Hercules Capital, Inc. (HTGC) Expected to Post Quarterly Sales of $45.83 Million
Wall Street analysts expect Hercules Capital, Inc. (NYSE:HTGC) to post sales of $45.83 million for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Hercules Capital’s earnings, with the lowest sales estimate coming in at $45.35 million and the highest estimate coming in at $46.51 million. Hercules Capital reported sales of $45.10 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 1.6%. The firm is scheduled to issue its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Hercules Capital will report full-year sales of $45.83 million for the current year, with estimates ranging from $186.67 million to $188.26 million. For the next year, analysts forecast that the business will post sales of $202.21 million per share, with estimates ranging from $196.00 million to $207.73 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Hercules Capital.
Hercules Capital (NYSE:HTGC) last issued its quarterly earnings results on Thursday, August 3rd. The financial services provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $48.45 million for the quarter, compared to analyst estimates of $48.25 million. Hercules Capital had a net margin of 38.69% and a return on equity of 12.93%. Hercules Capital’s revenue was up 11.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.32 earnings per share.
A number of research analysts have recently issued reports on the company. Compass Point upgraded Hercules Capital from a “neutral” rating to a “buy” rating and set a $13.00 target price on the stock in a research report on Friday, September 8th. Royal Bank Of Canada restated a “buy” rating and issued a $16.00 price objective on shares of Hercules Capital in a report on Sunday, August 6th. Jefferies Group LLC restated a “buy” rating and issued a $16.00 price objective on shares of Hercules Capital in a report on Wednesday, August 16th. BidaskClub lowered Hercules Capital from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, ValuEngine lowered Hercules Capital from a “strong-buy” rating to a “buy” rating in a report on Friday, June 2nd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $14.94.
Hercules Capital (HTGC) traded up 1.40% during midday trading on Monday, reaching $12.35. 533,432 shares of the company’s stock traded hands. The stock has a market cap of $1.02 billion, a P/E ratio of 13.68 and a beta of 0.83. Hercules Capital has a 52-week low of $11.64 and a 52-week high of $15.68. The company’s 50-day moving average price is $12.71 and its 200-day moving average price is $13.71.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 21st. Investors of record on Monday, August 14th were given a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 10.04%. The ex-dividend date was Thursday, August 10th. Hercules Capital’s payout ratio is 134.78%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new position in Hercules Capital in the 2nd quarter valued at about $138,000. Polaris Capital Management LLC grew its position in Hercules Capital by 2.3% in the 2nd quarter. Polaris Capital Management LLC now owns 133,995 shares of the financial services provider’s stock valued at $1,774,000 after acquiring an additional 3,049 shares in the last quarter. Nomura Holdings Inc. grew its position in Hercules Capital by 6.9% in the 2nd quarter. Nomura Holdings Inc. now owns 360,947 shares of the financial services provider’s stock valued at $4,782,000 after acquiring an additional 23,271 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Hercules Capital by 29.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,858 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 2,034 shares in the last quarter. Finally, Ares Management LLC grew its position in Hercules Capital by 654.8% in the 2nd quarter. Ares Management LLC now owns 764,189 shares of the financial services provider’s stock valued at $10,117,000 after acquiring an additional 662,950 shares in the last quarter. 44.64% of the stock is owned by institutional investors.
About Hercules Capital
Hercules Capital, Inc is a specialty finance company. The Company is an internally managed, non-diversified, closed-end investment company. The Company focuses on providing senior secured venture growth loans to venture capital-backed companies in a range of technology, life sciences, and sustainable and renewable technology industries.
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