Ares Capital (NASDAQ:ARCC) has been given a $20.00 price target by investment analysts at Wedbush in a report released on Tuesday, TipRanks reports. The firm presently has a “buy” rating on the investment management company’s stock. Wedbush’s price target indicates a potential upside of 12.93% from the stock’s previous close. Wedbush also issued estimates for Ares Capital’s Q4 2019 earnings at $0.44 EPS, Q1 2020 earnings at $0.45 EPS, Q4 2020 earnings at $0.47 EPS and FY2020 earnings at $1.80 EPS.
ARCC has been the subject of a number of other research reports. BidaskClub downgraded Ares Capital from a “buy” rating to a “hold” rating in a research report on Tuesday, April 16th. Zacks Investment Research upgraded Ares Capital from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Friday, February 15th. JMP Securities boosted their target price on Ares Capital from $19.00 to $19.50 and gave the stock a “market outperform” rating in a research report on Wednesday, February 13th. Finally, National Securities boosted their target price on Ares Capital from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, February 13th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Ares Capital presently has an average rating of “Buy” and a consensus price target of $19.25.
Shares of ARCC opened at $17.71 on Tuesday. The company has a quick ratio of 2.47, a current ratio of 2.47 and a debt-to-equity ratio of 0.84. Ares Capital has a 52-week low of $14.50 and a 52-week high of $18.07. The firm has a market capitalization of $7.54 billion, a price-to-earnings ratio of 10.54 and a beta of 0.65.
Ares Capital (NASDAQ:ARCC) last released its earnings results on Tuesday, April 30th. The investment management company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.06. The company had revenue of $373.00 million during the quarter, compared to the consensus estimate of $337.96 million. Ares Capital had a return on equity of 10.12% and a net margin of 59.58%. During the same quarter in the previous year, the company posted $0.57 earnings per share. On average, equities research analysts forecast that Ares Capital will post 1.78 earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Parallel Advisors LLC grew its stake in shares of Ares Capital by 656.9% during the first quarter. Parallel Advisors LLC now owns 1,582 shares of the investment management company’s stock worth $27,000 after purchasing an additional 1,373 shares during the period. Capital Financial Planning LLC acquired a new stake in shares of Ares Capital during the fourth quarter worth $28,000. Howe & Rusling Inc. acquired a new stake in shares of Ares Capital during the first quarter worth $33,000. Lavaca Capital LLC acquired a new stake in shares of Ares Capital during the fourth quarter worth $32,000. Finally, Capital Investment Advisory Services LLC grew its stake in shares of Ares Capital by 344.9% during the first quarter. Capital Investment Advisory Services LLC now owns 2,149 shares of the investment management company’s stock worth $37,000 after purchasing an additional 1,666 shares during the period. Institutional investors own 39.15% of the company’s stock.
About Ares Capital
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.
Featured Article: Cost of Equity For A Business, Investors
Receive News & Ratings for Ares Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ares Capital and related companies with MarketBeat.com's FREE daily email newsletter.