$8.91 Million in Sales Expected for Alcentra Capital Corp. (ABDC) This Quarter
Wall Street analysts expect Alcentra Capital Corp. (NASDAQ:ABDC) to post sales of $8.91 million for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Alcentra Capital Corp.’s earnings. The highest sales estimate is $9.35 million and the lowest is $8.40 million. Alcentra Capital Corp. reported sales of $9.12 million in the same quarter last year, which would suggest a negative year over year growth rate of 2.3%. The company is scheduled to report its next earnings results on Thursday, November 2nd.
On average, analysts expect that Alcentra Capital Corp. will report full-year sales of $8.91 million for the current year, with estimates ranging from $34.95 million to $37.19 million. For the next financial year, analysts anticipate that the firm will report sales of $38.87 million per share, with estimates ranging from $36.58 million to $40.12 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Alcentra Capital Corp..
Several research firms recently commented on ABDC. Raymond James Financial, Inc. lowered Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $16.00 to $14.00 in a research report on Monday, July 17th. ValuEngine lowered Alcentra Capital Corp. from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Keefe, Bruyette & Woods set a $14.00 price target on Alcentra Capital Corp. and gave the stock a “hold” rating in a research report on Wednesday, May 31st. TheStreet lowered Alcentra Capital Corp. from a “b” rating to a “c+” rating in a research report on Monday, July 24th. Finally, DA Davidson began coverage on Alcentra Capital Corp. in a research report on Wednesday, July 5th. They issued a “buy” rating and a $15.00 price target for the company. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Alcentra Capital Corp. presently has a consensus rating of “Hold” and an average price target of $13.50.
Shares of Alcentra Capital Corp. (NASDAQ ABDC) opened at 10.94 on Monday. The stock’s 50 day moving average price is $10.88 and its 200-day moving average price is $12.84. Alcentra Capital Corp. has a 52 week low of $10.20 and a 52 week high of $14.73.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 5th. Investors of record on Saturday, September 30th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.36 annualized dividend and a yield of 12.43%. Alcentra Capital Corp.’s dividend payout ratio is currently -1,700.00%.
In other Alcentra Capital Corp. news, Director Steven H. Reiff bought 11,668 shares of the company’s stock in a transaction on Monday, August 7th. The stock was acquired at an average price of $10.72 per share, for a total transaction of $125,080.96. Following the completion of the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at $75,040. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.96% of the company’s stock.
Several large investors have recently made changes to their positions in ABDC. Muzinich & Co. Inc. boosted its position in shares of Alcentra Capital Corp. by 98.3% during the first quarter. Muzinich & Co. Inc. now owns 452,913 shares of the asset manager’s stock valued at $6,223,000 after buying an additional 224,537 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Alcentra Capital Corp. by 93.4% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 166,750 shares of the asset manager’s stock valued at $2,291,000 after buying an additional 80,544 shares during the period. Salem Investment Counselors Inc. purchased a new position in shares of Alcentra Capital Corp. during the second quarter valued at approximately $646,000. UBS Group AG boosted its position in shares of Alcentra Capital Corp. by 20.7% during the first quarter. UBS Group AG now owns 258,940 shares of the asset manager’s stock valued at $3,558,000 after buying an additional 44,387 shares during the period. Finally, Mackenzie Financial Corp purchased a new position in shares of Alcentra Capital Corp. during the first quarter valued at approximately $491,000. Institutional investors and hedge funds own 31.49% of the company’s stock.
About Alcentra Capital Corp.
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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