Q3 2017 Earnings Forecast for Alcentra Capital Corp. (NASDAQ:ABDC) Issued By Zacks Investment Research
Alcentra Capital Corp. (NASDAQ:ABDC) – Stock analysts at Zacks Investment Research cut their Q3 2017 earnings per share (EPS) estimates for shares of Alcentra Capital Corp. in a research report issued to clients and investors on Monday. Zacks Investment Research analyst L. Thompson now forecasts that the asset manager will post earnings of $0.34 per share for the quarter, down from their previous forecast of $0.37. Zacks Investment Research also issued estimates for Alcentra Capital Corp.’s Q4 2017 earnings at $0.39 EPS, FY2017 earnings at $1.43 EPS and FY2018 earnings at $1.49 EPS.
Several other research firms also recently issued reports on ABDC. Raymond James Financial, Inc. downgraded Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $16.00 to $14.00 in a research note on Monday, July 17th. DA Davidson began coverage on Alcentra Capital Corp. in a research note on Wednesday, July 5th. They issued a “buy” rating and a $15.00 price target for the company. Keefe, Bruyette & Woods set a $14.00 price target on Alcentra Capital Corp. and gave the company a “hold” rating in a research note on Wednesday, May 31st. Finally, TheStreet downgraded Alcentra Capital Corp. from a “b” rating to a “c+” rating in a research note on Monday, July 24th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.50.
Alcentra Capital Corp. (ABDC) opened at 10.24 on Wednesday. Alcentra Capital Corp. has a 52 week low of $10.21 and a 52 week high of $14.73. The company has a 50 day moving average price of $12.53 and a 200-day moving average price of $13.13.
Several hedge funds have recently added to or reduced their stakes in ABDC. Oppenheimer & Co. Inc. increased its stake in Alcentra Capital Corp. by 4.4% in the second quarter. Oppenheimer & Co. Inc. now owns 13,098 shares of the asset manager’s stock worth $178,000 after buying an additional 550 shares during the last quarter. Salzhauer Michael increased its stake in Alcentra Capital Corp. by 62.6% in the second quarter. Salzhauer Michael now owns 47,292 shares of the asset manager’s stock worth $643,000 after buying an additional 18,200 shares during the last quarter. Bank of Montreal Can bought a new stake in Alcentra Capital Corp. during the second quarter worth $163,000. Confluence Investment Management LLC increased its stake in Alcentra Capital Corp. by 2.7% in the second quarter. Confluence Investment Management LLC now owns 209,528 shares of the asset manager’s stock worth $2,847,000 after buying an additional 5,566 shares during the last quarter. Finally, UBS Group AG increased its stake in Alcentra Capital Corp. by 20.7% in the first quarter. UBS Group AG now owns 258,940 shares of the asset manager’s stock worth $3,558,000 after buying an additional 44,387 shares during the last quarter. Hedge funds and other institutional investors own 43.52% of the company’s stock.
In other news, major shareholder Of New York Mellon Corp Bank sold 1,691,839 shares of the company’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $13.13, for a total transaction of $22,213,846.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven H. Reiff bought 11,668 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were bought at an average price of $10.72 per share, with a total value of $125,080.96. Following the completion of the transaction, the director now owns 7,000 shares in the company, valued at approximately $75,040. The disclosure for this purchase can be found here. Corporate insiders own 4.96% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 5th. Stockholders of record on Saturday, September 30th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 13.28%. Alcentra Capital Corp.’s payout ratio is -1,700.00%.
Alcentra Capital Corp. Company Profile
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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