TheStreet upgraded shares of Ares Capital Corporation (NASDAQ:ARCC) from a c+ rating to a b rating in a research note released on Monday morning.

Several other research analysts have also recently commented on the stock. BidaskClub cut shares of Ares Capital Corporation from a sell rating to a strong sell rating in a report on Tuesday. National Securities reaffirmed a buy rating and set a $19.00 target price on shares of Ares Capital Corporation in a report on Monday. Zacks Investment Research cut shares of Ares Capital Corporation from a hold rating to a sell rating in a report on Wednesday, August 2nd. Jefferies Group LLC reaffirmed a buy rating and set a $19.50 target price on shares of Ares Capital Corporation in a report on Friday, July 14th. Finally, Keefe, Bruyette & Woods reaffirmed a buy rating and set a $18.50 target price on shares of Ares Capital Corporation in a report on Friday, June 16th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $17.90.

Shares of Ares Capital Corporation (NASDAQ ARCC) traded down 0.580% during trading on Monday, reaching $16.275. The company had a trading volume of 354,956 shares. The firm has a 50 day moving average price of $16.39 and a 200 day moving average price of $16.97. Ares Capital Corporation has a 12 month low of $15.01 and a 12 month high of $17.87.

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

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.52 dividend on an annualized basis and a yield of 9.29%. Ares Capital Corporation’s dividend payout ratio (DPR) is 117.83%.

A number of hedge funds and other institutional investors have recently made changes to their positions in ARCC. Penserra Capital Management LLC boosted its position in shares of Ares Capital Corporation by 16.2% in the first quarter. Penserra Capital Management LLC now owns 5,913 shares of the investment management company’s stock worth $102,000 after buying an additional 825 shares during the period. Coconut Grove Bank boosted its position in shares of Ares Capital Corporation by 366.2% in the first quarter. Coconut Grove Bank now owns 6,480 shares of the investment management company’s stock worth $113,000 after buying an additional 5,090 shares during the period. Hudock Capital Group LLC boosted its position in shares of Ares Capital Corporation by 3.2% in the second quarter. Hudock Capital Group LLC now owns 6,500 shares of the investment management company’s stock worth $106,000 after buying an additional 200 shares during the period. Russell Investments Group Ltd. purchased a new position in shares of Ares Capital Corporation during the fourth quarter worth about $130,000. Finally, Global X Management Co. LLC boosted its position in shares of Ares Capital Corporation by 49.4% in the first quarter. Global X Management Co. LLC now owns 8,055 shares of the investment management company’s stock worth $140,000 after buying an additional 2,664 shares during the period. 48.34% of the stock is currently owned by institutional investors and hedge funds.

Ares Capital Corporation Company Profile

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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