Alcentra Capital Corp. (NASDAQ:ABDC) declared that its board has authorized a stock buyback program, which allows the company to repurchase $2.50 million in shares on Monday, November 6th, EventVestor reports. This repurchase authorization allows the asset manager to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts have recently weighed in on ABDC shares. Keefe, Bruyette & Woods restated a “hold” rating and issued a $14.00 price target on shares of Alcentra Capital Corp. in a research note on Tuesday, July 25th. Raymond James Financial, Inc. lowered Alcentra Capital Corp. from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $16.00 to $14.00 in a report on Monday, July 17th. ValuEngine lowered Alcentra Capital Corp. from a “buy” rating to a “hold” rating in a report on Friday, September 1st. TheStreet lowered Alcentra Capital Corp. from a “b” rating to a “c+” rating in a report on Monday, July 24th. Finally, Rowe lowered Alcentra Capital Corp. from an “outperform” rating to an “underperform” rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $12.83.
Alcentra Capital Corp. (NASDAQ ABDC) opened at $7.35 on Friday. The firm has a market capitalization of $103.56, a PE ratio of 4.88 and a beta of 0.68. Alcentra Capital Corp. has a one year low of $7.18 and a one year high of $14.73.
Alcentra Capital Corp. (NASDAQ:ABDC) last released its quarterly earnings data on Monday, November 6th. The asset manager reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.01. The firm had revenue of $7.61 million during the quarter. Alcentra Capital Corp. had a positive return on equity of 11.32% and a negative net margin of 2.25%. equities analysts predict that Alcentra Capital Corp. will post 1.32 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 4th. Shareholders of record on Friday, December 29th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.00 dividend on an annualized basis and a yield of 13.61%. Alcentra Capital Corp.’s dividend payout ratio (DPR) is presently 283.33%.
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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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