Ares Capital Corporation (NASDAQ:ARCC) finished Wednesday with an addition of $0.11 to close at $19.18, an upside of 0.58 percent. An average of 2,297,240 shares of common stock have been traded in the last five days. There was a fall of -$0.13 in the past week, and it reached a new high 2 times over the past 12 months. The last 20 days have seen an average of 3,226,045 shares traded, while the 50-day average volume stands at 3,200,164.
ARCC stock has decreased by -1.18% in the last month. The company shares reached their 1-month lowest point of $19.06 on 08/22/23. 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 $20.53 in 52 weeks. It has reached a new high 9 times so far this year and achieved 3.84% or $0.71 in price. In spite of this, the price is down -6.58% from the 52-week high.
Valuation Metrics
Ares Capital Corporation (ARCC) has a trailing price-to-earnings (P/E) ratio of 11.70. The stock’s beta is 1.03. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.40, the price-to-book (PB) ratio at 1.03.
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 23 August was 39.59%, suggesting the stock is Neutral, with historical volatility in this time frame at 9.34%.
As of today, ARCC’s price is $19.20 -0.67% or -$0.13 from its 5-day moving average. ARCC is currently trading -3.18% lower than its 20-day SMA and +5.56% higher than its 100-day SMA. However, the stock’s current price level is +0.68% above the SMA50 and -0.98% below the SMA200.
The stochastic %K and %D were 18.63% and 22.79%, respectively, and the average true range (ATR) was 0.21. With the 14-day stochastic at 18.90% and the average true range at 0.22, the RSI (14) stands at 44.14%. The stock has reached -0.12 on the 9-day MACD Oscillator while the 14-day reading was at -0.22.
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.
