$6.96 Million in Sales Expected for Great Elm Capital Corp (GECC) This Quarter
Analysts expect Great Elm Capital Corp (NASDAQ:GECC) to post sales of $6.96 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Great Elm Capital’s earnings, with estimates ranging from $6.82 million to $7.10 million. Great Elm Capital reported sales of $6.47 million in the same quarter last year, which would suggest a positive year over year growth rate of 7.6%. The firm is expected to issue its next quarterly earnings results on Monday, November 5th.
According to Zacks, analysts expect that Great Elm Capital will report full-year sales of $28.65 million for the current financial year, with estimates ranging from $28.30 million to $29.00 million. For the next financial year, analysts forecast that the firm will report sales of $27.79 million, with estimates ranging from $27.28 million to $28.30 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Great Elm Capital.
Great Elm Capital (NASDAQ:GECC) last released its quarterly earnings results on Friday, August 10th. The financial services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.27. Great Elm Capital had a negative net margin of 16.40% and a positive return on equity of 15.45%. The company had revenue of $7.16 million during the quarter, compared to the consensus estimate of $6.99 million.
In other news, major shareholder Mast Capital Management, Llc sold 45,448 shares of Great Elm Capital stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $9.68, for a total value of $439,936.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by insiders.
A hedge fund recently raised its stake in Great Elm Capital stock. Quantum Capital Management raised its position in shares of Great Elm Capital Corp (NASDAQ:GECC) by 6.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,988 shares of the financial services provider’s stock after purchasing an additional 8,197 shares during the period. Quantum Capital Management owned approximately 1.28% of Great Elm Capital worth $1,257,000 at the end of the most recent reporting period. 6.71% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ GECC opened at $9.77 on Thursday. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.09 and a quick ratio of 0.09. Great Elm Capital has a 1-year low of $8.76 and a 1-year high of $10.63. The company has a market capitalization of $104.61 million, a PE ratio of 5.31 and a beta of 0.64.
The firm also recently declared a monthly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be given a $0.083 dividend. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.19%. Great Elm Capital’s payout ratio is 65.79%.
About Great Elm Capital
Great Elm Capital Corporation is a business development company which specializes in loan and mezzanine, middle market investments. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment. It typically makes equity investments between $3 million and $10 million in companies with revenues between $3 million and $75 million.
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