Brokerages Expect Gladstone Capital Corporation (NASDAQ:GLAD) Will Post Quarterly Sales of $10.30 Million
Analysts expect Gladstone Capital Corporation (NASDAQ:GLAD) to report $10.30 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Gladstone Capital Corporation’s earnings, with the highest sales estimate coming in at $10.50 million and the lowest estimate coming in at $10.11 million. Gladstone Capital Corporation posted sales of $9.84 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.7%. The company is expected to report its next quarterly earnings results after the market closes on Wednesday, August 2nd.
On average, analysts expect that Gladstone Capital Corporation will report full year sales of $10.30 million for the current year, with estimates ranging from $39.46 million to $40.16 million. For the next financial year, analysts anticipate that the company will report sales of $45.19 million per share, with estimates ranging from $45.01 million to $45.37 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Gladstone Capital Corporation.
Gladstone Capital Corporation (NASDAQ:GLAD) last issued its quarterly earnings data on Wednesday, May 3rd. The investment management company reported $0.21 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.21. Gladstone Capital Corporation had a net margin of 82.86% and a return on equity of 10.03%. The company had revenue of $8.79 million during the quarter, compared to the consensus estimate of $9.78 million.
GLAD has been the subject of several analyst reports. Zacks Investment Research raised Gladstone Capital Corporation from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Wednesday, May 31st. DA Davidson reaffirmed a “buy” rating and set a $10.00 price objective on shares of Gladstone Capital Corporation in a research report on Wednesday, March 29th. Hilliard Lyons raised Gladstone Capital Corporation from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $8.50 to $9.25 in a research report on Thursday, May 4th. Finally, National Securities reaffirmed a “sell” rating and set a $8.00 price objective on shares of Gladstone Capital Corporation in a research report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Gladstone Capital Corporation currently has an average rating of “Hold” and an average price target of $9.56.
Gladstone Capital Corporation (GLAD) opened at 9.86 on Friday. The company has a 50-day moving average of $9.87 and a 200-day moving average of $9.53. Gladstone Capital Corporation has a 52-week low of $7.24 and a 52-week high of $10.12.
The company also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, August 21st will be issued a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 8.52%. The ex-dividend date is Thursday, August 17th. Gladstone Capital Corporation’s payout ratio is currently 62.22%.
Several hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new stake in Gladstone Capital Corporation during the second quarter valued at $1,946,000. UBS Group AG increased its stake in Gladstone Capital Corporation by 20.1% in the first quarter. UBS Group AG now owns 612,522 shares of the investment management company’s stock valued at $5,813,000 after buying an additional 102,605 shares during the last quarter. Norges Bank purchased a new stake in Gladstone Capital Corporation during the fourth quarter valued at $785,000. Advisors Asset Management Inc. increased its stake in Gladstone Capital Corporation by 61.1% in the first quarter. Advisors Asset Management Inc. now owns 160,513 shares of the investment management company’s stock valued at $1,523,000 after buying an additional 60,853 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Gladstone Capital Corporation by 35.8% in the first quarter. Van ECK Associates Corp now owns 195,135 shares of the investment management company’s stock valued at $1,852,000 after buying an additional 51,454 shares during the last quarter. 15.21% of the stock is owned by institutional investors and hedge funds.
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About Gladstone Capital Corporation
Gladstone Capital Corporation is a closed-end, non-diversified management investment company, operating as a business development company (BDC). The objectives of the Company are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and to provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities of established businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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