Ares Capital Corporation (NASDAQ:ARCC) shares traded 0.75% higher at $18.72 on Wall Street last session.
In accordance with the data, 15 analysts cover Ares Capital Corporation (NASDAQ:ARCC). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $24.00 and a low of $18.00, we find $20.00. Given the previous closing price of $18.58, this indicates a potential upside of 7.64 percent. ARCC stock price is now 3.67% away from the 50-day moving average and -0.62% away from the 200-day moving average. The market capitalization of the company currently stands at $10.19B.
25-cent Stock Takes $11T Commodities Sector Digital
One brilliantly-run technology firm has successfully partnered with some of the largest players in the industry to bring a first-of-its-kind digital solution to the global commodities supply chain sector. Best of all, this upstart technology firm is currently trading undiscovered — below 25-cents per share — so very, very few investors know about it yet! For investors… it's an early-stage opportunity in a company that's bringing the US$11T global commodities sector straight into the 21st century.
All the details are in the FREE online report you can get here.
Sponsored
It has been rated a hold by 2 analysts and a buy by 12. Brokers who have rated the stock have averaged $20.43 as their price target over the next twelve months.
.
In other news, SCHNABEL MICHAEL KORT, Co-President bought 15,000 shares of the company’s stock on May 02. The stock was bought for $267,600 at an average price of $17.84. Upon completion of the transaction, the Co-President now directly owns 15,000 shares in the company, valued at $0.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 16, Chief Financial Officer ROLL PENELOPE F bought 3,000 shares of the business’s stock. A total of $52,320 was incurred on buying the stock at an average price of $17.44. This leaves the insider owning 60,500 shares of the company worth $1.13 million. A total of 1.38% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ARCC stock. A new stake in Ares Capital Corporation shares was purchased by FARMER STEVEN PATRICK during the first quarter worth $82,798,000. CINCTIVE CAPITAL MANAGEMENT LP invested $6,980,000 in shares of ARCC during the first quarter. In the first quarter, PARALLAX VOLATILITY ADVISERS, L.P. acquired a new stake in Ares Capital Corporation valued at approximately $6,365,000. JANUS HENDERSON GROUP PLC acquired a new stake in ARCC for approximately $3,254,000. CUBIST SYSTEMATIC STRATEGIES, LLC purchased a new stake in ARCC valued at around $2,926,000 in the second quarter. In total, there are 716 active investors with 31.45% ownership of the company’s stock.
Ares Capital Corporation (NASDAQ: ARCC) opened at $18.62 on Friday. During the past 12 months, Ares Capital Corporation has had a low of $16.51 and a high of $20.69. The fifty day moving average price for ARCC is $18.06 and a two-hundred day moving average price translates $18.85 for the stock.
The latest earnings results from Ares Capital Corporation (NASDAQ: ARCC) was released for Mar, 2023. According to the Asset Management Company, earnings per share came in at $0.57, missing analysts’ expectations of $0.59 by -0.02. This compares to $0.43 EPS in the same period last year. The company reported revenue of $618.0 million for the quarter, compared to $440.0 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 40.45 percent. For the current quarter, analysts expect ARCC to generate $621.81M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/30/2023. Investors who held shares on 06/15/2023 were paid a $0.48 dividend. On an annualized basis, this represents a $1.92 dividend and a 10.26% percent yield. There was an ex-dividend date of 06/14/2023 for this dividend. In terms of dividend payout ratio, ARCC is presently at 156.83%.
