FY2017 Earnings Estimate for Capitala Finance Corp. (CPTA) Issued By Jefferies Group
Capitala Finance Corp. (NASDAQ:CPTA) – Analysts at Jefferies Group reduced their FY2017 earnings estimates for shares of Capitala Finance Corp. in a research report issued to clients and investors on Wednesday. Jefferies Group analyst J. Hecht now forecasts that the brokerage will post earnings of $1.59 per share for the year, down from their previous estimate of $1.90. Jefferies Group currently has a “Buy” rating and a $17.00 target price on the stock.
Capitala Finance Corp. (NASDAQ:CPTA) last announced its quarterly earnings results on Tuesday, November 8th. The investment management company reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.01. Capitala Finance Corp. had a positive return on equity of 11.51% and a negative net margin of 11.51%.
CPTA has been the topic of a number of other research reports. Wunderlich cut Capitala Finance Corp. from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $15.50 to $14.50 in a report on Friday, September 23rd. Zacks Investment Research cut Capitala Finance Corp. from a “hold” rating to a “sell” rating in a report on Monday, September 12th. FBR & Co set a $15.00 price objective on Capitala Finance Corp. and gave the stock a “hold” rating in a report on Friday, September 23rd. TheStreet raised Capitala Finance Corp. from a “sell” rating to a “hold” rating in a report on Monday, September 26th. Finally, Ladenburg Thalmann raised Capitala Finance Corp. from a “neutral” rating to a “buy” rating and set a $14.75 price objective on the stock in a report on Thursday, October 6th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Capitala Finance Corp. currently has a consensus rating of “Hold” and a consensus target price of $15.39.
Several institutional investors have recently made changes to their positions in CPTA. Stephens Inc. AR raised its position in shares of Capitala Finance Corp. by 0.9% in the third quarter. Stephens Inc. AR now owns 119,643 shares of the investment management company’s stock valued at $1,569,000 after buying an additional 1,072 shares during the period. Confluence Investment Management LLC bought a new stake in shares of Capitala Finance Corp. during the third quarter valued at $869,000. Sumitomo Mitsui Asset Management Company LTD boosted its stake in shares of Capitala Finance Corp. by 9.3% in the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 84,594 shares of the investment management company’s stock valued at $1,109,000 after buying an additional 7,233 shares in the last quarter. Muzinich & Co. Inc. boosted its stake in shares of Capitala Finance Corp. by 65.3% in the third quarter. Muzinich & Co. Inc. now owns 208,183 shares of the investment management company’s stock valued at $2,729,000 after buying an additional 82,251 shares in the last quarter. Finally, Nuveen Fund Advisors LLC bought a new stake in shares of Capitala Finance Corp. during the second quarter valued at $1,019,000. Hedge funds and other institutional investors own 22.68% of the company’s stock.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, December 29th. Stockholders of record on Wednesday, December 21st will be given a dividend of $0.13 per share. The ex-dividend date of this dividend is Monday, December 19th. This represents a $1.56 annualized dividend and a dividend yield of 12.91%. Capitala Finance Corp.’s dividend payout ratio (DPR) is presently -305.88%.
About Capitala Finance Corp.
Capitala Finance Corp. is an externally managed non-diversified, closed-end management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. Both directly and through its subsidiaries that are licensed by the United States Small Business Administration (SBA), the Company offers financing to business owners, management teams and financial sponsors for change of ownership transactions, recapitalizations, strategic acquisitions, business expansion and other growth initiatives.
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