Hercules Capital, Inc. to Issue Dividend of $0.31 (HTGC)
Hercules Capital, Inc. (NYSE:HTGC) declared a dividend on Friday, November 3rd, Fidelity reports. Investors of record on Monday, November 13th will be paid a dividend of 0.31 per share by the financial services provider on Monday, November 20th. The ex-dividend date of this dividend is Friday, November 10th.
Hercules Capital has raised its dividend payment by an average of 3.8% per year over the last three years. Hercules Capital has a dividend payout ratio of 106.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Hercules Capital to earn $1.27 per share next year, which means the company should continue to be able to cover its $1.24 annual dividend with an expected future payout ratio of 97.6%.
Shares of Hercules Capital (HTGC) traded up $0.91 during trading on Friday, reaching $13.40. 1,722,794 shares of the company were exchanged, compared to its average volume of 331,117. The company has a debt-to-equity ratio of 0.92, a current ratio of 8.47 and a quick ratio of 8.47. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 2.12 and a beta of 0.84. Hercules Capital has a 1 year low of $11.64 and a 1 year high of $15.68.
Hercules Capital (NYSE:HTGC) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.29 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The firm had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $46.22 million. Hercules Capital had a return on equity of 13.06% and a net margin of 39.73%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.32 EPS. equities analysts anticipate that Hercules Capital will post 1.17 EPS for the current fiscal year.
HTGC has been the subject of several recent research reports. BidaskClub cut Hercules Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, September 12th. Compass Point raised Hercules Capital from a “neutral” rating to a “buy” rating and set a $13.00 price target for the company in a research note on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $16.00 price target on shares of Hercules Capital in a research note on Wednesday, August 16th. Wedbush initiated coverage on Hercules Capital in a research note on Tuesday, October 24th. They issued a “neutral” rating and a $13.25 price target for the company. Finally, Raymond James Financial, Inc. reaffirmed an “underperform” rating on shares of Hercules Capital in a research note on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $14.34.
An institutional investor recently raised its position in Hercules Capital stock. The Manufacturers Life Insurance Company lifted its holdings in Hercules Capital, Inc. (NYSE:HTGC) by 29.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,858 shares of the financial services provider’s stock after purchasing an additional 2,034 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Hercules Capital were worth $117,000 as of its most recent SEC filing. Institutional investors and hedge funds own 42.74% of the company’s stock.
Hercules Capital Company Profile
Hercules Capital, Inc is a specialty finance company. The Company is an internally managed, non-diversified, closed-end investment company. The Company focuses on providing senior secured venture growth loans to venture capital-backed companies in a range of technology, life sciences, and sustainable and renewable technology industries.
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