Ares Capital Corp (NASDAQ:ARCC) price on current trading day, rose 0.76% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $23.22.
A look at the stock’s price movement, the level at last check in today’s session was $23.04. The PE ratio in trailing twelve months stood at 9.51. Turning to its 52-week performance, $23.84 and $19.32 were the 52-week high and 52-week low respectively. Overall, ARCC moved -1.38% over the past month.
Ares Capital Corp’s market cap currently stands at around $15.59 billion, with investors looking forward to this quarter’s earnings report slated for in March. The company has a Forward Dividend ratio of 1.92, with its dividend yield at 8.27%. As such, investors might be keen on an upside in the stock’s price ahead of the scheduled earnings report.
Analysts have a consensus estimate of 769.32M for the company’s revenue for the quarter, with a low and high estimate of 722M and 794.18M respectively. The average forecast suggests up to a 9.75% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 3.17B, representing a 5.89% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that ARCC is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 100% Buy category.
7 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 2 analyst(s) rate the stock as a Hold, 5 recommend ARCC as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
ARCC’s current price about 0.02% and 2.47% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 53.82, while 7-day volatility ratio is 1.28% and 1.53% in the 30-day chart. Further, Ares Capital Corp (ARCC) has a beta value of 1.06, and an average true range (ATR) of 0.32. Analysts have given the company’s stock an average 52-week price target of $21.75, forecast between a low of $20 and high of $24. Looking at the price targets, the low is 13.87% off recent price level in today’s trading while to achieve the yearly target high, it has to move -3.36%. Nonetheless, investors will most likely welcome a 6.33% jump to $21.75 which is the analysts’ median price.
If we refocus on Ares Capital Corp (NASDAQ:ARCC), historical trading data shows that trading volumes averaged 4.65 million over the past 3 months. The company’s latest data on shares outstanding shows there are 671.48 million shares.
The 0.98% of Ares Capital Corp’s shares are in the hands of company insiders while institutional holders own 30.74% of the company’s shares. Current price change has pushed the stock 6.05% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the ARCC stock continues to rise going into the next quarter.
