Equities research analysts expect that Harvest Capital Credit Corp (NASDAQ:HCAP) will report $4.03 million in sales for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Harvest Capital Credit’s earnings, with estimates ranging from $3.99 million to $4.06 million. Harvest Capital Credit posted sales of $5.08 million in the same quarter last year, which would indicate a negative year over year growth rate of 20.7%. The business is scheduled to report its next earnings results on Wednesday, August 8th.
On average, analysts expect that Harvest Capital Credit will report full year sales of $16.79 million for the current year, with estimates ranging from $16.75 million to $16.82 million. For the next financial year, analysts expect that the business will post sales of $21.07 million per share, with estimates ranging from $20.60 million to $21.54 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Harvest Capital Credit.
Harvest Capital Credit (NASDAQ:HCAP) last issued its quarterly earnings results on Thursday, May 10th. The investment management company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.09). The company had revenue of $3.74 million during the quarter, compared to analyst estimates of $4.39 million. Harvest Capital Credit had a net margin of 7.70% and a return on equity of 9.62%.
HCAP has been the subject of a number of research reports. Zacks Investment Research raised shares of Harvest Capital Credit from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 11th. ValuEngine lowered shares of Harvest Capital Credit from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. Finally, Keefe, Bruyette & Woods set a $12.00 price target on shares of Harvest Capital Credit and gave the company a “hold” rating in a report on Monday, April 2nd. Two equities research analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. Harvest Capital Credit currently has a consensus rating of “Hold” and a consensus price target of $12.00.
Shares of Harvest Capital Credit traded up $0.01, reaching $10.61, during midday trading on Tuesday, Marketbeat.com reports. The company had a trading volume of 14,715 shares, compared to its average volume of 16,069. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.84 and a quick ratio of 0.84. The firm has a market cap of $68.18 million, a P/E ratio of 8.29 and a beta of 0.74. Harvest Capital Credit has a 1-year low of $9.90 and a 1-year high of $14.09.
The firm also recently announced a monthly dividend, which will be paid on Thursday, July 26th. Shareholders of record on Thursday, July 19th will be issued a dividend of $0.095 per share. This represents a $1.14 dividend on an annualized basis and a yield of 10.74%. The ex-dividend date is Wednesday, July 18th. Harvest Capital Credit’s dividend payout ratio is presently 89.06%.
In other Harvest Capital Credit news, CEO Joseph A. Jolson bought 3,059 shares of the stock in a transaction on Thursday, June 28th. The stock was purchased at an average price of $10.50 per share, with a total value of $32,119.50. Following the acquisition, the chief executive officer now owns 20,000 shares of the company’s stock, valued at $210,000. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Jmp Group Llc bought 2,400 shares of the stock in a transaction on Monday, April 16th. The shares were acquired at an average cost of $10.49 per share, with a total value of $25,176.00. The disclosure for this purchase can be found here. Insiders have acquired a total of 183,570 shares of company stock valued at $1,891,175 in the last ninety days. Company insiders own 9.30% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in HCAP. Greenwich Investment Management Inc. acquired a new stake in Harvest Capital Credit during the 1st quarter worth $431,000. Ladenburg Thalmann Financial Services Inc. lifted its position in Harvest Capital Credit by 29.0% in the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 40,829 shares of the investment management company’s stock valued at $419,000 after acquiring an additional 9,179 shares in the last quarter. Finally, Gables Capital Management Inc. bought a new stake in Harvest Capital Credit in the 1st quarter valued at $2,338,000. 8.74% of the stock is owned by hedge funds and other institutional investors.
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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