Ares Capital Corporation (NASDAQ:ARCC) – Analysts See The Stock Differently Today

In the last trading session, 4.73 million shares of the Ares Capital Corporation (NASDAQ:ARCC) were traded, and its beta was 1.03. Most recently the company’s share price was $20.39, and it changed around -$0.43 or -2.07% from the last close, which brings the market valuation of the company to $12.37B. ARCC currently trades at a discount to its 52-week high of $20.86, offering almost -2.31% off that amount. The share price’s 52-week low was $17.53, which indicates that the current value has risen by an impressive 14.03% since then. We note from Ares Capital Corporation’s average daily trading volume that its 10-day average is 4.13 million shares, with the 3-month average coming to 3.85 million.

Ares Capital Corporation stock received a consensus recommendation rating of Buy, based on a mean score of 1.90. If we narrow it down even further, the data shows that 0 out of 14 analysts rate the stock as a Sell; another 4 rate it as Overweight. Among the rest, 4 recommended ARCC as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Ares Capital Corporation is expected to report earnings per share of $0.59 for the current quarter.

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Ares Capital Corporation (NASDAQ:ARCC) trade information

Instantly ARCC has showed a red trend with a performance of -2.07% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently up 1.80% year-to-date, but still up 2.00% over the last five days. On the other hand, Ares Capital Corporation (NASDAQ:ARCC) is 0.79% up in the 30-day period. We can see from the shorts that 18.19 million shares have been sold at a short interest cover period of 4.57 day(s).

The consensus price target as assigned by Wall Street analysts is $21.43, which translates to bulls needing to increase their stock price by 4.85% from its current value. Analyst projections state that ARCC is forecast to be at a low of $20 and a high of $24.

Ares Capital Corporation (ARCC) estimates and forecasts

Ares Capital Corporation share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 3.82 percent over the past six months and at a -1.27% annual growth rate that is well above the industry average of -5.70%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 3.50% in revenue this quarter, and will report an increase of 3.40% in the next quarter. The year-over-year growth rate is expected to be -2.40%, down from the previous year.

Consensus estimates provided by 9 financial analysts predict the company will bring in an average of $699.55 million in revenue for the current quarter. 9 analysts expect Ares Capital Corporation to make $705.12 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $618 million and $622.05 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 13.20%. Forecasts for the next quarter put sales growth at 13.40%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 6.30%. Ares Capital Corporation earnings are expected to increase by -0.40% in 2024, but the outlook is negative -0.90% per year for the next five years.

ARCC Dividends

Ares Capital Corporation’s next quarterly earnings report is expected to be released around April 23 and April 29. The annual dividend yield of the stock is 9.42 percent and its annual dividend per share was 1.92. It is important to note, however, that the 9.42% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

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

Upon looking at major shareholders, it appears that insiders hold 0.59% of Ares Capital Corporation shares, and 29.32% of them are in the hands of institutional investors. The stock currently has a share float of 29.50%. Ares Capital Corporation stock is held by 774 institutions, with Royal Bank of Canada being the largest institutional investor. By Jun 29, 2023, it held 2.15% of the shares, which is about 12.0 million shares worth $225.47 million.

Morgan Stanley, with 2.02% or 11.25 million shares worth $211.4 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

VanEck ETF Trust -VanEck BDC Income ETF and Columbia Fds Ser Tr II-Columbia Flexible Capital Income Fd were the top two Mutual Funds as of Sep 29, 2023. The former held 7.43 million shares worth $144.61 million, making up 1.33% of all outstanding shares. On the other hand, Columbia Fds Ser Tr II-Columbia Flexible Capital Income Fd held roughly 0.8 million shares worth around $14.99 million, which represents about 0.14% of the total shares outstanding.