Zacks: Analysts Set $10.50 Target Price for Harvest Capital Credit Corp (HCAP)
Shares of Harvest Capital Credit Corp (NASDAQ:HCAP) have received a consensus broker rating score of 3.00 (Hold) from the two brokers that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokers have set a twelve-month consensus price objective of $10.50 for the company and are anticipating that the company will post $0.22 earnings per share for the current quarter, according to Zacks. Zacks has also assigned Harvest Capital Credit an industry rank of 36 out of 256 based on the ratings given to related companies.
Separately, Zacks Investment Research downgraded Harvest Capital Credit from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 20th.
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% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,361 shares of the investment management company’s stock after purchasing an additional 14,936 shares during the period. Acadian Asset Management LLC owned 0.35% of Harvest Capital Credit worth $225,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 9.32% of the company’s stock.
Shares of HCAP traded down $0.23 during mid-day trading on Friday, hitting $10.23. The company’s stock had a trading volume of 7,396 shares, compared to its average volume of 7,576. Harvest Capital Credit has a one year low of $9.31 and a one year high of $11.65. The company has a current ratio of 14.87, a quick ratio of 14.87 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $63.12 million, a price-to-earnings ratio of 11.00 and a beta of 0.71.
Harvest Capital Credit (NASDAQ:HCAP) last posted its quarterly earnings data on Tuesday, May 14th. The investment management company reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.04). Harvest Capital Credit had a net margin of 31.31% and a return on equity of 7.51%. The business had revenue of $3.04 million during the quarter, compared to the consensus estimate of $3.39 million. Equities analysts predict that Harvest Capital Credit will post 0.87 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Thursday, May 30th. Stockholders of record on Thursday, May 23rd will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Wednesday, May 22nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 9.38%. Harvest Capital Credit’s dividend payout ratio (DPR) is currently 103.23%.
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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