$5.00 Million in Sales Expected for Harvest Capital Credit Corporation (HCAP) This Quarter
Wall Street brokerages expect Harvest Capital Credit Corporation (NASDAQ:HCAP) to announce $5.00 million in sales for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Harvest Capital Credit Corporation’s earnings, with estimates ranging from $4.87 million to $5.14 million. Harvest Capital Credit Corporation posted sales of $5.49 million during the same quarter last year, which suggests a negative year-over-year growth rate of 8.9%. The business is scheduled to report its next earnings results before the market opens on Tuesday, November 7th.
On average, analysts expect that Harvest Capital Credit Corporation will report full year sales of $5.00 million for the current fiscal year, with estimates ranging from $19.09 million to $19.66 million. For the next financial year, analysts anticipate that the company will post sales of $20.59 million per share, with estimates ranging from $19.71 million to $21.46 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Harvest Capital Credit Corporation.
Harvest Capital Credit Corporation (NASDAQ:HCAP) last issued its earnings results on Wednesday, August 9th. The investment management company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.33 by $0.06. The business had revenue of $5.08 million for the quarter, compared to the consensus estimate of $5.14 million. Harvest Capital Credit Corporation had a return on equity of 11.71% and a net margin of 27.50%.
Several equities analysts recently issued reports on HCAP shares. Zacks Investment Research raised Harvest Capital Credit Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $13.50 target price on shares of Harvest Capital Credit Corporation in a research report on Friday, August 11th.
The firm also recently declared a special dividend, which was paid on Thursday, October 26th. Shareholders of record on Thursday, October 19th were issued a $0.10 dividend. This represents a yield of 10.06%. This is a positive change from Harvest Capital Credit Corporation’s previous special dividend of $0.09. The ex-dividend date of this dividend was Wednesday, October 18th. Harvest Capital Credit Corporation’s dividend payout ratio is presently 150.00%.
In other Harvest Capital Credit Corporation news, insider Richard Paul Buckanavage sold 3,000 shares of the company’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $13.65, for a total value of $40,950.00. Following the sale, the insider now directly owns 57,172 shares of the company’s stock, valued at $780,397.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.50% of the stock is currently owned by corporate insiders.
An institutional investor recently raised its position in Harvest Capital Credit Corporation stock. Janney Montgomery Scott LLC raised its holdings in Harvest Capital Credit Corporation (NASDAQ:HCAP) by 3.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 75,974 shares of the investment management company’s stock after purchasing an additional 2,753 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Harvest Capital Credit Corporation were worth $996,000 at the end of the most recent reporting period. 5.77% of the stock is owned by hedge funds and other institutional investors.
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Harvest Capital Credit Corporation Company Profile
Harvest Capital Credit Corporation is an externally managed, closed-end, non-diversified management investment company. The Company operates as a business development company and provides customized financing solutions for small to mid-sized companies. Its investment objective is to generate both current income and capital appreciation by making direct investments in the form of subordinated debt, senior debt, and to a lesser extent, minority equity investments in privately-held the United States small to mid-sized companies.
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