Ares Capital Corporation (NASDAQ:ARCC) announced its earnings results on Thursday. The investment management company reported $0.36 EPS for the quarter, topping the Zacks’ consensus estimate of $0.35 by $0.01, Bloomberg Earnings reports. Ares Capital Corporation had a return on equity of 8.95% and a net margin of 44.61%. During the same period in the previous year, the company posted $0.43 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 9.59%. Ares Capital Corporation’s payout ratio is presently 117.83%.
A number of equities analysts recently commented on ARCC shares. TheStreet raised Ares Capital Corporation from a “c+” rating to a “b” rating in a report on Monday, August 7th. Keefe, Bruyette & Woods set a $19.00 target price on Ares Capital Corporation and gave the stock a “buy” rating in a report on Friday, October 6th. National Securities reaffirmed a “buy” rating and issued a $19.00 target price on shares of Ares Capital Corporation in a report on Monday, August 7th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $19.50 target price on shares of Ares Capital Corporation in a report on Friday, July 14th. Finally, BMO Capital Markets reaffirmed a “hold” rating and issued a $15.00 target price on shares of Ares Capital Corporation in a report on Friday, August 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” 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.
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