Gladstone Capital Corporation (GLAD) Expected to Post Quarterly Sales of $11.03 Million
Equities analysts expect that Gladstone Capital Corporation (NASDAQ:GLAD) will report $11.03 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Gladstone Capital Corporation’s earnings. The highest sales estimate is $11.08 million and the lowest is $10.98 million. Gladstone Capital Corporation reported sales of $9.75 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.1%. The company is scheduled to announce its next earnings report on Monday, November 20th.
On average, analysts expect that Gladstone Capital Corporation will report full-year sales of $11.03 million for the current financial year, with estimates ranging from $39.38 million to $39.48 million. For the next fiscal year, analysts expect that the firm will post sales of $46.21 million per share, with estimates ranging from $45.27 million to $47.14 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Gladstone Capital Corporation.
Gladstone Capital Corporation (NASDAQ:GLAD) last issued its quarterly earnings data on Wednesday, August 2nd. The investment management company reported $0.21 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.21. The firm had revenue of $9.63 million during the quarter, compared to analysts’ expectations of $10.30 million. Gladstone Capital Corporation had a net margin of 85.01% and a return on equity of 9.88%.
A number of equities analysts have commented on the stock. National Securities reiterated a “sell” rating and issued a $8.00 target price on shares of Gladstone Capital Corporation in a report on Monday, May 8th. Zacks Investment Research downgraded shares of Gladstone Capital Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Hilliard Lyons upgraded shares of Gladstone Capital Corporation from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $8.50 to $9.25 in a report on Thursday, May 4th. Finally, BidaskClub downgraded shares of Gladstone Capital Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One equities 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 company. Gladstone Capital Corporation has an average rating of “Hold” and a consensus target price of $9.56.
Gladstone Capital Corporation (NASDAQ GLAD) opened at 9.14 on Friday. The stock’s 50 day moving average is $9.74 and its 200-day moving average is $9.62. Gladstone Capital Corporation has a one year low of $7.33 and a one year high of $10.12.
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 issued a dividend of $0.07 per share. The ex-dividend date is Thursday, August 17th. This represents a $0.84 annualized dividend and a dividend yield of 9.19%. Gladstone Capital Corporation’s dividend payout ratio (DPR) is currently 62.22%.
Several institutional investors have recently bought and sold shares of the stock. Norges Bank bought a new position in Gladstone Capital Corporation during the fourth quarter valued at about $785,000. DnB Asset Management AS increased its position in Gladstone Capital Corporation by 31.3% in the first quarter. DnB Asset Management AS now owns 60,001 shares of the investment management company’s stock valued at $569,000 after buying an additional 14,300 shares during the period. Eqis Capital Management Inc. bought a new position in Gladstone Capital Corporation during the first quarter valued at about $141,000. Advisors Asset Management Inc. increased its position 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 period. Finally, Boston Partners increased its position in Gladstone Capital Corporation by 2.0% in the first quarter. Boston Partners now owns 84,430 shares of the investment management company’s stock valued at $801,000 after buying an additional 1,695 shares during the period. Hedge funds and other institutional investors own 15.63% of the company’s stock.
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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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