Brokerages Anticipate Fidus Investment Corp (FDUS) Will Announce Quarterly Sales of $18.76 Million

Wall Street analysts predict that Fidus Investment Corp (NASDAQ:FDUS) will announce $18.76 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Fidus Investment’s earnings, with the lowest sales estimate coming in at $18.29 million and the highest estimate coming in at $19.10 million. Fidus Investment posted sales of $17.07 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.9%. The company is expected to issue its next quarterly earnings results on Thursday, March 7th.

According to Zacks, analysts expect that Fidus Investment will report full-year sales of $72.97 million for the current financial year, with estimates ranging from $72.50 million to $73.32 million. For the next financial year, analysts forecast that the company will post sales of $77.54 million, with estimates ranging from $76.71 million to $78.23 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover Fidus Investment.

Fidus Investment (NASDAQ:FDUS) last announced its quarterly earnings results on Thursday, November 1st. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.05). The company had revenue of $17.87 million for the quarter, compared to analysts’ expectations of $18.38 million. Fidus Investment had a net margin of 69.97% and a return on equity of 8.25%.

A number of brokerages have recently issued reports on FDUS. ValuEngine cut shares of Fidus Investment from a “hold” rating to a “sell” rating in a research note on Tuesday, September 18th. Zacks Investment Research lowered shares of Fidus Investment from a “hold” rating to a “sell” rating in a report on Wednesday, October 3rd. BidaskClub raised shares of Fidus Investment from a “hold” rating to a “buy” rating in a research report on Wednesday, October 31st. Finally, TheStreet downgraded shares of Fidus Investment from a “b-” rating to a “c+” rating in a research report on Thursday, December 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. Fidus Investment currently has a consensus rating of “Hold” and an average price target of $14.50.

In other news, insider Shelby E. Sherard bought 3,675 shares of the firm’s stock in a transaction that occurred on Thursday, December 6th. The stock was purchased at an average cost of $13.60 per share, for a total transaction of $49,980.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 1.30% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. WESPAC Advisors LLC raised its position in Fidus Investment by 65.2% during the third quarter. WESPAC Advisors LLC now owns 81,585 shares of the asset manager’s stock worth $1,193,000 after acquiring an additional 32,209 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Fidus Investment by 4.7% during the third quarter. Advisors Asset Management Inc. now owns 233,234 shares of the asset manager’s stock worth $3,410,000 after buying an additional 10,565 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in shares of Fidus Investment by 21.3% in the third quarter. Oppenheimer & Co. Inc. now owns 36,494 shares of the asset manager’s stock valued at $534,000 after purchasing an additional 6,400 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of Fidus Investment in the second quarter valued at about $686,000. Finally, Mackenzie Financial Corp grew its holdings in shares of Fidus Investment by 73.1% in the third quarter. Mackenzie Financial Corp now owns 54,327 shares of the asset manager’s stock valued at $794,000 after purchasing an additional 22,946 shares during the period. Hedge funds and other institutional investors own 27.72% of the company’s stock.

Fidus Investment stock traded down $0.05 during midday trading on Friday, reaching $12.85. 36,100 shares of the company traded hands, compared to its average volume of 91,225. The company has a market cap of $314.84 million, a price-to-earnings ratio of 9.05 and a beta of 1.06. Fidus Investment has a 12 month low of $11.48 and a 12 month high of $15.45.

The company also recently announced a quarterly dividend, which was paid on Friday, December 21st. Investors of record on Friday, December 7th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 12.14%. The ex-dividend date of this dividend was Thursday, December 6th. Fidus Investment’s dividend payout ratio is currently 109.09%.

About Fidus Investment

Fidus Investment Corporation is a business development company specializing in leveraged buyouts, refinancings, change of ownership transactions, recapitalizations, strategic acquisitions, mezzanine, growth capital, business expansion, lower middle market investments, debt investments, subordinated and second lien loans, senior secured and unitranche debt, preferred equity, warrants, subordinated debt, senior subordinated notes, junior secured loans, and unitranche loans.

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