Zacks: Brokerages Expect Alcentra Capital Corp. (NASDAQ:ABDC) Will Post Quarterly Sales of $8.81 Million
Brokerages expect Alcentra Capital Corp. (NASDAQ:ABDC) to announce $8.81 million in sales for the current fiscal quarter, Zacks Investment Research reports. Six analysts have made estimates for Alcentra Capital Corp.’s earnings, with estimates ranging from $8.10 million to $9.35 million. Alcentra Capital Corp. reported sales of $9.12 million during the same quarter last year, which indicates a negative year over year growth rate of 3.4%. The firm is expected to issue its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Alcentra Capital Corp. will report full year sales of $8.81 million for the current financial year, with estimates ranging from $32.80 million to $37.19 million. For the next financial year, analysts forecast that the business will report sales of $38.51 million per share, with estimates ranging from $34.90 million to $40.12 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Alcentra Capital Corp..
Several research firms have weighed in on ABDC. Raymond James Financial, Inc. lowered shares of Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $16.00 to $14.00 in a report on Monday, July 17th. DA Davidson began coverage on shares of Alcentra Capital Corp. in a report on Wednesday, July 5th. They issued a “buy” rating and a $15.00 target price on the stock. Keefe, Bruyette & Woods set a $14.00 target price on shares of Alcentra Capital Corp. and gave the company a “hold” rating in a report on Wednesday, May 31st. Finally, TheStreet lowered shares of Alcentra Capital Corp. from a “b” rating to a “c+” rating in a report on Monday, July 24th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $13.50.
In related news, Director Steven H. Reiff acquired 11,668 shares of the firm’s stock in a transaction dated Monday, August 7th. The shares were purchased at an average cost of $10.72 per share, for a total transaction of $125,080.96. Following the acquisition, the director now owns 7,000 shares in the company, valued at approximately $75,040. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Of New York Mellon Corp Bank sold 1,691,839 shares of the company’s 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 disclosure for this sale can be found here. Insiders own 4.96% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bank of Montreal Can bought a new position in shares of Alcentra Capital Corp. during the second quarter valued at approximately $163,000. Oppenheimer & Co. Inc. raised its position in shares of Alcentra Capital Corp. by 4.4% in the second quarter. Oppenheimer & Co. Inc. now owns 13,098 shares of the asset manager’s stock valued at $178,000 after buying an additional 550 shares in the last quarter. Creative Planning raised its position in shares of Alcentra Capital Corp. by 2.9% in the first quarter. Creative Planning now owns 20,570 shares of the asset manager’s stock valued at $283,000 after buying an additional 570 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of 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 valued at $396,000 after buying an additional 1,354 shares in the last quarter. Finally, Mackenzie Financial Corp bought a new position in shares of Alcentra Capital Corp. during the first quarter valued at approximately $491,000. Hedge funds and other institutional investors own 43.52% of the company’s stock.
Alcentra Capital Corp. (NASDAQ ABDC) opened at 10.74 on Friday. The firm’s 50 day moving average is $12.45 and its 200 day moving average is $13.12. Alcentra Capital Corp. has a 12-month low of $10.20 and a 12-month high of $14.73.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Saturday, September 30th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.36 annualized dividend and a yield of 12.66%. Alcentra Capital Corp.’s payout ratio is -1,700.00%.
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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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