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Ares Capital Corporation (NASDAQ:ARCC) Drops -1.99%, But A Strong Recovery May Be Imminent

In recent trading session, Ares Capital Corporation (NASDAQ:ARCC) saw 1.42 million shares changing hands at last check today with its beta currently measuring 0. Company’s recent per share price level of $17.49 trading at -$0.35 or -1.99% at last check today assigns it a market valuation of $9.02B. That most recent trading price of ARCC’s stock is at a discount of -30.87% from its 52-week high price of $22.89 and is indicating a premium of 2.8% from its 52-week low price of $17.00. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.63 million shares which gives us an average trading volume of 2.50 million if we extend that period to 3-months.

Ares Capital Corporation (NASDAQ:ARCC) trade information

Upright in the red during last session for losing -1.99%, in the last five days ARCC remained trading in the red while hitting it’s week-highest on Monday, 09/19/22 when the stock touched $17.49 price level, adding 7.9% to its value on the day. Ares Capital Corporation’s shares saw a change of -15.41% in year-to-date performance and have moved -6.55% in past 5-day. Ares Capital Corporation (NASDAQ:ARCC) showed a performance of -11.72% in past 30-days. Number of shares sold short was 18.26 million shares which calculate 8.96 days to cover the short interests.

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Ares Capital Corporation (ARCC) estimates and forecasts

Statistics highlight that Ares Capital Corporation is scoring comparatively higher than the scores of other players of the relevant industry. The company lost -12.70% of value to its shares in past 6 months, showing an annual growth rate of 16.27% while that of industry is 10.90. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 4.30% in the current quarter and calculating -12.10% decrease in the next quarter. This year revenue growth is estimated to fall -26.80% from the last financial year’s standing.

11 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $510.41 million for the same. And 11 analysts are in estimates of company making revenue of $529.03 million in the next quarter that will end on Dec 2022. Company posted $442 million and $674 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 15.50% while estimating it to be -21.50% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 5.44% during past 5 years. In 2022, company’s earnings growth rate is likely to be around -6.90% while estimates for its earnings growth in next 5 years are of -0.90%.

ARCC Dividends

Ares Capital Corporation is more likely to be releasing its next quarterly report between October 24 and October 28 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Ares Capital Corporation (NASDAQ:ARCC)’s Major holders

Insiders are in possession of 1.40% of company’s total shares while institution are holding 33.74 percent of that, with stock having share float percentage of 34.22%. Investors also watch the number of corporate investors in a company very closely, which is 33.74% institutions for Ares Capital Corporation that are currently holding shares of the company. Morgan Stanley is the top institutional holder at ARCC for having 11.58 million shares of worth $201.6 million. And as of Jun 29, 2022, it was holding 2.33% of the company’s outstanding shares.

The second largest institutional holder is Royal Bank of Canada, which was holding about 10.78 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 2.17% of outstanding shares, having a total worth of $187.8 million.

On the other hand, VanEck ETF Trust -VanEck BDC Income ETF and Payden Equity Income Fd are the top two Mutual Funds which own company’s shares. As of Aug 30, 2022, the former fund manager was holding 5.68 million shares of worth $98.99 million or 1.15% of the total outstanding shares. The later fund manager was in possession of 0.87 million shares on Apr 29, 2022, making its stake of worth around $15.09 million in the company or a holder of 0.17% of company’s stock.

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