Zacks: Brokerages Expect Fidus Investment Co. (NASDAQ:FDUS) Will Post Earnings of $0.32 Per Share
Wall Street brokerages expect Fidus Investment Co. (NASDAQ:FDUS) to announce $0.32 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Fidus Investment’s earnings, with the lowest EPS estimate coming in at $0.30 and the highest estimate coming in at $0.34. Fidus Investment reported earnings of $0.34 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 5.9%. The business is expected to announce its next quarterly earnings report after the market closes on Thursday, February 25th.
On average, analysts expect that Fidus Investment will report full-year earnings of $1.44 per share for the current year, with EPS estimates ranging from $1.42 to $1.45. For the next financial year, analysts forecast that the firm will report earnings of $1.48 per share, with EPS estimates ranging from $1.42 to $1.53. Zacks’ EPS averages are an average based on a survey of sell-side research analysts that follow Fidus Investment.
Several analysts have issued reports on the stock. B. Riley raised their price objective on shares of Fidus Investment from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 24th. Raymond James lifted their target price on Fidus Investment from $11.00 to $14.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 18th. Zacks Investment Research cut shares of Fidus Investment from a “buy” rating to a “hold” rating in a report on Monday. Finally, Oppenheimer upped their target price on shares of Fidus Investment from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Monday, November 2nd. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $13.70.
The business also recently declared a None dividend, which will be paid on Friday, March 26th. Stockholders of record on Friday, March 12th will be given a $0.38 dividend. This represents a dividend yield of 8.6%. The ex-dividend date is Thursday, March 11th. Fidus Investment’s payout ratio is 83.33%.
A number of institutional investors have recently made changes to their positions in the business. Morgan Stanley boosted its holdings in shares of Fidus Investment by 199.6% in the 4th quarter. Morgan Stanley now owns 340,956 shares of the asset manager’s stock valued at $4,466,000 after buying an additional 227,143 shares in the last quarter. Ares Management LLC acquired a new stake in Fidus Investment in the fourth quarter worth about $4,794,000. Virtus ETF Advisers LLC lifted its stake in shares of Fidus Investment by 53.8% during the fourth quarter. Virtus ETF Advisers LLC now owns 32,420 shares of the asset manager’s stock worth $425,000 after buying an additional 11,336 shares during the period. Van ECK Associates Corp grew its holdings in shares of Fidus Investment by 15.4% during the fourth quarter. Van ECK Associates Corp now owns 365,286 shares of the asset manager’s stock valued at $4,785,000 after buying an additional 48,752 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Fidus Investment by 3.1% in the 4th quarter. BlackRock Inc. now owns 83,879 shares of the asset manager’s stock valued at $1,099,000 after acquiring an additional 2,492 shares during the period. Institutional investors and hedge funds own 22.86% of the company’s stock.
Fidus Investment Company Profile
Fidus Investment Corporation is a business development company specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.
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