Ares Capital Corporation [NASDAQ: ARCC] gained 0.79% on the last trading session, reaching $20.49 price per share at the time. The company report on January 16, 2024 at 5:00 PM that Ares Capital Corporation Prices Public Offering of $1.00 Billion 5.875% Unsecured Notes Due 2029.
Ares Capital Corporation (Nasdaq: ARCC) announced that it has priced an underwritten public offering of $1.00 billion in aggregate principal amount of 5.875% notes due 2029. The notes will mature on March 1, 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.
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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, Santander US 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 & Co. LLC, Barclays Capital Inc., BNP Paribas Securities Corp., BNY Mellon Capital Markets, LLC, Capital One Securities, Inc., Goldman Sachs & Co. LLC, Natixis Securities Americas LLC, Regions Securities LLC and SG Americas Securities, LLC are acting as joint lead managers for this offering. ING Financial Markets LLC, R. Seelaus & Co., LLC, Academy Securities, Inc., Citigroup Global Markets Inc., Comerica Securities, Inc., Deutsche Bank Securities Inc., Keefe, Bruyette & Woods, Inc., Loop Capital Markets LLC, Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC are acting as co-managers for this offering. The offering is expected to close on January 23, 2024, subject to customary closing conditions.
If compared to the average trading volume of 3.43M shares, ARCC reached a trading volume of 2693908 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about Ares Capital Corporation [ARCC]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ARCC shares is $20.96 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ARCC stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
B. Riley Securities have made an estimate for Ares Capital Corporation shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 08, 2024.
The Average True Range (ATR) for Ares Capital Corporation is set at 0.19, with the Price to Sales ratio for ARCC stock in the period of the last 12 months amounting to 4.58. The Price to Book ratio for the last quarter was 1.08.
Trading performance analysis for ARCC stock
Ares Capital Corporation [ARCC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.04. With this latest performance, ARCC shares gained by 3.69% in over the last four-week period, additionally plugging by 3.43% over the last 6 months – not to mention a rise of 5.29% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ARCC stock in for the last two-week period is set at 61.70, with the RSI for the last a single of trading hit 63.58, and the three-weeks RSI is set at 60.36 for Ares Capital Corporation [ARCC]. The present Moving Average for the last 50 days of trading for this stock 19.99, while it was recorded at 20.40 for the last single week of trading, and 19.25 for the last 200 days.
Ares Capital Corporation [ARCC]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, Ares Capital Corporation posted 0.63/share EPS, while the average EPS was predicted by analysts to be reported at 0.56/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ARCC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Ares Capital Corporation go to -0.90%.
An analysis of Institutional ownership at Ares Capital Corporation [ARCC]
The top three institutional holders of ARCC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ARCC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ARCC stock with ownership which is approximately 5.8325%.
