Ares Capital Co. (NASDAQ:ARCC – Get Rating) – Research analysts at Jefferies Financial Group cut their FY2022 earnings estimates for shares of Ares Capital in a note issued to investors on Tuesday, April 26th. Jefferies Financial Group analyst J. Hecht now expects that the investment management company will earn $1.69 per share for the year, down from their prior estimate of $1.99.
ARCC has been the topic of several other research reports. Hovde Group raised Ares Capital from a “market perform” rating to an “outperform” rating in a research report on Wednesday. StockNews.com lowered shares of Ares Capital from a “hold” rating to a “sell” rating in a research report on Wednesday. Wells Fargo & Company lifted their price target on Ares Capital from $22.50 to $23.00 and gave the stock an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. raised shares of Ares Capital from a “neutral” rating to an “overweight” rating and set a $22.00 price target for the company in a research note on Wednesday. Finally, Raymond James increased their price objective on shares of Ares Capital from $22.00 to $23.00 and gave the stock an “outperform” rating in a research note on Thursday, February 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $22.39.
Ares Capital (NASDAQ:ARCC – Get Rating) last posted its quarterly earnings data on Tuesday, April 26th. The investment management company reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.47 by ($0.05). The company had revenue of $440.00 million for the quarter, compared to analyst estimates of $486.12 million. Ares Capital had a return on equity of 10.56% and a net margin of 86.10%. Ares Capital’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 EPS.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 31st. Stockholders of record on Tuesday, March 15th were paid a dividend of $0.42 per share. The ex-dividend date was Monday, March 14th. This is an increase from Ares Capital’s previous quarterly dividend of $0.41. This represents a $1.68 dividend on an annualized basis and a dividend yield of 8.02%. Ares Capital’s dividend payout ratio (DPR) is currently 47.73%.
In other Ares Capital news, Director Mary Beth Henson bought 6,000 shares of Ares Capital stock in a transaction that occurred on Monday, March 14th. The shares were bought at an average cost of $20.05 per share, with a total value of $120,300.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.58% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. J.W. Cole Advisors Inc. boosted its holdings in Ares Capital by 76.2% in the fourth quarter. J.W. Cole Advisors Inc. now owns 79,875 shares of the investment management company’s stock valued at $1,693,000 after purchasing an additional 34,540 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Ares Capital by 8.8% in the third quarter. Mackenzie Financial Corp now owns 188,977 shares of the investment management company’s stock valued at $3,842,000 after buying an additional 15,264 shares during the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Ares Capital by 20.7% in the fourth quarter. Stratos Wealth Partners LTD. now owns 146,207 shares of the investment management company’s stock valued at $3,098,000 after purchasing an additional 25,104 shares in the last quarter. Merriman Wealth Management LLC increased its stake in shares of Ares Capital by 2.0% in the 3rd quarter. Merriman Wealth Management LLC now owns 28,676 shares of the investment management company’s stock worth $583,000 after acquiring an additional 570 shares during the last quarter. Finally, Coastal Bridge Advisors LLC purchased a new position in Ares Capital during the third quarter worth about $897,000. 30.55% of the stock is currently owned by institutional investors and hedge funds.
Ares Capital Company Profile (Get Rating)
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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