OFS Capital Corporation (OFS) Expected to Announce Quarterly Sales of $8.77 Million
Wall Street brokerages expect OFS Capital Corporation (NASDAQ:OFS) to announce $8.77 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for OFS Capital Corporation’s earnings, with the highest sales estimate coming in at $9.09 million and the lowest estimate coming in at $8.45 million. OFS Capital Corporation posted sales of $7.36 million in the same quarter last year, which suggests a positive year over year growth rate of 19.2%. The firm is expected to report its next quarterly earnings report on Friday, November 3rd.
On average, analysts expect that OFS Capital Corporation will report full year sales of $8.77 million for the current financial year, with estimates ranging from $33.11 million to $34.40 million. For the next financial year, analysts expect that the business will report sales of $37.57 million per share, with estimates ranging from $35.45 million to $39.68 million. Zacks’ sales averages are an average based on a survey of analysts that cover OFS Capital Corporation.
OFS Capital Corporation (NASDAQ:OFS) last issued its quarterly earnings data on Friday, August 4th. The investment management company reported $0.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.03. OFS Capital Corporation had a return on equity of 9.43% and a net margin of 31.02%. The company had revenue of $7.98 million during the quarter, compared to analysts’ expectations of $8.53 million.
Several brokerages have recently issued reports on OFS. Zacks Investment Research upgraded shares of OFS Capital Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday. Robert W. Baird lowered shares of OFS Capital Corporation from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $13.00 in a research note on Monday, August 7th. Finally, National Securities reaffirmed a “buy” rating and issued a $16.00 price objective on shares of OFS Capital Corporation in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $14.25.
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Shares of OFS Capital Corporation (NASDAQ:OFS) opened at 13.15 on Wednesday. The stock’s 50 day moving average price is $13.07 and its 200-day moving average price is $13.86. OFS Capital Corporation has a one year low of $12.25 and a one year high of $15.24.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 10.34%. The ex-dividend date of this dividend was Thursday, September 14th. OFS Capital Corporation’s dividend payout ratio (DPR) is presently 125.93%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in OFS. Muzinich & Co. Inc. boosted its holdings in OFS Capital Corporation by 258.1% in the 2nd quarter. Muzinich & Co. Inc. now owns 436,837 shares of the investment management company’s stock worth $6,251,000 after buying an additional 314,864 shares during the period. Western Standard LLC boosted its holdings in OFS Capital Corporation by 35.3% in the 1st quarter. Western Standard LLC now owns 483,274 shares of the investment management company’s stock worth $6,858,000 after buying an additional 126,000 shares during the period. JPMorgan Chase & Co. bought a new position in OFS Capital Corporation in the 2nd quarter worth approximately $545,000. Punch & Associates Investment Management Inc. boosted its holdings in OFS Capital Corporation by 16.9% in the 2nd quarter. Punch & Associates Investment Management Inc. now owns 244,750 shares of the investment management company’s stock worth $3,502,000 after buying an additional 35,372 shares during the period. Finally, Morgan Stanley boosted its holdings in OFS Capital Corporation by 25.3% in the 1st quarter. Morgan Stanley now owns 157,167 shares of the investment management company’s stock worth $2,230,000 after buying an additional 31,714 shares during the period. 28.65% of the stock is owned by institutional investors.
OFS Capital Corporation Company Profile
OFS Capital Corporation (OFS Capital) is an externally managed, closed-end, non-diversified management investment company. The Company’s investment objective is to provide its shareholders with both current income and capital appreciation primarily through debt investments and equity investments. It focuses primarily on middle-market companies in the United States, including senior secured loans, including first-lien, second-lien and unitranche loans, as well as subordinated loans, and warrants and other minority equity securities.
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