Harvest Capital Credit Corp (NASDAQ:HCAP) announced a monthly dividend on Monday, November 12th, Wall Street Journal reports. Stockholders of record on Friday, December 14th will be given a dividend of 0.095 per share by the investment management company on Friday, December 21st. This represents a $1.14 dividend on an annualized basis and a dividend yield of 11.17%. The ex-dividend date is Thursday, December 13th.
Harvest Capital Credit has a payout ratio of 118.8% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Harvest Capital Credit to earn $1.05 per share next year, which means the company may not be able to cover its $1.14 annual dividend with an expected future payout ratio of 108.6%.
NASDAQ:HCAP opened at $10.21 on Friday. The firm has a market capitalization of $65.66 million, a PE ratio of 10.35 and a beta of 0.74. Harvest Capital Credit has a 1-year low of $9.90 and a 1-year high of $11.84. The company has a current ratio of 9.73, a quick ratio of 9.73 and a debt-to-equity ratio of 0.68.
Harvest Capital Credit (NASDAQ:HCAP) last released its quarterly earnings data on Thursday, November 8th. The investment management company reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.01). The business had revenue of $4.32 million during the quarter, compared to analyst estimates of $4.47 million. Harvest Capital Credit had a return on equity of 7.86% and a net margin of 30.83%. Research analysts predict that Harvest Capital Credit will post 0.93 EPS for the current fiscal year.
A number of analysts have recently weighed in on HCAP shares. TheStreet lowered shares of Harvest Capital Credit from a “b” rating to a “c+” rating in a research note on Tuesday, September 4th. ValuEngine upgraded shares of Harvest Capital Credit from a “sell” rating to a “hold” rating in a research note on Tuesday, September 4th. Finally, Zacks Investment Research lowered shares of Harvest Capital Credit from a “hold” rating to a “sell” rating in a research note on Tuesday, November 13th. One equities research analyst has rated the stock with a sell rating and three have issued a hold rating to the company. The stock has an average rating of “Hold” and an average price target of $12.00.
In other news, CEO Joseph A. Jolson purchased 7,460 shares of the stock in a transaction that occurred on Tuesday, November 6th. The shares were purchased at an average cost of $10.50 per share, with a total value of $78,330.00. Following the completion of the acquisition, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $210,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Joseph A. Jolson purchased 12,995 shares of the stock in a transaction that occurred on Wednesday, October 17th. The shares were purchased at an average cost of $10.50 per share, for a total transaction of $136,447.50. Following the completion of the acquisition, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $210,000. The disclosure for this purchase can be found here. Insiders bought 29,533 shares of company stock worth $310,001 in the last quarter. Company insiders own 9.30% of the company’s stock.
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Harvest Capital Credit Company Profile
Harvest Capital Credit Corporation is a business development company providing structured credit to small businesses and specializing in leveraged buyouts, add-on acquisitions, recapitalizations, growth financings and debt refinancing investments. It prefers to invest in North America-based companies.
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