Today, The Zacks Investment Research lowers the Stock rating of Ares Capital Corp. (ARCC)

Today, The Zacks Investment Research lowers the Stock rating of Ares Capital Corp. (ARCC)

Zacks Investment Research downgraded shares of Ares Capital Corp. (NASDAQ:ARCC) from a buy rating to a hold rating in a report released on Wednesday.

According to Zacks, “ARES CAPITAL CORPORATION is a specialty finance company that is a closed-end, non-diversified management investment company. Ares Capital Corporation has elected to be regulated as a business development company under the Investment Company Act of 1940. Its investment objective is to generate both current income and capital appreciation through debt and equity investments. Ares Capital Corporation invests primarily in first and second lien senior loans and mezzanine debt, which in some cases includes an equity component, and, to a lesser extent, in equity investments in private U.S. middle market companies. “

Several other research analysts have also commented on ARCC. National Securities reiterated a neutral rating and issued a $16.00 target price on shares of Ares Capital Corp. in a research report on Thursday, August 4th. Jefferies Group reiterated a buy rating and issued a $17.50 target price on shares of Ares Capital Corp. in a research report on Thursday, August 4th. Keefe, Bruyette & Woods lifted their target price on Ares Capital Corp. from $17.00 to $17.50 and gave the stock an outperform rating in a research report on Thursday, August 4th. JMP Securities lifted their target price on Ares Capital Corp. from $16.00 to $17.00 and gave the stock a market outperform rating in a research report on Tuesday, August 9th. Finally, Janney Montgomery Scott started coverage on Ares Capital Corp. in a research report on Monday, October 31st. They issued a neutral rating and a $16.50 target price for the company. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $16.81.

Ares Capital Corp. (NASDAQ:ARCC) opened at 15.95 on Wednesday. The firm has a 50-day moving average price of $15.46 and a 200 day moving average price of $15.20. 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 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. Ares Capital Corp. had a return on equity of 9.57% and a net margin of 40.83%. During the same period last year, the business posted $0.41 earnings per share. Equities analysts expect that Ares Capital Corp. will post $1.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $1.52 dividend on an annualized basis and a yield of 9.36%. Ares Capital Corp.’s dividend payout ratio (DPR) is presently 115.15%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Hudock Capital Group LLC raised its position in shares of Ares Capital Corp. by 1.0% in the third quarter. Hudock Capital Group LLC now owns 9,741 shares of the investment management company’s stock worth $150,000 after buying an additional 100 shares during the period. 1st Global Advisors Inc. raised its position in shares of Ares Capital Corp. by 0.8% in the third quarter. 1st Global Advisors Inc. now owns 19,056 shares of the investment management company’s stock worth $295,000 after buying an additional 148 shares during the period. WFG Advisors LP raised its position in shares of Ares Capital Corp. by 0.7% in the second quarter. WFG Advisors LP now owns 21,493 shares of the investment management company’s stock worth $305,000 after buying an additional 155 shares during the period. Alpha Omega Wealth Management LLC raised its position in shares of Ares Capital Corp. by 2.0% in the second quarter. Alpha Omega Wealth Management LLC now owns 11,014 shares of the investment management company’s stock worth $156,000 after buying an additional 214 shares during the period. Finally, Concert Wealth Management Inc. raised its position in shares of Ares Capital Corp. by 1.8% in the third quarter. Concert Wealth Management Inc. now owns 12,737 shares of the investment management company’s stock worth $200,000 after buying an additional 228 shares during the period. Institutional investors own 52.31% of the company’s stock.

Ares Capital Corp. Company Profile

Ares Capital Corporation is a specialty finance company that is 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. The Company invests primarily in the United States middle-market companies.

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