Analysts predict that Harvest Capital Credit Corp (NASDAQ:HCAP) will post $4.39 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Harvest Capital Credit’s earnings. The lowest sales estimate is $4.14 million and the highest is $4.64 million. Harvest Capital Credit posted sales of $4.67 million in the same quarter last year, which indicates a negative year-over-year growth rate of 6%. The business is expected to report its next earnings results on Wednesday, May 9th.
On average, analysts expect that Harvest Capital Credit will report full-year sales of $4.39 million for the current fiscal year, with estimates ranging from $17.14 million to $19.19 million. For the next year, analysts forecast that the business will report sales of $20.26 million per share, with estimates ranging from $20.11 million to $20.41 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Harvest Capital Credit.
Harvest Capital Credit (NASDAQ:HCAP) last released its quarterly earnings results on Monday, April 2nd. The investment management company reported $0.30 EPS for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.01). The firm had revenue of $4.14 million during the quarter, compared to analyst estimates of $4.18 million. Harvest Capital Credit had a net margin of 14.76% and a return on equity of 11.04%.
A number of equities analysts have commented on HCAP shares. Zacks Investment Research lowered shares of Harvest Capital Credit from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. Keefe, Bruyette & Woods set a $12.00 price target on shares of Harvest Capital Credit and gave the company a “hold” rating in a research report on Monday, April 2nd. Janney Montgomery Scott lowered shares of Harvest Capital Credit from a “buy” rating to a “neutral” rating in a research report on Friday, February 9th. Finally, ValuEngine lowered shares of Harvest Capital Credit from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 2nd. Four equities research analysts have rated the stock with a hold rating, Harvest Capital Credit has a consensus rating of “Hold” and an average price target of $12.00.
In related news, major shareholder Jmp Group Llc bought 5,627 shares of the company’s stock in a transaction on Monday, April 2nd. The stock was bought at an average cost of $10.31 per share, with a total value of $58,014.37. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last ninety days, insiders acquired 64,561 shares of company stock valued at $689,617. Insiders own 9.50% of the company’s stock.
An institutional investor recently bought a new position in Harvest Capital Credit stock. Macquarie Group Ltd. bought a new position in Harvest Capital Credit Corp (NASDAQ:HCAP) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 37,629 shares of the investment management company’s stock, valued at approximately $503,000. Macquarie Group Ltd. owned about 0.59% of Harvest Capital Credit at the end of the most recent quarter. Institutional investors own 5.59% of the company’s stock.
NASDAQ:HCAP opened at $10.22 on Friday. The stock has a market capitalization of $65.61, a price-to-earnings ratio of 7.99 and a beta of 0.74. Harvest Capital Credit has a 12 month low of $9.92 and a 12 month high of $14.12. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.39.
The business also recently announced a monthly dividend, which was paid on Tuesday, March 27th. Shareholders of record on Tuesday, March 20th were paid a $0.095 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 11.15%. The ex-dividend date of this dividend was Monday, March 19th. Harvest Capital Credit’s dividend payout ratio is presently 89.06%.
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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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