Zacks: Analysts Expect Harvest Capital Credit Corp (HCAP) to Announce $0.30 EPS
Wall Street brokerages expect Harvest Capital Credit Corp (NASDAQ:HCAP) to post earnings per share of $0.30 for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Harvest Capital Credit’s earnings, with estimates ranging from $0.29 to $0.31. Harvest Capital Credit reported earnings of $0.39 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 23.1%. The company is scheduled to announce its next quarterly earnings report before the market opens on Thursday, March 15th.
According to Zacks, analysts expect that Harvest Capital Credit will report full-year earnings of $1.39 per share for the current fiscal year. For the next year, analysts forecast that the business will report earnings of $1.26 per share, with EPS estimates ranging from $1.17 to $1.35. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Harvest Capital Credit.
A number of brokerages recently weighed in on HCAP. Zacks Investment Research upgraded Harvest Capital Credit from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. Janney Montgomery Scott cut Harvest Capital Credit from a “buy” rating to a “neutral” rating in a report on Friday, February 9th. ValuEngine cut Harvest Capital Credit from a “strong-buy” rating to a “buy” rating in a report on Friday, February 2nd. Finally, TheStreet cut Harvest Capital Credit from a “b-” rating to a “c+” rating in a report on Wednesday, November 29th. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Harvest Capital Credit currently has a consensus rating of “Hold” and an average price target of $13.50.
An institutional investor recently raised its position in Harvest Capital Credit stock. Ladenburg Thalmann Financial Services Inc. raised its stake in Harvest Capital Credit Corp (NASDAQ:HCAP) by 21.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,214 shares of the investment management company’s stock after purchasing an additional 6,282 shares during the quarter. Ladenburg Thalmann Financial Services Inc. owned about 0.54% of Harvest Capital Credit worth $471,000 at the end of the most recent quarter. 5.97% of the stock is owned by institutional investors and hedge funds.
Shares of Harvest Capital Credit (NASDAQ:HCAP) traded down $0.17 during trading on Friday, reaching $10.78. The company had a trading volume of 10,310 shares, compared to its average volume of 29,071. Harvest Capital Credit has a 52-week low of $10.03 and a 52-week high of $14.65. The firm has a market capitalization of $68.08, a PE ratio of 22.94 and a beta of 0.72. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.39.
The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 20th will be given a $0.095 dividend. This represents a $1.14 annualized dividend and a yield of 10.58%. The ex-dividend date of this dividend is Monday, March 19th. Harvest Capital Credit’s dividend payout ratio (DPR) is presently 242.55%.
Harvest Capital Credit Company Profile
Harvest Capital Credit Corporation is an externally managed, closed-end, non-diversified management investment company. The Company operates as a business development company and provides customized financing solutions for small to mid-sized companies. Its investment objective is to generate both current income and capital appreciation by making direct investments in the form of subordinated debt, senior debt, and to a lesser extent, minority equity investments in privately-held the United States small to mid-sized companies.
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