Analysts expect Alcentra Capital Corp (NASDAQ:ABDC) to report sales of $7.77 million for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Alcentra Capital’s earnings. The lowest sales estimate is $7.38 million and the highest is $8.01 million. Alcentra Capital reported sales of $10.90 million during the same quarter last year, which suggests a negative year-over-year growth rate of 28.7%. The business is expected to announce its next earnings results on Thursday, March 8th.
According to Zacks, analysts expect that Alcentra Capital will report full year sales of $7.77 million for the current year, with estimates ranging from $32.53 million to $33.16 million. For the next fiscal year, analysts forecast that the firm will post sales of $32.99 million per share, with estimates ranging from $31.06 million to $34.45 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Alcentra Capital.
Several research firms recently issued reports on ABDC. ValuEngine cut shares of Alcentra Capital from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Raymond James Financial cut shares of Alcentra Capital from an “outperform” rating to an “underperform” rating in a report on Wednesday, November 8th. UBS Group raised shares of Alcentra Capital from an “underperform” rating to a “market perform” rating in a report on Thursday, January 11th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $9.50 target price on shares of Alcentra Capital in a research note on Friday, November 10th. Finally, Rowe lowered shares of Alcentra Capital from an “outperform” rating to an “underperform” rating in a research note on Wednesday, November 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Alcentra Capital has an average rating of “Hold” and a consensus target price of $12.83.
A number of hedge funds have recently added to or reduced their stakes in ABDC. Stifel Financial Corp bought a new stake in Alcentra Capital during the second quarter valued at $188,000. Goldman Sachs Group Inc. bought a new stake in Alcentra Capital during the second quarter valued at $219,000. Royal Bank of Canada increased its stake in Alcentra Capital by 1,948.4% during the second quarter. Royal Bank of Canada now owns 8,808 shares of the asset manager’s stock valued at $120,000 after purchasing an additional 8,378 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Alcentra Capital by 45.6% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 242,865 shares of the asset manager’s stock valued at $3,300,000 after purchasing an additional 76,115 shares during the last quarter. Finally, Wealthsource Partners LLC bought a new stake in Alcentra Capital during the second quarter valued at $176,000. Hedge funds and other institutional investors own 39.35% of the company’s stock.
Shares of Alcentra Capital (NASDAQ:ABDC) opened at $7.51 on Friday. The stock has a market cap of $106.13, a price-to-earnings ratio of 15.65 and a beta of 0.51. Alcentra Capital has a twelve month low of $7.00 and a twelve month high of $14.73.
Alcentra Capital announced that its board has authorized a stock repurchase plan on Monday, November 6th that allows the company to buyback $2.50 million in shares. This buyback authorization allows the asset manager to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
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Alcentra Capital 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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