OFS Capital Corp (OFS) Receives Average Recommendation of “Buy” from Brokerages
Shares of OFS Capital Corp (NASDAQ:OFS) have been given a consensus rating of “Buy” by the six analysts that are presently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $14.67.
A number of research analysts recently issued reports on OFS shares. Zacks Investment Research upgraded OFS Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, October 11th. National Securities reduced their price objective on OFS Capital from $16.00 to $15.00 and set a “buy” rating for the company in a research report on Monday, November 6th. Finally, ValuEngine lowered OFS Capital from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th.
Hedge funds have recently made changes to their positions in the business. Morgan Stanley boosted its position in OFS Capital by 25.3% during the 1st quarter. Morgan Stanley now owns 157,167 shares of the investment management company’s stock worth $2,230,000 after acquiring an additional 31,714 shares during the period. Advisors Asset Management Inc. boosted its position in OFS Capital by 2.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 415,125 shares of the investment management company’s stock worth $5,467,000 after acquiring an additional 9,315 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in OFS Capital during the 2nd quarter worth $290,000. Muzinich & Co. Inc. boosted its position in OFS Capital by 258.1% during the 2nd quarter. Muzinich & Co. Inc. now owns 436,837 shares of the investment management company’s stock worth $6,251,000 after acquiring an additional 314,864 shares during the period. Finally, JPMorgan Chase & Co. acquired a new position in OFS Capital during the 2nd quarter worth $545,000. Institutional investors own 28.10% of the company’s stock.
OFS Capital (NASDAQ:OFS) last issued its quarterly earnings results on Friday, November 3rd. The investment management company reported $0.33 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. OFS Capital had a return on equity of 9.43% and a net margin of 25.74%. The business had revenue of $9.12 million during the quarter, compared to the consensus estimate of $8.77 million. research analysts forecast that OFS Capital will post 1.31 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.34 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.36 dividend on an annualized basis and a yield of 11.06%. OFS Capital’s dividend payout ratio is currently 147.83%.
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About OFS Capital
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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