Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors. The fund will also consider investments in industries such as restaurants, retail, oil and gas, and technology sectors. It focuses on investments in Northeast, Mid-Atlantic, Southeast and Southwest regions from its New York office, the Midwest region, from the Chicago office, and the Western region from the Los Angeles office. The fund typically invests between $20 million and $200 million and a maximum of $400 million in companies with an EBITDA between $10 million and $250 million. It makes debt investments between $10 million and $100 million The fund invests through revolvers, first lien loans, warrants, unitranche structures, second lien loans, mezzanine debt, private high yield, junior capital, subordinated debt, and non-control preferred and common equity. The fund also selectively considers third-party-led senior and subordinated debt financings and opportunistically considers the purchase of stressed and discounted debt positions. The fund prefers to be an agent and/or lead the transactions in which it invests. The fund also seeks board representation in its portfolio companies.
IPO Year: 2004
Exchange: NASDAQ
Website: arescapitalcorp.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 1/8/2024 | $21.00 | Buy → Neutral | B. Riley Securities |
| 6/16/2023 | $20.50 | Buy | B. Riley Securities |
| 4/18/2023 | $20.00 → $18.00 | Overweight → Equal Weight | Wells Fargo |
| 4/28/2022 | Market Perform → Outperform | Hovde Group | |
| 4/27/2022 | $22.00 | Neutral → Overweight | JP Morgan |
| 3/7/2022 | $22.50 | Market Perform | Hovde Group |
| 2/10/2022 | $22.00 → $23.00 | Outperform | Raymond James |
| 12/3/2021 | $22.00 | Buy | Janney Montgomery Scott |
| 10/27/2021 | $21.00 → $22.00 | Outperform | Raymond James |
| 10/25/2021 | $22.00 → $22.75 | Overweight | Wells Fargo |
DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a fourth quarter 2024 dividend of $0.48 per share. The fourth quarter 2024 dividend is payable on December 30, 2024 to stockholders of record as of December 13, 2024. SEPTEMBER 30, 2024 FINANCIAL RESULTS Ares Capital also announced financial results for its third quarter ended September 30, 2024. OPERATING RESULTS Q3-24(1) Q3-23(1) (dollar amounts in millions, except per share data) Total Amount Per Share Total Amount Per Share GAAP net income per share(2)(3) $ 0.62
Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that it will report earnings for the third quarter ended September 30, 2024 on Wednesday, October 30, 2024 prior to the opening of the Nasdaq Global Select Market. Ares Capital invites all interested persons to attend its webcast/conference call at 12:00 p.m. (Eastern Time) on the same day to discuss its third quarter ended September 30, 2024 financial results. All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at www.arescapitalcorp.com. Please visit the website to test you
DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a third quarter 2024 dividend of $0.48 per share. The third quarter 2024 dividend is payable on September 30, 2024 to stockholders of record as of September 13, 2024. JUNE 30, 2024 FINANCIAL RESULTS Ares Capital also announced financial results for its second quarter ended June 30, 2024. OPERATING RESULTS Q2-24(1) Q2-23(1) (dollar amounts in millions, except per share data) Total Amount Per Share Total Amount Per Share GA
ARES CAPITAL CORPORATION SCHEDULES EARNINGS RELEASE FORTHE SECOND QUARTER ENDED JUNE 30, 2024NEW YORK, NY - July 2, 2024 - Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that it will report earnings for the second quarter ended June 30, 2024 on Tuesday, July 30, 2024 prior to the opening of the Nasdaq Global Select Market. Ares Capital invites all interested persons to attend its webcast/conference call at 10:00 a.m. (Eastern Time) on the same day to discuss its second quarter ended June 30, 2024 financial results.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the
DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a second quarter 2024 dividend of $0.48 per share. The second quarter 2024 dividend is payable on June 28, 2024 to stockholders of record as of June 14, 2024. MARCH 31, 2024 FINANCIAL RESULTS Ares Capital also announced financial results for its first quarter ended March 31, 2024. OPERATING RESULTS Q1-24(1) Q1-23(1) (dollar amounts in millions, except per share data) Total Amount Per Share Total Amount Per Share GAAP net
NEW YORK, NY / ACCESSWIRE / April 3, 2024 / Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that it will report earnings for the first quarter ended March 31, 2024 on Wednesday, May 1, 2024 prior to the opening of the Nasdaq Global Select Market. Ares Capital invites all interested persons to attend its webcast/conference call at 10:00 a.m. (Eastern Time) on the same day to discuss its first quarter ended March 31, 2024 financial results.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at www.arescapitalcorp.com. Please v
DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a first quarter 2024 dividend of $0.48 per share. The first quarter 2024 dividend is payable on March 29, 2024 to stockholders of record as of March 15, 2024. DECEMBER 31, 2023 FINANCIAL RESULTS Ares Capital also announced financial results for its fourth quarter and year ended December 31, 2023. OPERATING RESULTS Q4-23(1) Q4-22(1) FY-23 FY-22 (dollar amounts in millions, except per share data) Total Amount Per Share Total Amount
NEW YORK, NY / ACCESSWIRE / January 31, 2024 / Ares Capital Corporation ("Ares Capital" or the "Company") (NASDAQ:ARCC) announced today the tax treatment of the Company's 2023 common stock distributions (CUSIP #: 04010L103).Record DatePayable DateTotal Paid Per ShareOrdinary Income Per ShareLong Term Capital Gains per Share (2)Interest - Related Dividends (3) Ordinary Rate20% Rate (1) 3/15/20233/31/2023$0.4800$0.47257$0.00743$0.000076.8425% 6/15/20236/30/2023$0.4800$ 0.47257$0. 00743$0.000076.8425% 9/15/20239/29/2023$0.4800$0.47257$0. 00743$0.000076.8425% 12/15/202312/28/2023$0.4800$. 0.46847$0. 00736$0.0041790.9876% $1. 9200$1.88618$0.02965$0.00417 % of Total Dividends Paid Per Share100.
NEW YORK, NY / ACCESSWIRE / January 3, 2024 / Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that it will report earnings for the fourth quarter and fiscal year ended December 31, 2023 on Wednesday, February 7, 2024 prior to the opening of the Nasdaq Global Select Market. Ares Capital invites all interested persons to attend its webcast/conference call at 11:00 a.m. (Eastern Time) on the same day to discuss its fourth quarter and fiscal year ended December 31, 2023 financial results.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of o
DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a fourth quarter 2023 dividend of $0.48 per share. The fourth quarter 2023 dividend is payable on December 28, 2023 to stockholders of record as of December 15, 2023. SEPTEMBER 30, 2023 FINANCIAL RESULTS Ares Capital also announced financial results for its third quarter ended September 30, 2023. OPERATING RESULTS Q3-23(1) Q3-22(1) (dollar amounts in millions, except per share data) Total Amount Per Share Total Amount Per Share GAAP net
Michael Smith and Mitch Goldstein Appointed as Co-Chairmen of Board of Directors Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that James ("Jim") R. Miller was appointed as Co-President to serve alongside current Co-President, Kort Schnabel. Concurrently, Ares Capital's Board of Directors was expanded by one member. Mitchell ("Mitch") Goldstein joined Ares Capital's Board of Directors, and Mitch Goldstein and Michael L. Smith have been appointed to serve as Co-Chairmen of Ares Capital's Board of Directors. Michael Arougheti will cease to serve as Chairman of Ares Capital's Board of Directors but will continue to serve as a Director. Kipp deVeer will continue in hi
Penni Roll to Step Down as Chief Financial Officer of Ares Capital Corporation Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that Ares Capital's Chief Accounting Officer, Vice President and Treasurer, Scott Lem, has been appointed as its new Chief Financial Officer, effective February 15, 2024. Mr. Lem succeeds Penni Roll, who plans to step down as Ares Capital's Chief Financial Officer, effective the same date. Ms. Roll, who also serves as the Chief Financial Officer of Ares Management Corporation's ("Ares") Credit Group, will remain an officer of Ares Capital and at Ares in a senior leadership capacity. Since joining Ares in 2003, Mr. Lem has served in a numb
Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that Jana Markowicz was appointed as its Chief Operating Officer (COO). In this newly created role, Ms. Markowicz will also serve as COO of Ares Management's ("Ares") U.S. Direct Lending strategy where she will collaborate with the U.S. Direct Lending Co-Heads and Investment Committee members in the management of the team and strategy. Ms. Markowicz joined Ares in 2005 as a member of the U.S. Direct Lending investment team, supporting in the negotiation and origination of private credit transactions. She has been instrumental in the growth of Ares' U.S. Direct Lending strategy, serving as Partner, Head of Product Manag
Michael Smith and Mitch Goldstein Appointed as Co-Chairmen of Board of Directors Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that James ("Jim") R. Miller was appointed as Co-President to serve alongside current Co-President, Kort Schnabel. Concurrently, Ares Capital's Board of Directors was expanded by one member. Mitchell ("Mitch") Goldstein joined Ares Capital's Board of Directors, and Mitch Goldstein and Michael L. Smith have been appointed to serve as Co-Chairmen of Ares Capital's Board of Directors. Michael Arougheti will cease to serve as Chairman of Ares Capital's Board of Directors but will continue to serve as a Director. Kipp deVeer will continue in hi
DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a fourth quarter 2024 dividend of $0.48 per share. The fourth quarter 2024 dividend is payable on December 30, 2024 to stockholders of record as of December 13, 2024. SEPTEMBER 30, 2024 FINANCIAL RESULTS Ares Capital also announced financial results for its third quarter ended September 30, 2024. OPERATING RESULTS Q3-24(1) Q3-23(1) (dollar amounts in millions, except per share data) Total Amount Per Share Total Amount Per Share GAAP net income per share(2)(3) $ 0.62
Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that it will report earnings for the third quarter ended September 30, 2024 on Wednesday, October 30, 2024 prior to the opening of the Nasdaq Global Select Market. Ares Capital invites all interested persons to attend its webcast/conference call at 12:00 p.m. (Eastern Time) on the same day to discuss its third quarter ended September 30, 2024 financial results. All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at www.arescapitalcorp.com. Please visit the website to test you
DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a third quarter 2024 dividend of $0.48 per share. The third quarter 2024 dividend is payable on September 30, 2024 to stockholders of record as of September 13, 2024. JUNE 30, 2024 FINANCIAL RESULTS Ares Capital also announced financial results for its second quarter ended June 30, 2024. OPERATING RESULTS Q2-24(1) Q2-23(1) (dollar amounts in millions, except per share data) Total Amount Per Share Total Amount Per Share GA
ARES CAPITAL CORPORATION SCHEDULES EARNINGS RELEASE FORTHE SECOND QUARTER ENDED JUNE 30, 2024NEW YORK, NY - July 2, 2024 - Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that it will report earnings for the second quarter ended June 30, 2024 on Tuesday, July 30, 2024 prior to the opening of the Nasdaq Global Select Market. Ares Capital invites all interested persons to attend its webcast/conference call at 10:00 a.m. (Eastern Time) on the same day to discuss its second quarter ended June 30, 2024 financial results.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the
Live Video Stream to Begin at 1:15 p.m. ET NEW YORK, NY / ACCESSWIRE / May 10, 2024 / Ares Capital Corporation (NASDAQ:ARCC) will host an Investor Day on Tuesday, May 21, 2024 via a live video stream. During the event, members of the Company's senior leadership team will provide an update on the firm's business and outlook. The presentation will begin at 1:15 p.m. Eastern Time.To register for the event and to access the Investor Day presentation and live video stream, please visit the Investor Resources section of the Company's website at ir.arescapitalcorp.com. A replay of the event will also be made available on the Investor Resources section of the Company's website shortly after the even
Ares Capital Corporation (NASDAQ:ARCC) announced that it has priced an underwritten public offering of $850 million in aggregate principal amount of 5.950% notes due 2029. The notes will mature on July 15, 2029, and may be redeemed in whole or in part at Ares Capital's option at any time at par plus a "make-whole" premium, if applicable. BofA Securities, Inc., J.P. Morgan Securities LLC, SMBC Nikko Securities America, Inc., Wells Fargo Securities, LLC, Mizuho Securities USA LLC, MUFG Securities Americas Inc., RBC Capital Markets, LLC and Truist Securities, Inc. are acting as joint book-running managers for this offering. CIBC World Markets Corp., ICBC Standard Bank Plc, Morgan Stanley & C
DIVIDEND DECLARATIONS Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced that its Board of Directors has declared a second quarter 2024 dividend of $0.48 per share. The second quarter 2024 dividend is payable on June 28, 2024 to stockholders of record as of June 14, 2024. MARCH 31, 2024 FINANCIAL RESULTS Ares Capital also announced financial results for its first quarter ended March 31, 2024. OPERATING RESULTS Q1-24(1) Q1-23(1) (dollar amounts in millions, except per share data) Total Amount Per Share Total Amount Per Share GAAP net
NEW YORK, NY / ACCESSWIRE / April 3, 2024 / Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that it will report earnings for the first quarter ended March 31, 2024 on Wednesday, May 1, 2024 prior to the opening of the Nasdaq Global Select Market. Ares Capital invites all interested persons to attend its webcast/conference call at 10:00 a.m. (Eastern Time) on the same day to discuss its first quarter ended March 31, 2024 financial results.All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at www.arescapitalcorp.com. Please v
NEW YORK, NY / ACCESSWIRE / February 27, 2024 / Ares Capital Corporation ("Ares Capital") (NASDAQ:ARCC) announced today that Kort Schnabel, Ares Capital's Co-President, is scheduled to present at the RBCCM Global Financial Institutions Conference on Wednesday, March 6, 2024 at 2:40pm ET.A live audio webcast of the presentation will be available in the Investor Resources section of the Company's website at www.arescapitalcorp.com. For those unable to listen to the live audio webcast, a replay will be available on the Company's website shortly after the event.About Ares Capital CorporationFounded in 2004, Ares Capital is a leading specialty finance company focused on providing direct loans and
Ares Capital's (NYSE:ARCC) short percent of float has fallen 8.08% since its last report. The company recently reported that it has 16.66 million shares sold short, which is 2.73% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.1 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interest
Throughout the last three months, 5 analysts have evaluated Ares Capital (NASDAQ:ARCC), offering a diverse set of opinions from bullish to bearish. Summarizing their recent assessments, the table below illustrates the evolving sentiments in the past 30 days and compares them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 4 0 0 0 Last 30D 0 1 0 0 0 1M Ago 1 2 0 0 0 2M Ago 0 1 0 0 0 3M Ago 0 0 0 0 0 Insights from analysts' 12-month price targets are revealed, presenting an average target of $22.0, a high estimate of $23.00, and a low estimate of $21.00. Surpassing the previous average price target of $21.50, the curren
RBC Capital analyst Kenneth Lee reiterates Ares Capital (NASDAQ:ARCC) with a Outperform and maintains $22 price target.
Ares Capital's (NYSE:ARCC) short percent of float has fallen 11.59% since its last report. The company recently reported that it has 16.09 million shares sold short, which is 2.67% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.91 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises. Short interes
JP Morgan analyst Melissa Wedel maintains Ares Capital (NASDAQ:ARCC) with a Overweight and raises the price target from $21.5 to $22.
Truist Securities analyst Mark Hughes maintains Ares Capital (NASDAQ:ARCC) with a Buy and raises the price target from $22 to $23.
Oppenheimer analyst Mitchel Penn maintains Ares Capital (NASDAQ:ARCC) with a Outperform and raises the price target from $21 to $22.
Ares Capital (NASDAQ:ARCC) reported quarterly earnings of $0.59 per share which missed the analyst consensus estimate of $0.60 by 1.67 percent. This is a 3.51 percent increase over earnings of $0.57 per share from the same period last year. The company reported quarterly sales of $701.000 million which beat the analyst consensus estimate of $700.133 million by 0.12 percent. This is a 13.43 percent increase over sales of $618.000 million the same period last year.
JMP Securities analyst Devin Ryan reiterates Ares Capital (NASDAQ:ARCC) with a Market Outperform and maintains $21 price target.
10-Q - ARES CAPITAL CORP (0001287750) (Filer)
8-K - ARES CAPITAL CORP (0001287750) (Filer)
8-K - ARES CAPITAL CORP (0001287750) (Filer)
8-K - ARES CAPITAL CORP (0001287750) (Filer)
40-17G - ARES CAPITAL CORP (0001287750) (Filer)
40-APP/A - ARES CAPITAL CORP (0001287750) (Filer)
8-K - ARES CAPITAL CORP (0001287750) (Filer)
8-K - ARES CAPITAL CORP (0001287750) (Filer)
10-Q - ARES CAPITAL CORP (0001287750) (Filer)
8-K - ARES CAPITAL CORP (0001287750) (Filer)
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B. Riley Securities downgraded Ares Capital from Buy to Neutral and set a new price target of $21.00
B. Riley Securities initiated coverage of Ares Capital with a rating of Buy and set a new price target of $20.50
Wells Fargo downgraded Ares Capital from Overweight to Equal Weight and set a new price target of $18.00 from $20.00 previously
Hovde Group upgraded Ares Capital from Market Perform to Outperform
JP Morgan upgraded Ares Capital from Neutral to Overweight and set a new price target of $22.00
Hovde Group initiated coverage of Ares Capital with a rating of Market Perform and set a new price target of $22.50
Raymond James reiterated coverage of Ares Capital with a rating of Outperform and set a new price target of $23.00 from $22.00 previously
Janney Montgomery Scott initiated coverage of Ares Capital with a rating of Buy and set a new price target of $22.00
Raymond James reiterated coverage of Ares Capital with a rating of Outperform and set a new price target of $22.00 from $21.00 previously
Wells Fargo reiterated coverage of Ares Capital with a rating of Overweight and set a new price target of $22.75 from $22.00 previously