$8.81 Million in Sales Expected for Alcentra Capital Corp. (ABDC) This Quarter
Equities analysts expect Alcentra Capital Corp. (NASDAQ:ABDC) to post $8.81 million in sales for the current quarter, Zacks reports. Six analysts have issued estimates for Alcentra Capital Corp.’s earnings, with the lowest sales estimate coming in at $8.10 million and the highest estimate coming in at $9.35 million. Alcentra Capital Corp. posted sales of $9.12 million during the same quarter last year, which would indicate a negative year over year growth rate of 3.4%. The company is expected to announce its next quarterly earnings results on Thursday, November 2nd.
According to Zacks, analysts expect that Alcentra Capital Corp. will report full-year sales of $8.81 million for the current year, with estimates ranging from $32.80 million to $37.19 million. For the next fiscal year, analysts anticipate that the firm will post sales of $38.51 million per share, with estimates ranging from $34.90 million to $40.12 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Alcentra Capital Corp..
Several equities research analysts recently commented on ABDC shares. DA Davidson started coverage on Alcentra Capital Corp. in a research note on Wednesday, July 5th. They set a “buy” rating and a $15.00 target price for the company. TheStreet cut Alcentra Capital Corp. from a “b” rating to a “c+” rating in a research note on Monday, July 24th. Keefe, Bruyette & Woods set a $13.00 target price on Alcentra Capital Corp. and gave the stock a “hold” rating in a research note on Sunday, August 6th. Finally, Raymond James Financial, Inc. cut Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and decreased their target price for the stock from $16.00 to $14.00 in a research note on Monday, July 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Alcentra Capital Corp. presently has a consensus rating of “Hold” and a consensus target price of $13.50.
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In other Alcentra Capital Corp. news, major shareholder Of New York Mellon Corp Bank sold 1,691,839 shares of the stock in a transaction that occurred on Monday, May 22nd. The stock was sold at an average price of $13.13, for a total value of $22,213,846.07. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Steven H. Reiff purchased 11,668 shares of the business’s stock in a transaction on Monday, August 7th. The stock was purchased at an average price of $10.72 per share, for a total transaction of $125,080.96. Following the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $75,040. The disclosure for this purchase can be found here. 4.96% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in ABDC. Bank of Montreal Can purchased a new position in shares of Alcentra Capital Corp. during the second quarter valued at about $163,000. Oppenheimer & Co. Inc. raised its position in shares of Alcentra Capital Corp. by 4.4% in the second quarter. Oppenheimer & Co. Inc. now owns 13,098 shares of the asset manager’s stock valued at $178,000 after buying an additional 550 shares during the last quarter. Creative Planning raised its position in shares of Alcentra Capital Corp. by 2.9% in the first quarter. Creative Planning now owns 20,570 shares of the asset manager’s stock valued at $283,000 after buying an additional 570 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Alcentra Capital Corp. by 4.9% in the first quarter. Wells Fargo & Company MN now owns 28,835 shares of the asset manager’s stock valued at $396,000 after buying an additional 1,354 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new position in shares of Alcentra Capital Corp. during the first quarter valued at about $491,000. Institutional investors and hedge funds own 43.52% of the company’s stock.
Alcentra Capital Corp. (NASDAQ:ABDC) opened at 10.74 on Friday. Alcentra Capital Corp. has a 52-week low of $10.20 and a 52-week high of $14.73. The stock’s 50 day moving average price is $12.45 and its 200 day moving average price is $13.12.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Shareholders of record on Saturday, September 30th will be issued a $0.34 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.36 annualized dividend and a yield of 12.66%. Alcentra Capital Corp.’s payout ratio is currently -1,700.00%.
About Alcentra Capital Corp.
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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