ares Capital Corp. (NASDAQ:ARCC) last issued its earnings results on Wednesday, November 2nd. The investment management company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.04. Ares Capital Corp. had a net margin of 40.83% and a return on equity of 9.57%. During the same period in the previous year, the firm earned $0.41 earnings per share. On average, equities analysts anticipate that Ares Capital Corp. will post $1.57 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be paid a $0.38 dividend. The ex-dividend date is Tuesday, December 13th. This represents a $1.52 annualized dividend and a yield of 9.36%. Ares Capital Corp.’s payout ratio is currently 115.15%.

A number of hedge funds have recently added to or reduced their stakes in ARCC. Prudential Financial Inc. raised its position in shares of Ares Capital Corp. by 323.9% in the first quarter. Prudential Financial Inc. now owns 69,095 shares of the investment management company’s stock worth $1,025,000 after buying an additional 52,795 shares during the period. Legal & General Group Plc raised its position in shares of Ares Capital Corp. by 27.4% in the first quarter. Legal & General Group Plc now owns 621,037 shares of the investment management company’s stock worth $9,213,000 after buying an additional 133,464 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Ares Capital Corp. during the first quarter worth $154,000. LPL Financial LLC raised its position in shares of Ares Capital Corp. by 18.2% in the first quarter. LPL Financial LLC now owns 1,212,534 shares of the investment management company’s stock worth $17,958,000 after buying an additional 187,051 shares during the period. Finally, DNB Asset Management AS raised its position in shares of Ares Capital Corp. by 0.3% in the second quarter. DNB Asset Management AS now owns 128,334 shares of the investment management company’s stock worth $1,822,000 after buying an additional 400 shares during the period. 50.48% of the stock is owned by hedge funds and other institutional investors.

Ares Capital Corp. Company Profile

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