Ares Capital Corporation (NASDAQ:ARCC) finished Wednesday with a subtraction of $0.0 to close at $19.56, a downside of 0.00 percent. An average of 2,200,160 shares of common stock have been traded in the last five days. There was a gain of $0.06 in the past week, and it reached a new high 4 times over the past 12 months. The last 20 days have seen an average of 3,687,420 shares traded, while the 50-day average volume stands at 3,506,236.
ARCC stock has increased by 1.50% in the last month. The company shares reached their 1-month lowest point of $19.05 on 07/14/23. With the stock rallying to its 52-week high on 02/07/23, shares of the company touched a low of $16.51 and a high of $20.69 in 52 weeks. It has reached a new high 9 times so far this year and achieved 5.90% or $1.10 in price. In spite of this, the price is down -5.44% from the 52-week high.
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Valuation Metrics
Ares Capital Corporation (ARCC) has a trailing price-to-earnings (P/E) ratio of 11.93. The stock’s beta is 1.03. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.49, the price-to-book (PB) ratio at 1.05.
Financial Health
Its gross profit as reported stood at $1.15 billion compared to revenue of $2.1 billion.
Earnings Surprise
The analyst consensus anticipated Ares Capital Corporation’s latest quarter earnings to come in at $0.57 per share, but it turned out to be $0.58, a 1.80% surprise. For the quarter, EBITDA amounted to $468.0 million. At the end of the quarter ending June 29, Ares Capital Corporation’s stock balance sheet showed total debt was $11.47 billion. Shareholders own equity worth $557.38 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Ares Capital Corporation (ARCC) price momentum. RSI 9-day as of the close on 09 August was 54.37%, suggesting the stock is Neutral, with historical volatility in this time frame at 6.65%.
As of today, ARCC’s price is $19.59 +0.28% or $0.06 from its 5-day moving average. ARCC is currently trading +1.27% higher than its 20-day SMA and +12.25% higher than its 100-day SMA. However, the stock’s current price level is +3.63% above the SMA50 and +9.79% above the SMA200.
The stochastic %K and %D were 40.04% and 41.49%, respectively, and the average true range (ATR) was 0.23. With the 14-day stochastic at 37.01% and the average true range at 0.24, the RSI (14) stands at 56.41%. The stock has reached 0.04 on the 9-day MACD Oscillator while the 14-day reading was at 0.01.
Analyst Ratings
B. Riley Securities launched coverage on Ares Capital Corporation (NASDAQ: ARCC) in its analyst report released on June 16, 2023. The firm assigned the stock a Buy rating. The consensus rating for Ares Capital Corporation (ARCC) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ARCC, while 2 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 13 others rate it as a “buy”.
What is ARCC’s price target for the next 12 months?
Analysts predict a range of price targets between $19.75 and $24.00, with a median target of $21.00. Taking a look at these predictions, the average price target given by analysts for Ares Capital Corporation (ARCC) stock is $20.95.
