Ares Capital Corporation (NASDAQ:ARCC) announced a quarterly dividend on Thursday, November 2nd, RTT News reports. Shareholders of record on Friday, December 15th will be paid a dividend of 0.38 per share by the investment management company on Friday, December 29th. This represents a $1.52 dividend on an annualized basis and a yield of 9.45%.
Ares Capital Corporation (NASDAQ:ARCC) last posted its earnings results on Thursday, November 2nd. The investment management company reported $0.36 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.01. Ares Capital Corporation had a return on equity of 8.95% and a net margin of 44.61%. During the same quarter last year, the firm posted $0.43 earnings per share.
Several research analysts have recently commented on the company. Keefe, Bruyette & Woods set a $19.00 price objective on Ares Capital Corporation and gave the stock a “buy” rating in a report on Friday, October 6th. Zacks Investment Research lowered Ares Capital Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. CIBC assumed coverage on Ares Capital Corporation in a report on Thursday, September 21st. They set an “outperform” rating and a $18.00 price objective for the company. Oppenheimer Holdings, Inc. assumed coverage on Ares Capital Corporation in a report on Thursday, September 21st. They set an “outperform” rating and a $18.00 price objective for the company. Finally, Citigroup Inc. assumed coverage on Ares Capital Corporation in a report on Wednesday, September 20th. They set an “outperform” rating and a $18.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $18.06.
Ares Capital Corporation Company Profile
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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