Ares Capital Corporation (NASDAQ:ARCC) finished Friday with a subtraction of -$0.17 to close at $19.47, a downside of -0.87 percent. An average of 3,236,220 shares of common stock have been traded in the last five days. There was a gain of $0.25 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 2,683,705 shares traded, while the 50-day average volume stands at 2,954,782.
ARCC stock has increased by 0.10% in the last month. The company shares reached their 1-month lowest point of $19.07 on 09/21/23. 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 $20.17 in 52 weeks. It has reached a new high 9 times so far this year and achieved 5.41% or $1.00 in price. In spite of this, the price is down -3.47% from the 52-week high.
Valuation Metrics
Ares Capital Corporation (ARCC) has a trailing price-to-earnings (P/E) ratio of 11.87. The stock’s beta is 1.02. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 4.47, the price-to-book (PB) ratio at 1.05.
The company has a payout ratio of 156.83%. The company’s most recent quarterly dividend payment was $0.48 a share, without any change from last year. Its latest increase dividend $0.45 reported on Wednesday February 9 2022.
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 29 September was 52.59%, suggesting the stock is Neutral, with historical volatility in this time frame at 16.87%.
As of today, ARCC’s price is $19.46 +1.30% or $0.25 from its 5-day moving average. ARCC is currently trading -0.10% lower than its 20-day SMA and +5.70% higher than its 100-day SMA.
The stochastic %K and %D were 60.73% and 51.45%, respectively, and the average true range (ATR) was 0.25. With the 14-day stochastic at 54.79% and the average true range at 0.23, the RSI (14) stands at 52.03%. The stock has reached 0.15 on the 9-day MACD Oscillator while the 14-day reading was at 0.12.
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.
