Wall Street brokerages forecast that Gladstone Capital Co. (NASDAQ:GLAD) will report sales of $11.60 million for the current quarter, according to Zacks. Two analysts have provided estimates for Gladstone Capital’s earnings, with the highest sales estimate coming in at $11.79 million and the lowest estimate coming in at $11.41 million. Gladstone Capital posted sales of $8.79 million in the same quarter last year, which suggests a positive year-over-year growth rate of 32%. The company is expected to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that Gladstone Capital will report full-year sales of $46.75 million for the current fiscal year, with estimates ranging from $46.53 million to $46.98 million. For the next fiscal year, analysts anticipate that the company will report sales of $50.86 million per share, with estimates ranging from $48.56 million to $53.16 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Gladstone Capital.
Gladstone Capital (NASDAQ:GLAD) last issued its quarterly earnings data on Monday, February 5th. The investment management company reported $0.21 EPS for the quarter, meeting the consensus estimate of $0.21. Gladstone Capital had a return on equity of 9.97% and a net margin of 58.48%. The firm had revenue of $10.86 million during the quarter, compared to analyst estimates of $10.72 million.
GLAD has been the subject of several analyst reports. ValuEngine upgraded Gladstone Capital from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 7th. Ladenburg Thalmann upgraded Gladstone Capital from a “neutral” rating to a “buy” rating in a report on Wednesday, February 7th. National Securities upgraded Gladstone Capital from a “sell” rating to a “neutral” rating and set a $8.00 price objective for the company in a report on Tuesday, February 6th. Zacks Investment Research upgraded Gladstone Capital from a “hold” rating to a “buy” rating and set a $9.75 price objective for the company in a report on Wednesday, April 11th. Finally, TheStreet lowered Gladstone Capital from a “b” rating to a “c+” rating in a report on Tuesday, February 6th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $9.10.
In other news, President Robert L. Marcotte bought 11,400 shares of the business’s stock in a transaction that occurred on Thursday, February 8th. The shares were purchased at an average cost of $9.04 per share, with a total value of $103,056.00. Following the transaction, the president now directly owns 405,517 shares in the company, valued at $3,665,873.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last three months, insiders purchased 13,729 shares of company stock worth $124,164. 5.89% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Inc. increased its position in shares of Gladstone Capital by 156.8% in the 4th quarter. Advisor Group Inc. now owns 11,160 shares of the investment management company’s stock valued at $102,000 after acquiring an additional 6,815 shares during the period. JPMorgan Chase & Co. increased its position in shares of Gladstone Capital by 9.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 87,117 shares of the investment management company’s stock valued at $820,000 after acquiring an additional 7,586 shares during the period. Mckinley Capital Management LLC Delaware increased its position in shares of Gladstone Capital by 8.5% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 136,864 shares of the investment management company’s stock valued at $1,260,000 after acquiring an additional 10,724 shares during the period. Legal & General Group Plc increased its position in shares of Gladstone Capital by 22.5% in the 3rd quarter. Legal & General Group Plc now owns 75,544 shares of the investment management company’s stock valued at $717,000 after acquiring an additional 13,875 shares during the period. Finally, BlackRock Inc. increased its position in shares of Gladstone Capital by 9.6% in the 4th quarter. BlackRock Inc. now owns 158,482 shares of the investment management company’s stock valued at $1,460,000 after acquiring an additional 13,888 shares during the period. 13.60% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GLAD traded down $0.01 during midday trading on Friday, hitting $8.62. 65,350 shares of the company’s stock traded hands, compared to its average volume of 131,406. Gladstone Capital has a 1 year low of $7.80 and a 1 year high of $10.12. The company has a current ratio of 5.96, a quick ratio of 5.96 and a debt-to-equity ratio of 0.58. The firm has a market cap of $232.50, a PE ratio of 10.26 and a beta of 1.09.
The company also recently announced a monthly dividend, which will be paid on Monday, April 30th. Investors of record on Friday, April 20th will be given a $0.07 dividend. This represents a $0.84 annualized dividend and a dividend yield of 9.74%. The ex-dividend date is Thursday, April 19th. Gladstone Capital’s payout ratio is 100.00%.
About Gladstone Capital
Gladstone Capital Corporation is a closed-end, non-diversified management investment company, operating as a business development company (BDC). The objectives of the Company are to achieve and grow current income by investing in debt securities of established businesses that it believes will provide stable earnings and cash flow to pay expenses, make principal and interest payments on its outstanding indebtedness and make distributions to stockholders that grow over time, and to provide its stockholders with long-term capital appreciation in the value of its assets by investing in equity securities of established businesses that it believes can grow over time to permit it to sell its equity investments for capital gains.
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