BMO Capital Markets Reaffirms Hold Rating for Ares Capital Corporation (ARCC)

BMO Capital Markets reaffirmed their hold rating on shares of Ares Capital Corporation (NASDAQ:ARCC) in a research note published on Friday. BMO Capital Markets currently has a $15.00 price objective on the investment management company’s stock.

A number of other research firms have also weighed in on ARCC. Zacks Investment Research lowered shares of Ares Capital Corporation from a hold rating to a sell rating in a research note on Tuesday, July 4th. Janney Montgomery Scott restated a neutral rating on shares of Ares Capital Corporation in a research note on Monday, May 15th. BidaskClub lowered shares of Ares Capital Corporation from a hold rating to a sell rating in a research note on Wednesday, July 19th. TheStreet lowered shares of Ares Capital Corporation from a b rating to a c+ rating in a research note on Wednesday, June 14th. Finally, National Securities restated a buy rating and set a $19.00 price objective on shares of Ares Capital Corporation in a research note on Monday, August 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. Ares Capital Corporation has an average rating of Hold and a consensus price target of $18.06.

Shares of Ares Capital Corporation (ARCC) opened at 16.15 on Friday. The company’s 50 day moving average price is $16.30 and its 200 day moving average price is $16.88. Ares Capital Corporation has a one year low of $15.01 and a one year high of $17.87.

Ares Capital Corporation (NASDAQ:ARCC) last released its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.02. The firm had revenue of $284 million for the quarter, compared to the consensus estimate of $297.77 million. Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. During the same quarter in the prior year, the business posted $0.50 earnings per share. Equities analysts expect that Ares Capital Corporation will post $1.40 EPS for the current fiscal year.

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The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.41%. The ex-dividend date is Thursday, September 14th. Ares Capital Corporation’s payout ratio is presently 117.83%.

Several hedge funds have recently made changes to their positions in ARCC. PNC Financial Services Group Inc. increased its stake in shares of Ares Capital Corporation by 16.4% in the first quarter. PNC Financial Services Group Inc. now owns 59,220 shares of the investment management company’s stock worth $1,029,000 after buying an additional 8,354 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Ares Capital Corporation by 16.2% in the first quarter. California Public Employees Retirement System now owns 821,400 shares of the investment management company’s stock worth $14,276,000 after buying an additional 114,700 shares during the last quarter. P.A.W. Capital Corp increased its stake in shares of Ares Capital Corporation by 12.5% in the second quarter. P.A.W. Capital Corp now owns 108,000 shares of the investment management company’s stock worth $1,769,000 after buying an additional 12,000 shares during the last quarter. LGT Capital Partners LTD. increased its stake in shares of Ares Capital Corporation by 2.6% in the second quarter. LGT Capital Partners LTD. now owns 1,200,000 shares of the investment management company’s stock worth $19,656,000 after buying an additional 30,000 shares during the last quarter. Finally, Paragon Capital Management Ltd bought a new stake in shares of Ares Capital Corporation during the second quarter worth about $240,000. 45.86% of the stock is currently owned by hedge funds and other institutional investors.

About Ares Capital Corporation

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.

Analyst Recommendations for Ares Capital Corporation (NASDAQ:ARCC)




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