$8.91 Million in Sales Expected for Alcentra Capital Corp. (ABDC) This Quarter
Wall Street brokerages forecast that Alcentra Capital Corp. (NASDAQ:ABDC) will announce sales of $8.91 million for the current quarter, according to Zacks. Five analysts have provided estimates for Alcentra Capital Corp.’s earnings. The lowest sales estimate is $8.40 million and the highest is $9.35 million. Alcentra Capital Corp. reported sales of $9.12 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings report on Thursday, November 2nd.
On average, analysts expect that Alcentra Capital Corp. will report full year sales of $8.91 million for the current financial year, with estimates ranging from $34.95 million to $37.19 million. For the next fiscal year, analysts anticipate that the company will report sales of $38.87 million per share, with estimates ranging from $36.58 million to $40.12 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Alcentra Capital Corp..
ABDC has been the topic of a number of recent research reports. Keefe, Bruyette & Woods set a $13.00 price objective on Alcentra Capital Corp. and gave the company a “hold” rating in a report on Sunday, August 6th. DA Davidson assumed coverage on Alcentra Capital Corp. in a report on Wednesday, July 5th. They set a “buy” rating and a $15.00 price objective on the stock. TheStreet downgraded Alcentra Capital Corp. from a “b” rating to a “c+” rating in a report on Monday, July 24th. ValuEngine raised Alcentra Capital Corp. from a “hold” rating to a “buy” rating in a report on Monday, October 2nd. Finally, Raymond James Financial, Inc. downgraded Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $16.00 to $14.00 in a report on Monday, July 17th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $13.50.
In other Alcentra Capital Corp. news, Director Steven H. Reiff bought 11,668 shares of the company’s stock in a transaction on Monday, August 7th. The stock was bought at an average price of $10.72 per share, for a total transaction of $125,080.96. Following the transaction, the director now owns 7,000 shares of the company’s stock, valued at approximately $75,040. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 4.96% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. raised its position in shares of Alcentra Capital Corp. by 4.4% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 13,098 shares of the asset manager’s stock valued at $178,000 after acquiring an additional 550 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Alcentra Capital Corp. by 4.9% during the 1st quarter. Wells Fargo & Company MN now owns 28,835 shares of the asset manager’s stock valued at $396,000 after acquiring an additional 1,354 shares during the last quarter. Carnegie Capital Asset Management LLC increased its position in shares of Alcentra Capital Corp. by 8.1% in the 2nd quarter. Carnegie Capital Asset Management LLC now owns 20,011 shares of the asset manager’s stock valued at $232,000 after buying an additional 1,500 shares in the last quarter. Confluence Investment Management LLC increased its position in shares of Alcentra Capital Corp. by 2.7% in the 2nd quarter. Confluence Investment Management LLC now owns 209,528 shares of the asset manager’s stock valued at $2,847,000 after buying an additional 5,566 shares in the last quarter. Finally, Royal Bank of Canada increased its position in shares of Alcentra Capital Corp. by 1,948.4% in the 2nd quarter. Royal Bank of Canada now owns 8,808 shares of the asset manager’s stock valued at $120,000 after buying an additional 8,378 shares in the last quarter. Institutional investors own 31.81% of the company’s stock.
Shares of Alcentra Capital Corp. (ABDC) traded down 0.8762% during trading on Thursday, reaching $10.0115. The company had a trading volume of 2,345 shares. Alcentra Capital Corp. has a 52 week low of $9.93 and a 52 week high of $14.73. The firm has a 50-day moving average of $10.63 and a 200 day moving average of $12.27.
The firm also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Saturday, September 30th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 13.47%. The ex-dividend date of this dividend was Thursday, September 28th. Alcentra Capital Corp.’s payout ratio is -1,700.00%.
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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