Zacks: Brokerages Anticipate Alcentra Capital Corp. (ABDC) to Announce $0.36 Earnings Per Share
Analysts expect that Alcentra Capital Corp. (NASDAQ:ABDC) will announce earnings of $0.36 per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Alcentra Capital Corp.’s earnings. The lowest EPS estimate is $0.34 and the highest is $0.37. Alcentra Capital Corp. reported earnings per share of $0.44 during the same quarter last year, which suggests a negative year over year growth rate of 18.2%. The company is expected to issue its next earnings results on Thursday, August 3rd.
According to Zacks, analysts expect that Alcentra Capital Corp. will report full year earnings of $1.42 per share for the current fiscal year, with EPS estimates ranging from $1.39 to $1.48. For the next fiscal year, analysts forecast that the company will report earnings of $1.50 per share, with EPS estimates ranging from $1.38 to $1.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Alcentra Capital Corp..
Several research analysts have weighed in on ABDC shares. TheStreet upgraded Alcentra Capital Corp. from a “c” rating to a “b-” rating in a research note on Monday, April 3rd. DA Davidson started coverage on Alcentra Capital Corp. in a research note on Wednesday, July 5th. They issued a “buy” rating and a $15.00 price target for the company. Keefe, Bruyette & Woods set a $14.00 price target on Alcentra Capital Corp. and gave the stock a “hold” rating in a research note on Wednesday, May 31st. Finally, Raymond James Financial, Inc. downgraded Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $16.00 to $14.00 in a research note on Monday. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $13.75.
In other news, major shareholder Of New York Mellon Corp Bank sold 1,691,839 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $13.13, for a total transaction of $22,213,846.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.96% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of Montreal Can purchased a new position in Alcentra Capital Corp. during the second quarter worth approximately $163,000. Creative Planning increased its position in Alcentra Capital Corp. by 2.9% in the first quarter. Creative Planning now owns 20,570 shares of the asset manager’s stock worth $283,000 after buying an additional 570 shares in the last quarter. Wells Fargo & Company MN increased its position in Alcentra Capital Corp. by 4.9% in the first quarter. Wells Fargo & Company MN now owns 28,835 shares of the asset manager’s stock worth $396,000 after buying an additional 1,354 shares in the last quarter. Mackenzie Financial Corp purchased a new position in Alcentra Capital Corp. during the first quarter worth approximately $491,000. Finally, Salzhauer Michael increased its position in Alcentra Capital Corp. by 62.6% in the second quarter. Salzhauer Michael now owns 47,292 shares of the asset manager’s stock worth $643,000 after buying an additional 18,200 shares in the last quarter. Hedge funds and other institutional investors own 43.59% of the company’s stock.
Shares of Alcentra Capital Corp. (NASDAQ:ABDC) traded up 1.13% during midday trading on Friday, reaching $12.49. 83,136 shares of the company were exchanged. Alcentra Capital Corp. has a 12-month low of $11.17 and a 12-month high of $14.73. The company has a 50 day moving average price of $13.28 and a 200-day moving average price of $13.24.
The company also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Friday, June 30th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 10.89%. Alcentra Capital Corp.’s dividend payout ratio is currently 340.00%.
Alcentra Capital Corp. Company Profile
Alcentra Capital Corporation is a specialty finance company that operates as a non-diversified, closed-end management investment company. The Company operates as a business development company and a regulated investment company. It provides customized debt and equity financing solutions to lower middle-market companies, which are companies having annual earnings, before interest, taxes, depreciation and amortization of between $5 million and $15 million, and/or revenues of between $10 million and $100 million.
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