Equities research analysts expect Harvest Capital Credit Corp (NASDAQ:HCAP) to report $4.18 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for Harvest Capital Credit’s earnings. The highest sales estimate is $4.25 million and the lowest is $4.11 million. Harvest Capital Credit reported sales of $5.20 million in the same quarter last year, which would suggest a negative year over year growth rate of 19.6%. The firm is expected to report its next earnings report on Wednesday, March 21st.
According to Zacks, analysts expect that Harvest Capital Credit will report full year sales of $4.18 million for the current fiscal year, with estimates ranging from $18.67 million to $18.82 million. For the next fiscal year, analysts anticipate that the company will report sales of $19.53 million per share, with estimates ranging from $18.34 million to $20.72 million. Zacks Investment Research’s sales averages are an average based on a survey of analysts that follow Harvest Capital Credit.
Harvest Capital Credit (NASDAQ:HCAP) last released its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.36 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.02). Harvest Capital Credit had a return on equity of 11.04% and a net margin of 14.76%.
Several research analysts have weighed in on HCAP shares. Zacks Investment Research downgraded shares of Harvest Capital Credit from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. ValuEngine downgraded shares of Harvest Capital Credit from a “buy” rating to a “hold” rating in a research report on Wednesday, November 29th. Finally, TheStreet downgraded shares of Harvest Capital Credit from a “b-” rating to a “c+” rating in a research report on Wednesday, November 29th.
Harvest Capital Credit (NASDAQ HCAP) traded up $0.04 on Tuesday, reaching $11.51. 16,101 shares of the company’s stock traded hands, compared to its average volume of 31,582. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.39. Harvest Capital Credit has a fifty-two week low of $10.51 and a fifty-two week high of $14.65. The company has a market capitalization of $73.83, a P/E ratio of 24.49 and a beta of 0.69.
The firm also recently declared a monthly dividend, which was paid on Friday, January 26th. Shareholders of record on Friday, January 19th were given a $0.1125 dividend. The ex-dividend date was Thursday, January 18th. This is an increase from Harvest Capital Credit’s previous monthly dividend of $0.11. This represents a $1.35 annualized dividend and a yield of 11.73%. Harvest Capital Credit’s dividend payout ratio (DPR) is presently 287.23%.
In other news, CFO Craig R. Kitchin sold 12,456 shares of the firm’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $12.25, for a total transaction of $152,586.00. Following the sale, the chief financial officer now directly owns 8,694 shares in the company, valued at approximately $106,501.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jmp Group Llc acquired 5,675 shares of the firm’s stock in a transaction dated Saturday, December 29th. The shares were purchased at an average price of $10.99 per share, for a total transaction of $62,368.25. The disclosure for this purchase can be found here. Insiders acquired 142,566 shares of company stock worth $1,541,218 over the last quarter. Insiders own 9.50% of the company’s stock.
An institutional investor recently raised its position in Harvest Capital Credit stock. Ladenburg Thalmann Financial Services Inc. increased its position in shares of Harvest Capital Credit Corp (NASDAQ:HCAP) by 21.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,214 shares of the investment management company’s stock after purchasing an additional 6,282 shares during the period. Ladenburg Thalmann Financial Services Inc. owned 0.54% of Harvest Capital Credit worth $471,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 5.72% of the company’s stock.
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Harvest Capital Credit Company Profile
Harvest Capital Credit Corporation is an externally managed, closed-end, non-diversified management investment company. The Company operates as a business development company and provides customized financing solutions for small to mid-sized companies. Its investment objective is to generate both current income and capital appreciation by making direct investments in the form of subordinated debt, senior debt, and to a lesser extent, minority equity investments in privately-held the United States small to mid-sized companies.
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