Gladstone Capital Co. (GLAD) Expected to Announce Earnings of $0.21 Per Share
Brokerages expect Gladstone Capital Co. (NASDAQ:GLAD) to announce $0.21 earnings per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Gladstone Capital’s earnings. Gladstone Capital also posted earnings of $0.21 per share in the same quarter last year. The business is scheduled to issue its next earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that Gladstone Capital will report full-year earnings of $0.86 per share for the current fiscal year, with EPS estimates ranging from $0.84 to $0.89. For the next fiscal year, analysts forecast that the company will report earnings of $0.85 per share. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow Gladstone Capital.
Gladstone Capital (NASDAQ:GLAD) last released its earnings results on Monday, November 20th. The investment management company reported $0.21 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.21. Gladstone Capital had a return on equity of 9.94% and a net margin of 43.78%. The firm had revenue of $10.83 million for the quarter, compared to analyst estimates of $10.72 million.
GLAD has been the topic of several recent research reports. Zacks Investment Research raised Gladstone Capital from a “sell” rating to a “hold” rating in a report on Wednesday, December 6th. Ladenburg Thalmann Financial Services initiated coverage on Gladstone Capital in a report on Friday, October 6th. They set a “neutral” rating on the stock. Wedbush initiated coverage on Gladstone Capital in a report on Wednesday, September 27th. They set a “neutral” rating and a $9.40 price objective on the stock. Finally, National Securities reissued a “sell” rating and set a $8.00 price objective on shares of Gladstone Capital in a report on Wednesday, November 22nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $9.16.
Shares of Gladstone Capital (NASDAQ:GLAD) opened at $9.21 on Friday. Gladstone Capital has a fifty-two week low of $8.67 and a fifty-two week high of $10.12. The firm has a market capitalization of $245.28, a P/E ratio of 13.75 and a beta of 1.21. The company has a current ratio of 4.33, a quick ratio of 4.33 and a debt-to-equity ratio of 0.42.
The company also recently disclosed a monthly dividend, which was paid on Friday, December 29th. Stockholders of record on Tuesday, December 19th were issued a dividend of $0.07 per share. This represents a $0.84 annualized dividend and a dividend yield of 9.12%. The ex-dividend date was Monday, December 18th. Gladstone Capital’s payout ratio is presently 125.37%.
In related news, Director Walter H. Wilkinson purchased 6,134 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were acquired at an average price of $9.79 per share, with a total value of $60,051.86. Following the purchase, the director now directly owns 13,517 shares in the company, valued at $132,331.43. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Robert L. Marcotte purchased 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 29th. The stock was bought at an average cost of $9.82 per share, for a total transaction of $78,560.00. Following the purchase, the president now owns 381,770 shares in the company, valued at $3,748,981.40. The disclosure for this purchase can be found here. Insiders have bought a total of 22,334 shares of company stock worth $215,692 in the last three months. 5.89% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. Van ECK Associates Corp boosted its stake in Gladstone Capital by 13.5% in the 2nd quarter. Van ECK Associates Corp now owns 221,397 shares of the investment management company’s stock valued at $2,176,000 after buying an additional 26,262 shares in the last quarter. Mckinley Capital Management LLC Delaware acquired a new stake in Gladstone Capital in the 2nd quarter valued at $1,200,000. GSA Capital Partners LLP boosted its stake in Gladstone Capital by 193.0% in the 3rd quarter. GSA Capital Partners LLP now owns 89,073 shares of the investment management company’s stock valued at $846,000 after buying an additional 58,673 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Gladstone Capital by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 87,117 shares of the investment management company’s stock valued at $820,000 after buying an additional 7,586 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in Gladstone Capital by 22.5% in the 3rd quarter. Legal & General Group Plc now owns 75,544 shares of the investment management company’s stock valued at $717,000 after buying an additional 13,875 shares in the last quarter. 14.34% of the stock is currently owned by institutional investors and hedge funds.
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About Gladstone Capital
Gladstone Capital Corporation is a closed-end, non-diversified management investment company, operating as a business development company (BDC). The objectives of the Company are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and to provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities of established businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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