$12.42 Million in Sales Expected for Capitala Finance Corp. (CPTA) This Quarter
Wall Street analysts expect Capitala Finance Corp. (NASDAQ:CPTA) to report sales of $12.42 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Capitala Finance Corp.’s earnings, with estimates ranging from $12.19 million to $12.76 million. Capitala Finance Corp. posted sales of $17.36 million during the same quarter last year, which would indicate a negative year over year growth rate of 28.5%. The company is scheduled to announce its next quarterly earnings report on Tuesday, November 14th.
According to Zacks, analysts expect that Capitala Finance Corp. will report full-year sales of $12.42 million for the current year, with estimates ranging from $51.76 million to $53.25 million. For the next year, analysts forecast that the firm will report sales of $55.37 million per share, with estimates ranging from $53.38 million to $56.63 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Capitala Finance Corp..
Capitala Finance Corp. (NASDAQ:CPTA) last announced its quarterly earnings results on Monday, August 7th. The investment management company reported $0.04 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.33). Capitala Finance Corp. had a net margin of 8.91% and a return on equity of 8.55%. The company had revenue of $12.36 million during the quarter, compared to analysts’ expectations of $15.11 million.
Several research analysts have commented on CPTA shares. Zacks Investment Research upgraded shares of Capitala Finance Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, July 11th. ValuEngine cut shares of Capitala Finance Corp. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods set a $15.00 target price on shares of Capitala Finance Corp. and gave the stock a “hold” rating in a research report on Wednesday, May 31st. Ladenburg Thalmann Financial Services restated a “neutral” rating on shares of Capitala Finance Corp. in a research report on Thursday, August 10th. Finally, TheStreet cut shares of Capitala Finance Corp. from a “b-” rating to a “c+” rating in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $15.32.
Capitala Finance Corp. (NASDAQ:CPTA) opened at 9.14 on Friday. The stock has a 50 day moving average price of $9.68 and a 200-day moving average price of $12.70. Capitala Finance Corp. has a one year low of $8.67 and a one year high of $14.80.
The business also recently disclosed a monthly dividend, which was paid on Wednesday, August 30th. Stockholders of record on Wednesday, August 23rd were issued a $0.13 dividend. This represents a $1.56 annualized dividend and a dividend yield of 17.07%. The ex-dividend date was Monday, August 21st. Capitala Finance Corp.’s dividend payout ratio (DPR) is presently 458.82%.
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In other Capitala Finance Corp. news, insider John F. Mcglinn bought 4,444 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was acquired at an average cost of $9.00 per share, with a total value of $39,996.00. Following the completion of the purchase, the insider now directly owns 112,485 shares in the company, valued at $1,012,365. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Larry W. Carroll bought 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were acquired at an average cost of $9.15 per share, with a total value of $183,000.00. Following the completion of the purchase, the director now owns 82,150 shares of the company’s stock, valued at $751,672.50. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 30,642 shares of company stock valued at $289,029. Company insiders own 8.40% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Stephens Inc. AR lifted its stake in Capitala Finance Corp. by 2.1% during the second quarter. Stephens Inc. AR now owns 114,352 shares of the investment management company’s stock valued at $1,488,000 after purchasing an additional 2,363 shares during the last quarter. Regent Investment Management LLC lifted its stake in Capitala Finance Corp. by 8.4% during the second quarter. Regent Investment Management LLC now owns 33,590 shares of the investment management company’s stock valued at $437,000 after purchasing an additional 2,600 shares during the last quarter. Eagle Global Advisors LLC lifted its stake in Capitala Finance Corp. by 12.7% during the second quarter. Eagle Global Advisors LLC now owns 30,171 shares of the investment management company’s stock valued at $393,000 after purchasing an additional 3,400 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in Capitala Finance Corp. by 2.2% during the second quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 374,320 shares of the investment management company’s stock valued at $4,870,000 after purchasing an additional 8,033 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in Capitala Finance Corp. during the second quarter valued at approximately $149,000. 28.24% of the stock is owned by institutional investors and hedge funds.
About Capitala Finance Corp.
Capitala Finance Corp. is an externally managed non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. Both directly and through its subsidiaries that are licensed by the United States Small Business Administration (SBA), the Company offers financing to business owners, management teams and financial sponsors for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives.
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