Great Elm Capital Corp (GECC) Expected to Announce Quarterly Sales of $6.96 Million

Brokerages expect Great Elm Capital Corp (NASDAQ:GECC) to announce $6.96 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Great Elm Capital’s earnings, with estimates ranging from $6.82 million to $7.10 million. Great Elm Capital posted sales of $6.47 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.6%. The firm is expected to report its next quarterly earnings report on Monday, November 5th.

According to Zacks, analysts expect that Great Elm Capital will report full year sales of $28.65 million for the current financial year, with estimates ranging from $28.30 million to $29.00 million. For the next financial year, analysts expect that the firm will post sales of $27.79 million, with estimates ranging from $27.28 million to $28.30 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Great Elm Capital.

Great Elm Capital (NASDAQ:GECC) last announced its quarterly earnings data on Friday, August 10th. The financial services provider reported $0.57 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.27. Great Elm Capital had a positive return on equity of 15.45% and a negative net margin of 16.40%. The business had revenue of $7.16 million for the quarter, compared to the consensus estimate of $6.99 million.

Separately, Zacks Investment Research upgraded Great Elm Capital from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Wednesday, August 15th.

Shares of Great Elm Capital stock opened at $8.10 on Wednesday. Great Elm Capital has a 52 week low of $7.76 and a 52 week high of $10.44. The stock has a market capitalization of $86.50 million, a PE ratio of 5.33 and a beta of 1.21. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.60.

The company also recently announced a monthly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a $0.083 dividend. The ex-dividend date is Thursday, November 29th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 12.30%. Great Elm Capital’s dividend payout ratio is currently 65.79%.

In related news, major shareholder Mast Capital Management, Llc sold 2,276,279 shares of the business’s stock in a transaction dated Monday, October 22nd. The stock was sold at an average price of $7.55, for a total value of $17,185,906.45. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.27% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in Great Elm Capital stock. Quantum Capital Management increased its position in Great Elm Capital Corp (NASDAQ:GECC) by 6.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,988 shares of the financial services provider’s stock after buying an additional 8,197 shares during the period. Quantum Capital Management owned 1.28% of Great Elm Capital worth $1,257,000 at the end of the most recent quarter. Institutional investors own 6.71% of the company’s stock.

About Great Elm Capital

Great Elm Capital Corporation is a business development company which specializes in loan and mezzanine, middle market investments. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment. It typically makes equity investments between $3 million and $10 million in companies with revenues between $3 million and $75 million.

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