Alcentra Capital Corp (ABDC) Expected to Post Quarterly Sales of $7.93 Million
Wall Street brokerages expect that Alcentra Capital Corp (NASDAQ:ABDC) will announce $7.93 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Alcentra Capital’s earnings, with the highest sales estimate coming in at $8.59 million and the lowest estimate coming in at $7.38 million. Alcentra Capital posted sales of $10.90 million in the same quarter last year, which suggests a negative year over year growth rate of 27.2%. The firm is scheduled to announce its next earnings report on Thursday, March 8th.
On average, analysts expect that Alcentra Capital will report full year sales of $7.93 million for the current financial year, with estimates ranging from $32.53 million to $33.74 million. For the next fiscal year, analysts expect that the firm will report sales of $33.18 million per share, with estimates ranging from $31.06 million to $34.45 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Alcentra Capital.
Alcentra Capital (NASDAQ:ABDC) last announced its quarterly earnings data on Monday, November 6th. The asset manager reported $0.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.01. The firm had revenue of $7.61 million during the quarter. Alcentra Capital had a positive return on equity of 11.32% and a negative net margin of 2.25%.
In other news, Director Paul J. Echausse sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $7.45, for a total value of $74,500.00. Following the completion of the sale, the director now directly owns 58,946 shares of the company’s stock, valued at approximately $439,147.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven H. Reiff purchased 6,900 shares of the stock in a transaction dated Monday, November 13th. The stock was bought at an average cost of $7.23 per share, with a total value of $49,887.00. Following the completion of the purchase, the director now owns 35,246 shares in the company, valued at $254,828.58. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 11,730 shares of company stock valued at $83,956. 4.96% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in ABDC. Muzinich & Co. Inc. increased its stake in shares of Alcentra Capital by 34.7% in the 2nd quarter. Muzinich & Co. Inc. now owns 610,164 shares of the asset manager’s stock valued at $8,292,000 after acquiring an additional 157,251 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in shares of Alcentra Capital by 45.6% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 242,865 shares of the asset manager’s stock valued at $3,300,000 after acquiring an additional 76,115 shares during the last quarter. Salem Investment Counselors Inc. bought a new stake in shares of Alcentra Capital in the 2nd quarter valued at about $646,000. Stephens Inc. AR bought a new stake in Alcentra Capital during the 3rd quarter worth approximately $253,000. Finally, Goldman Sachs Group Inc. bought a new stake in Alcentra Capital during the 2nd quarter worth approximately $219,000. 32.06% of the stock is owned by institutional investors.
Shares of Alcentra Capital (NASDAQ ABDC) opened at $8.63 on Friday. The firm has a market capitalization of $122.93, a PE ratio of -172.57 and a beta of 0.62. Alcentra Capital has a twelve month low of $7.00 and a twelve month high of $14.73.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 4th. Stockholders of record on Friday, December 29th were paid a $0.25 dividend. The ex-dividend date was Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.59%. Alcentra Capital’s dividend payout ratio (DPR) is presently -1,999.60%.
Alcentra Capital announced that its Board of Directors has approved a share repurchase plan on Monday, November 6th that authorizes the company to repurchase $2.50 million in shares. This repurchase authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
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About Alcentra Capital
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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