With over 4.48 million Ares Capital Corporation (ARCC) shares trading Tuesday and a closing price of $19.94 on the day, the dollar volume was approximately $89.25 million. The shares have shown a positive half year performance of 9.08% and its price on 12/26/23 gained nearly 0.91%. Currently, there are 569.44M common shares owned by the public and among those 565.33M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for ARCC have a consensus price objective of $20.94. The analysts have set the share’s price value over the next 12 months at a high of $24.00 and a low of $19.00. The average price target is 4.87% above its recent price level and a downside to the estimated low will see the stock lose -4.95% over that period. But an upside of 16.92% will see the stock hit the forecast high price target while median target price for the stock is $21.00.
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Insiders at the company have transacted a total of 2 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 2 of these insider trades were purchases, accounting for 18,000 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Ares Capital Corporation are ARIRANG Top10 US Listed Alternati, VanEck BDC Income ETF, and Border to Coast Listed Alternativ. ARIRANG Top10 US Listed Alternati owns 8.72 million shares of the company’s stock, all valued at over $172.78 million. The company bought an additional 8.72 million shares recently to bring their total holdings to about 1.53% of the shares outstanding. VanEck BDC Income ETF bought 20140.0 shares to see its total holdings expand to 7.87 million shares valued at over $156.06 million and representing 1.38% of the shares outstanding. Border to Coast Listed Alternativ bought 0.25 million shares to bring its total holdings to over 2.55 million shares at a value of $50.45 million. Border to Coast Listed Alternativ now owns shares totaling to 0.45% of the shares outstanding.
However, the script later moved the day high at 20.02, up 0.91%. The company’s stock has a 5-day price change of 0.96% and 3.75% over the past three months. ARCC shares are trading 7.96% year to date (YTD), with the 12-month market performance up to 9.68% higher. It has a 12-month low price of $16.95 and touched a high of $20.21 over the same period. ARCC has an average intraday trading volume of 3.30 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.56%, 2.01%, and 5.00% respectively.
Institutional ownership of Ares Capital Corporation (NASDAQ: ARCC) shares accounts for 30.05% of the company’s 569.44M shares outstanding. Mutual fund holders own –, while other institutional holders and individual stakeholders account for — and — respectively.
It has a market capitalization of $11.35B and a beta (3y monthly) value of 1.03. The stock’s trailing 12-month PE ratio is 8.63, while the earnings-per-share (ttm) stands at $2.31. Price movements for the stock have been influenced by the stock’s volatility, which stands at 0.95% over the week and 0.96% over the month.
Analysts forecast that Ares Capital Corporation (ARCC) will achieve an EPS of $0.6 for the current quarter, $0.59 for the next quarter and $2.33 for 2024. The lowest estimate earnings-per-share for the quarter is $0.58 while analysts give the company a high EPS estimate of $0.63. Comparatively, EPS for the current quarter was $0.63 a year ago. Earnings per share for the fiscal year are expected to increase by 15.80%, and -0.40% over the next financial year. EPS should shrink at an annualized rate of -0.90% over the next five years, compared to 5.34% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Ares Capital Corporation (ARCC) as a “Strong Buy” at a consensus score of 1.70. Specifically, 13 Wall Street analysts polled rate the stock as a buy, while 2 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the ARCC, a number of firms have released research notes about the stock. B. Riley Securities stated their Buy rating for the stock in a research note on June 16, 2023, with the firm’s price target at $20.50.
