$5.14 Million in Sales Expected for Harvest Capital Credit Corporation (HCAP) This Quarter
Wall Street brokerages forecast that Harvest Capital Credit Corporation (NASDAQ:HCAP) will report $5.14 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Harvest Capital Credit Corporation’s earnings. The highest sales estimate is $5.15 million and the lowest is $5.14 million. Harvest Capital Credit Corporation reported sales of $4.73 million in the same quarter last year, which would suggest a positive year over year growth rate of 8.7%. The firm is scheduled to issue its next earnings report on Tuesday, August 8th.
On average, analysts expect that Harvest Capital Credit Corporation will report full year sales of $5.14 million for the current fiscal year, with estimates ranging from $20.60 million to $20.74 million. For the next financial year, analysts anticipate that the firm will post sales of $22.05 million per share, with estimates ranging from $21.61 million to $22.49 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Harvest Capital Credit Corporation.
Harvest Capital Credit Corporation (NASDAQ:HCAP) last released its earnings results on Wednesday, May 10th. The investment management company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $4.67 million during the quarter, compared to the consensus estimate of $5.07 million. Harvest Capital Credit Corporation had a net margin of 42.18% and a return on equity of 11.15%.
Several research firms have recently issued reports on HCAP. Zacks Investment Research lowered shares of Harvest Capital Credit Corporation from a “hold” rating to a “strong sell” rating in a research note on Monday, March 20th. Keefe, Bruyette & Woods set a $14.00 target price on shares of Harvest Capital Credit Corporation and gave the stock a “hold” rating in a research note on Wednesday, May 10th.
A hedge fund recently raised its stake in Harvest Capital Credit Corporation stock. Goldman Sachs Group Inc. increased its stake in shares of Harvest Capital Credit Corporation (NASDAQ:HCAP) by 18.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,344 shares of the investment management company’s stock after buying an additional 5,772 shares during the period. Goldman Sachs Group Inc. owned approximately 0.57% of Harvest Capital Credit Corporation worth $480,000 as of its most recent SEC filing. 7.53% of the stock is owned by hedge funds and other institutional investors.
Shares of Harvest Capital Credit Corporation (HCAP) traded up 0.5271% during mid-day trading on Friday, reaching $13.3701. 16,299 shares of the company’s stock were exchanged. Harvest Capital Credit Corporation has a 52-week low of $11.99 and a 52-week high of $14.88. The company’s 50-day moving average price is $13.17 and its 200 day moving average price is $13.69.
The business also recently declared a dividend, which will be paid on Thursday, July 27th. Investors of record on Thursday, July 20th will be given a dividend of $0.112 per share. The ex-dividend date is Tuesday, July 18th. Harvest Capital Credit Corporation’s payout ratio is currently 100.00%.
About Harvest Capital Credit Corporation
Harvest Capital Credit Corporation is an externally managed, closed-end, non-diversified management investment company. The Company operates as a business development company and provides customized financing solutions for small to mid-sized companies. Its investment objective is to generate both current income and capital appreciation by making direct investments in the form of subordinated debt, senior debt, and to a lesser extent, minority equity investments in privately-held the United States small to mid-sized companies.
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