Analysts Expect Harvest Capital Credit Corp (HCAP) Will Post Earnings of $0.33 Per Share

Brokerages predict that Harvest Capital Credit Corp (NASDAQ:HCAP) will announce earnings of $0.33 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Harvest Capital Credit Corp’s earnings. Harvest Capital Credit Corp also posted earnings per share of $0.33 in the same quarter last year. The company is scheduled to report its next quarterly earnings results on Tuesday, August 8th.

On average, analysts expect that Harvest Capital Credit Corp will report full-year earnings of $1.37 per share for the current year, with EPS estimates ranging from $1.36 to $1.38. For the next fiscal year, analysts forecast that the business will report earnings of $1.40 per share, with EPS estimates ranging from $1.36 to $1.44. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Harvest Capital Credit Corp.

Harvest Capital Credit Corp (NASDAQ:HCAP) last released its earnings results on Wednesday, May 10th. The investment management company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by $0.05. The business had revenue of $4.67 million during the quarter, compared to the consensus estimate of $5.07 million. Harvest Capital Credit Corp had a net margin of 23.91% and a return on equity of 12.62%.

Several research analysts have weighed in on HCAP shares. Zacks Investment Research downgraded shares of Harvest Capital Credit Corp from a “hold” rating to a “strong sell” rating in a report on Monday, March 20th. Keefe, Bruyette & Woods set a $14.00 price objective on shares of Harvest Capital Credit Corp and gave the stock a “hold” rating in a report on Wednesday, May 10th.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in HCAP. Morgan Stanley increased its position in Harvest Capital Credit Corp by 233.5% in the first quarter. Morgan Stanley now owns 51,693 shares of the investment management company’s stock valued at $682,000 after buying an additional 36,193 shares during the last quarter. Shelton Capital Management acquired a new position in Harvest Capital Credit Corp during the fourth quarter valued at $494,000. Goldman Sachs Group Inc. increased its position in Harvest Capital Credit Corp by 18.9% in the first quarter. Goldman Sachs Group Inc. now owns 36,344 shares of the investment management company’s stock valued at $480,000 after buying an additional 5,772 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in Harvest Capital Credit Corp by 1.7% in the first quarter. Janney Montgomery Scott LLC now owns 73,221 shares of the investment management company’s stock valued at $967,000 after buying an additional 1,235 shares during the last quarter. Hedge funds and other institutional investors own 7.85% of the company’s stock.

Harvest Capital Credit Corp (NASDAQ:HCAP) traded down 0.08% on Monday, reaching $12.99. 20,777 shares of the company were exchanged. Harvest Capital Credit Corp has a 12-month low of $11.99 and a 12-month high of $14.88. The company’s 50-day moving average price is $13.48 and its 200-day moving average price is $13.59.

The firm also recently disclosed a dividend, which will be paid on Friday, May 26th. Shareholders of record on Friday, May 19th will be issued a dividend of $0.1125 per share. The ex-dividend date is Wednesday, May 17th. Harvest Capital Credit Corp’s payout ratio is 158.82%.

TRADEMARK VIOLATION WARNING: “Analysts Expect Harvest Capital Credit Corp (HCAP) Will Post Earnings of $0.33 Per Share” was reported by Markets Daily and is the property of of Markets Daily. If you are accessing this story on another domain, it was illegally stolen and republished in violation of U.S. and international trademark and copyright laws. The legal version of this story can be read at https://www.themarketsdaily.com/2017/05/20/analysts-expect-harvest-capital-credit-corp-hcap-will-post-earnings-of-0-33-per-share.html.

About Harvest Capital Credit Corp

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.

12 Month Chart for NASDAQ:HCAP

Get a free copy of the Zacks research report on Harvest Capital Credit Corp (HCAP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Harvest Capital Credit Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Harvest Capital Credit Corp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply