Brokerages Expect Harvest Capital Credit Corp (HCAP) Will Post Quarterly Sales of $3.39 Million
Analysts expect that Harvest Capital Credit Corp (NASDAQ:HCAP) will announce sales of $3.39 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Harvest Capital Credit’s earnings. The lowest sales estimate is $3.34 million and the highest is $3.44 million. Harvest Capital Credit reported sales of $3.74 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 9.4%. The firm is expected to report its next quarterly earnings results before the market opens on Tuesday, May 14th.
According to Zacks, analysts expect that Harvest Capital Credit will report full year sales of $15.92 million for the current year, with estimates ranging from $14.96 million to $16.88 million. For the next fiscal year, analysts forecast that the firm will report sales of $20.10 million, with estimates ranging from $18.60 million to $21.60 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Harvest Capital Credit.
Harvest Capital Credit (NASDAQ:HCAP) last released its earnings results on Friday, March 15th. The investment management company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.01. The firm had revenue of $4.07 million during the quarter, compared to analysts’ expectations of $3.90 million. Harvest Capital Credit had a net margin of 31.31% and a return on equity of 7.51%.
HCAP stock traded down $0.11 during midday trading on Friday, hitting $10.22. The stock had a trading volume of 7,500 shares, compared to its average volume of 16,862. The stock has a market capitalization of $63.06 million, a P/E ratio of 10.99 and a beta of 0.71. The company has a debt-to-equity ratio of 0.57, a quick ratio of 14.87 and a current ratio of 14.87. Harvest Capital Credit has a 12-month low of $9.31 and a 12-month high of $11.65.
The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 23rd will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.96 annualized dividend and a dividend yield of 9.39%. Harvest Capital Credit’s dividend payout ratio is presently 103.23%.
In related news, CEO Joseph A. Jolson acquired 13,660 shares of the stock in a transaction dated Wednesday, February 20th. The stock was bought at an average cost of $9.84 per share, with a total value of $134,414.40. Following the purchase, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at $196,800. The transaction was disclosed in a filing with the SEC, which is available through this link. 13.40% of the stock is owned by insiders.
An institutional investor recently raised its position in Harvest Capital Credit stock. Acadian Asset Management LLC boosted its position in Harvest Capital Credit Corp (NASDAQ:HCAP) by 201.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,361 shares of the investment management company’s stock after buying an additional 14,936 shares during the quarter. Acadian Asset Management LLC owned 0.35% of Harvest Capital Credit worth $225,000 at the end of the most recent quarter. 9.32% of the stock is currently owned by hedge funds and other institutional investors.
Harvest Capital Credit Company Profile
Harvest Capital Credit Corporation is a business development company providing structured credit to small businesses and specializing in leveraged buyouts, add-on acquisitions, recapitalizations, growth financings and debt refinancing investments. It prefers to invest in North America-based companies.
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