OFS Capital Corporation (OFS) Downgraded by ValuEngine to Hold
ValuEngine downgraded shares of OFS Capital Corporation (NASDAQ:OFS) from a buy rating to a hold rating in a report issued on Thursday morning.
A number of other equities research analysts have also commented on OFS. Robert W. Baird lowered OFS Capital Corporation from an outperform rating to a neutral rating and dropped their target price for the company from $16.00 to $13.00 in a research report on Monday, August 7th. Zacks Investment Research lowered OFS Capital Corporation from a hold rating to a sell rating in a research report on Wednesday, August 9th. Finally, National Securities reiterated a buy rating and issued a $16.00 target price on shares of OFS Capital Corporation in a research report on Tuesday, July 25th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $14.67.
Shares of OFS Capital Corporation (NASDAQ:OFS) traded up $0.15 during midday trading on Thursday, reaching $12.03. The company had a trading volume of 50,787 shares, compared to its average volume of 72,188. The stock has a market capitalization of $158.42, a price-to-earnings ratio of 8.60 and a beta of 0.52. OFS Capital Corporation has a 52-week low of $11.80 and a 52-week high of $15.23. The company has a current ratio of 18.38, a quick ratio of 18.38 and a debt-to-equity ratio of 0.87.
OFS Capital Corporation (NASDAQ:OFS) last issued its earnings results on Friday, November 3rd. The investment management company reported $0.33 EPS for the quarter, beating the Zacks’ consensus estimate of $0.31 by $0.02. The firm had revenue of $9.12 million for the quarter, compared to analyst estimates of $8.77 million. OFS Capital Corporation had a return on equity of 9.43% and a net margin of 25.74%. sell-side analysts anticipate that OFS Capital Corporation will post 1.31 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a $0.34 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.36 annualized dividend and a yield of 11.31%. OFS Capital Corporation’s dividend payout ratio is presently 149.45%.
A number of institutional investors have recently added to or reduced their stakes in OFS. Wells Fargo & Company MN boosted its position in OFS Capital Corporation by 243.0% in the 1st quarter. Wells Fargo & Company MN now owns 14,929 shares of the investment management company’s stock worth $212,000 after purchasing an additional 10,577 shares in the last quarter. Morgan Stanley boosted its position in OFS Capital Corporation by 25.3% in the 1st quarter. Morgan Stanley now owns 157,167 shares of the investment management company’s stock worth $2,230,000 after purchasing an additional 31,714 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in OFS Capital Corporation by 39.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 42,723 shares of the investment management company’s stock worth $606,000 after purchasing an additional 12,101 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in OFS Capital Corporation by 11.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 129,839 shares of the investment management company’s stock worth $1,858,000 after purchasing an additional 13,067 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in OFS Capital Corporation by 3.4% in the 2nd quarter. Advisors Asset Management Inc. now owns 405,810 shares of the investment management company’s stock worth $5,807,000 after purchasing an additional 13,527 shares in the last quarter. Institutional investors and hedge funds own 28.64% of the company’s stock.
About OFS Capital Corporation
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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