Ares Capital Corporation (NASDAQ:ARCC) shares, rose in value, with the stock price up by 1.03% to the previous day’s close as strong demand from buyers drove the stock to $20.57.
Actively observing the price movement in the last trading, the stock closed the session at $20.36. The value of beta (5-year monthly) was 1.03 whereas the PE ratio was 7.68 over 12-month period. Referring to stock’s 52-week performance, its high was $20.86, and the low was $17.53. On the whole, ARCC has fluctuated by 0.88% over the past month.
With the market capitalization of Ares Capital Corporation currently standing at about $12.48 billion, investors are eagerly awaiting this quarter’s results, scheduled for May 01, 2024. The company’s Forward Dividend Ratio is 1.92, with its dividend yield at 9.33%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $0.59, which is expected to increase to $0.64 for fiscal year $2.37 and then to about $2.23 by fiscal year 2025.
Analysts have estimated the company’s revenue for the quarter at $700.13 million, with a low estimate of $685 million and a high estimate of $716.24 million. According to the average forecast, sales growth in current quarter could jump up 13.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.81 billion, representing a decrease of -2.20% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were 1 upward and no downward review(s) in last seven days. We see that ARCC’s technical picture suggests that short-term indicators denote the stock is a 100% Buy on average. However, medium term indicators have put the stock in the category of 100% Buy while long term indicators on average have been pointing out that it is a 100% Buy.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of ARCC currently trading nearly 1.18% and 1.54% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 55.96, while the 7-day volatility ratio is showing 1.25% which for the 30-day chart, stands at 1.10%. Furthermore, Ares Capital Corporation (ARCC)’s beta value is 1.03, and its average true range (ATR) is 0.24.
A comparison of Ares Capital Corporation (ARCC) with its peers suggests the former has fared considerably weaker in the market. ARCC showed an intraday change of 1.03% in last session, and over the past year, it grew by 13.52%%.
Data on historical trading for Ares Capital Corporation (NASDAQ:ARCC) indicates that the trading volumes over the past 10 days have averaged 3.7 million and over the past 3 months, they’ve averaged 3.77 million. According to company’s latest data on outstanding shares, there are 606.78 million shares outstanding.
Nearly 0.59% of Ares Capital Corporation’s shares belong to company insiders and institutional investors own 29.32% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 18.19 million shares as on Mar 15, 2024, resulting in a short ratio of 4.57. According to the data, the short interest in Ares Capital Corporation (ARCC) stood at 3.00% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 25.59 million. The stock has risen by 2.70% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the ARCC stock heading into the next quarter.
