Analysts expect that Hercules Capital Inc (NYSE:HTGC) will post $65.97 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Hercules Capital’s earnings, with the highest sales estimate coming in at $68.62 million and the lowest estimate coming in at $59.64 million. Hercules Capital reported sales of $52.60 million during the same quarter last year, which would suggest a positive year over year growth rate of 25.4%. The business is scheduled to issue its next earnings results on Thursday, November 7th.
According to Zacks, analysts expect that Hercules Capital will report full year sales of $259.29 million for the current year, with estimates ranging from $236.00 million to $266.73 million. For the next year, analysts anticipate that the business will report sales of $282.37 million, with estimates ranging from $238.00 million to $302.30 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Hercules Capital.
Hercules Capital (NYSE:HTGC) last released its earnings results on Thursday, August 1st. The financial services provider reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.03. The company had revenue of $69.26 million during the quarter, compared to analysts’ expectations of $63.07 million. Hercules Capital had a return on equity of 12.25% and a net margin of 53.97%. The firm’s revenue for the quarter was up 39.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.29 EPS.
A number of research analysts have recently commented on HTGC shares. Zacks Investment Research cut Hercules Capital from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Compass Point set a $13.00 price objective on Hercules Capital and gave the company a “hold” rating in a research note on Tuesday, July 2nd. Wells Fargo & Co cut Hercules Capital from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $12.75 to $13.25 in a research note on Monday, May 6th. They noted that the move was a valuation call. TheStreet cut Hercules Capital from a “b-” rating to a “c+” rating in a research note on Monday, July 1st. Finally, B. Riley cut Hercules Capital from a “buy” rating to a “neutral” rating in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $13.38.
A number of large investors have recently added to or reduced their stakes in the business. Gilman Hill Asset Management LLC grew its holdings in Hercules Capital by 0.3% during the second quarter. Gilman Hill Asset Management LLC now owns 377,995 shares of the financial services provider’s stock valued at $4,846,000 after purchasing an additional 1,125 shares during the period. Stephens Inc. AR grew its holdings in Hercules Capital by 6.5% during the second quarter. Stephens Inc. AR now owns 23,516 shares of the financial services provider’s stock valued at $301,000 after purchasing an additional 1,440 shares during the period. LPL Financial LLC grew its holdings in Hercules Capital by 1.6% during the second quarter. LPL Financial LLC now owns 122,279 shares of the financial services provider’s stock valued at $1,568,000 after purchasing an additional 1,877 shares during the period. Trustcore Financial Services LLC bought a new stake in Hercules Capital during the first quarter valued at about $25,000. Finally, Osborn Williams & Donohoe LLC bought a new stake in Hercules Capital during the first quarter valued at about $30,000. 31.23% of the stock is owned by institutional investors and hedge funds.
Shares of HTGC traded up $0.22 on Wednesday, reaching $13.07. The stock had a trading volume of 721,300 shares, compared to its average volume of 671,938. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 10.98 and a beta of 0.87. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.31 and a current ratio of 1.31. The company has a 50-day simple moving average of $12.93 and a 200-day simple moving average of $12.97. Hercules Capital has a 12-month low of $10.57 and a 12-month high of $14.17.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 12th will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.28 annualized dividend and a dividend yield of 9.79%. This is a positive change from Hercules Capital’s previous quarterly dividend of $0.31. Hercules Capital’s payout ratio is presently 107.56%.
About Hercules Capital
Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups, to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.
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