$10.74 Million in Sales Expected for Gladstone Capital Corporation (GLAD) This Quarter
Wall Street brokerages forecast that Gladstone Capital Corporation (NASDAQ:GLAD) will report $10.74 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Gladstone Capital Corporation’s earnings, with the lowest sales estimate coming in at $10.59 million and the highest estimate coming in at $10.89 million. Gladstone Capital Corporation reported sales of $9.75 million in the same quarter last year, which indicates a positive year-over-year growth rate of 10.2%. The business is expected to issue its next earnings report on Monday, November 20th.
According to Zacks, analysts expect that Gladstone Capital Corporation will report full year sales of $10.74 million for the current fiscal year, with estimates ranging from $39.46 million to $40.16 million. For the next year, analysts forecast that the firm will post sales of $45.19 million per share, with estimates ranging from $45.01 million to $45.37 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that cover Gladstone Capital Corporation.
Gladstone Capital Corporation (NASDAQ:GLAD) last released its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.21 EPS for the quarter, meeting analysts’ consensus estimates of $0.21. Gladstone Capital Corporation had a return on equity of 9.88% and a net margin of 85.01%. The firm had revenue of $9.63 million for the quarter, compared to analysts’ expectations of $10.30 million.
Several research firms have commented on GLAD. BidaskClub raised shares of Gladstone Capital Corporation from a “sell” rating to a “hold” rating in a research note on Thursday. Hilliard Lyons raised shares of Gladstone Capital Corporation from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $8.50 to $9.25 in a research note on Thursday, May 4th. Zacks Investment Research raised shares of Gladstone Capital Corporation from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday, May 31st. Finally, National Securities reaffirmed a “sell” rating and issued a $8.00 target price on shares of Gladstone Capital Corporation in a research note on Monday, May 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.56.
Several hedge funds have recently made changes to their positions in the stock. Legal & General Group Plc boosted its stake in shares of Gladstone Capital Corporation by 4.5% in the second quarter. Legal & General Group Plc now owns 61,669 shares of the investment management company’s stock valued at $607,000 after buying an additional 2,634 shares in the last quarter. Advisors Asset Management Inc. raised its position in Gladstone Capital Corporation by 7.0% in the second quarter. Advisors Asset Management Inc. now owns 171,702 shares of the investment management company’s stock valued at $1,688,000 after buying an additional 11,189 shares during the last quarter. Boston Partners raised its position in Gladstone Capital Corporation by 0.3% in the second quarter. Boston Partners now owns 84,655 shares of the investment management company’s stock valued at $832,000 after buying an additional 225 shares during the last quarter. HL Financial Services LLC raised its position in Gladstone Capital Corporation by 71.6% in the second quarter. HL Financial Services LLC now owns 19,176 shares of the investment management company’s stock valued at $189,000 after buying an additional 8,000 shares during the last quarter. Finally, Eagle Global Advisors LLC raised its position in Gladstone Capital Corporation by 2.8% in the second quarter. Eagle Global Advisors LLC now owns 14,880 shares of the investment management company’s stock valued at $146,000 after buying an additional 400 shares during the last quarter. 15.94% of the stock is owned by institutional investors.
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The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Monday, August 21st will be paid a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, August 17th. This represents a $0.84 annualized dividend and a dividend yield of 8.47%. Gladstone Capital Corporation’s dividend payout ratio is presently 62.22%.
Gladstone Capital Corporation Company Profile
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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