JMP Securities Maintains Ares Capital Corporation to Market Outperform with Price Target $17.00

Brokerage firm JMP Securities Maintains its rating on Ares Capital Corporation(NASDAQ:ARCC). In a research note issued to the investors, the brokerage major Raises the price-target to $17.00 per share. The shares have been rated Market Outperform. The rating by JMP Securities was issued on Aug 9, 2016.

In a different note, On Aug 4, 2016, Keefe Bruyette & Woods said it Maintains its rating on Ares Capital Corporation. In the research note, the firm Raises the price-target to $17.00 per share. The shares have been rated ‘Outperform’ by the firm. National Securities said it Initiates Coverage on Ares Capital Corporation, according to a research note issued on Jun 28, 2016. The shares have been rated ‘Neutral’ by the firm.

Ares Capital Corporation (ARCC) made into the market gainers list on Wednesdays trading session with the shares advancing 0.71% or 0.11 points. Due to strong positive momentum, the stock ended at $15.56, which is also near the day’s high of $15.62. The stock began the session at $15.49 and the volume stood at 11,54,595 shares. The 52-week high of the shares is $16.09 and the 52 week low is $11.01. The company has a current market capitalization of $4,885 M and it has 31,39,54,010 shares in outstanding.

Ares Capital Corporation has also declared a cash dividend of $0.3800 on Aug 3, 2016. The shares will quote ex-dividend on Sep 13, 2016 and the record date has been fixed on Sep 15, 2016. The dividend payable date has been fixed on Sep 30, 2016.

Ares Capital Corporation(ARCC) last announced its earnings results on Aug 3, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $245.26M. Analysts had an estimated revenue of $250.51M. Earnings per share were $0.39. Analysts had estimated an EPS of $0.38.

Several Insider Transactions has been reported to the SEC. On Jun 21, 2016, Steve Bartlett (director) purchased 200 shares at $14.20 per share price.Also, On Mar 15, 2016, R. Kipp Deveer (CEO) purchased 40,000 shares at $13.90 per share price.On Mar 10, 2016, Scott C Lem (CAO, VP & Treasurer) purchased 1,800 shares at $14.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Ares Capital Corporation is a specialty finance company that is engaged in closed-end non-diversified management investment businesses. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments investing invest primarily in United States middle-market companies. The Company primarily has three areas of focus: Corporate non-syndicated senior debt mezzanine debt and non-control equity to middle-market companies; Project Finance: high yield senior and mezzanine debt to finance power generation projects; Venture Finance senior secured loans to early-stage and emerging growth companies backed by venture capital firms. The Company invests in sectors such as Healthcare Services Business Services Education Energy Restaurants and Food Services Financial Services among others. The Company is externally managed by its investment adviser Ares Capital Management LLC.

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