Ares Capital Corporation (ARCC) to Issue Quarterly Dividend of $0.38 on September 29th
Ares Capital Corporation (NASDAQ:ARCC) declared a quarterly dividend on Wednesday, August 2nd, Zacks reports. Stockholders of record on Friday, September 15th will be given a dividend of 0.38 per share by the investment management company on Friday, September 29th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 9.48%. The ex-dividend date is Thursday, September 14th.
Ares Capital Corporation (NASDAQ ARCC) opened at 16.04 on Wednesday. The stock’s 50 day moving average price is $16.20 and its 200-day moving average price is $16.76. Ares Capital Corporation has a 52-week low of $15.01 and a 52-week high of $17.87.
Ares Capital Corporation (NASDAQ:ARCC) last posted its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.02). Ares Capital Corporation had a net margin of 44.61% and a return on equity of 8.95%. The firm had revenue of $284.00 million during the quarter, compared to analysts’ expectations of $297.77 million. During the same quarter in the prior year, the firm posted $0.50 EPS. Analysts anticipate that Ares Capital Corporation will post $1.40 earnings per share for the current year.
Several equities research analysts have weighed in on ARCC shares. BidaskClub downgraded Ares Capital Corporation from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 8th. BMO Capital Markets restated a “hold” rating and set a $15.00 price target on shares of Ares Capital Corporation in a report on Friday, August 25th. Jefferies Group LLC restated a “buy” rating and set a $19.50 price target on shares of Ares Capital Corporation in a report on Friday, July 14th. Zacks Investment Research downgraded Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $18.50 price target on shares of Ares Capital Corporation in a report on Friday, June 16th. Two investment 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 currently has an average rating of “Hold” and a consensus target price of $18.06.
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.
Receive News & Ratings for Ares Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital Corporation and related companies with MarketBeat.com's FREE daily email newsletter.