|Over a week ago|
Ares Capital upgraded to Buy on NAV gains at Janney Montgomery Scott » 10:2710/2710/27/20
As previously reported,…
As previously reported, Janney Montgomery Scott analyst Mitchel Penn upgraded Ares Capital to Buy from Neutral with a fair value estimate of $16.50, up from $14, to reflect the recent gain in net asset value, or NAV, and the company's quarterly report. A portion of the company's unrealized losses taken in Q1 have been reversed, consistent with the credit spread narrowing seen in the public capital markets, and Penn has lowered the discount rate he is applying as the level of uncertainty from COVID has declined, the analyst added.
Ares Capital upgraded to Buy from Neutral at Janney Montgomery Scott » 10:1710/2710/27/20
Janney Montgomery Scott…
Janney Montgomery Scott upgraded Ares Capital to Buy from Neutral.
Ares Capital reports Q3 core EPS 39c, consensus 38c » 07:2410/2710/27/20
Reports Q3 NII per share…
Reports Q3 NII per share 39c vs. 50c last year. "We reported another strong quarter of core and GAAP earnings driven by stable credit performance, modestly improving corporate profitability and higher asset prices," said Kipp deVeer, CEO of Ares Capital. "With our extensive footprint, deep market relationships and a modestly improving economic outlook, we are seeing a material pickup in investment activity and high-quality investment opportunities."
|Over a month ago|
Jefferies to hold a virtual summit » 08:2009/0909/09/20
AINV, ARCC, BBDC, CPTA, CSWC, FSK, GAIN, HTGC, OCSL, PNNT
Inaugural US BDC Virtual…
Inaugural US BDC Virtual Summit will be held on September 9.
|Over a quarter ago|
Ares Capital price target raised to $17 from $15 at Citi » 06:2808/0508/05/20
Citi analyst Arren…
Citi analyst Arren Cyganovich raised the firm's price target on Ares Capital to $17 from $15 and keeps a Buy rating on the shares following the company's Q2 results. The quarter highlight Ares Capital's portfolio management expertise and its ability to maintain solid liquidity during stressed periods, Cyganovich tells investors in a research note.
Unusually active option classes on open August 4th » 09:4008/0408/04/20
PSTG, ARCC, ADT, BP, VALE, AZN, INTC, PINS, MO
Unusual total active…
Unusual total active option classes on open include: Pure Storage (PSTG), Ares Capital (ARCC), ADT (ADT), ProShares VIX Short Term Futures (VIXY), BP (BP), Vale (VALE), AstraZeneca (AZN), Intel (INTC), Pinterest (PINS), and Altria Group (MO).
Ares Capital reports Q2 Core EPS 39c, consensus 38c » 07:4208/0408/04/20
Reports Q2 NII per share…
Reports Q2 NII per share 39c vs. 49c last year. "Despite the difficulty our economy is experiencing from the global pandemic, we delivered strong second quarter core and GAAP earnings with growth in our net asset value," said Kipp deVeer, Chief Executive Officer of Ares Capital. "Our portfolio of primarily defensive, high quality, upper middle market companies remains well positioned, and we believe that the broad capabilities of our team and our available liquidity will enable us to capitalize on the improving market environment for new investments."
Largest borrow rate increases among liquid names » 08:4506/1606/16/20
EMAN, PYX, NXPI, PEI, DNR, APT, SRNE, ARCC, TAK
Latest data shows the…
Latest data shows the largest indicative borrow rate increases among liquid option names include: eMagin (EMAN) 42.69% +2.75, Pyxus International (PYX) 134.68% +2.44, NXP Semiconductors (NXPI) 2.50% +1.82, Direxion Oil & Gas 3x Bear ETF (DRIP) 16.45% +1.27, Pennsylvania REIT (PEI) 70.35% +0.60, Denbury Resources (DNR) 27.57% +0.33, Alpha Pro Tech (APT) 82.28% +0.23, Sorrento Therapeutics (SRNE) 26.74% +0.23, Ares Capital (ARCC) 0.58% +0.21, and Takeda Pharmaceutical (TAK) 0.80% +0.19.
Ares Capital price target raised to $15 from $13 at Citi » 06:3305/0705/07/20
Citi analyst Arren…
Citi analyst Arren Cyganovich raised the firm's price target on Ares Capital to $15 from $13 and keeps a Buy rating on the shares following the company's Q1 results. Ares appears well positioned to weather the economic weakness caused by the COVID-19 pandemic with significant liquidity and relationships with its portfolio company private equity sponsors, Cyganovich tells investors in a research note.
Ares Capital reports Q1 core EPS 41c, consensus 43c » 07:1805/0505/05/20
Reports Q1 NII 54c per…
Reports Q1 NII 54c per share. "With the extreme market volatility and economic disruption caused by the COVID-19 pandemic, we are relying on the deep knowledge, experienced team and proven investment philosophy that we have developed over the past 15 years as a public company," said Kipp deVeer, CEO of Ares Capital. "We believe we are operating from a position of relative strength as our portfolio is defensively positioned and has held up relatively well with a modest level of non-accruing loans. With our significant liquidity of more than $2.6 billion, we have the ability to support our existing borrowers and invest in increasingly attractive market conditions. We declared our second quarter cash dividend of 40c per share and expect to maintain a stable dividend for the foreseeable future."