Analysts expect Great Elm Capital Corp (NASDAQ:GECC) to announce $6.96 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for Great Elm Capital’s earnings. The lowest sales estimate is $6.82 million and the highest is $7.10 million. Great Elm Capital posted sales of $6.47 million in the same quarter last year, which suggests a positive year over year growth rate of 7.6%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, November 13th.
According to Zacks, analysts expect that Great Elm Capital will report full year sales of $28.65 million for the current year, with estimates ranging from $28.30 million to $29.00 million. For the next year, analysts expect that the firm will report sales of $27.79 million, with estimates ranging from $27.28 million to $28.30 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Great Elm Capital.
Great Elm Capital (NASDAQ:GECC) last released its earnings results on Friday, August 10th. The financial services provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.27. Great Elm Capital had a positive return on equity of 15.45% and a negative net margin of 16.40%. The firm had revenue of $7.16 million during the quarter, compared to analysts’ expectations of $6.99 million.
Separately, Zacks Investment Research lowered Great Elm Capital from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 16th.
In other news, major shareholder Mast Capital Management, Llc sold 45,448 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $9.68, for a total transaction of $439,936.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.27% of the stock is owned by company insiders.
A hedge fund recently raised its stake in Great Elm Capital stock. Quantum Capital Management increased its position in shares of Great Elm Capital Corp (NASDAQ:GECC) by 6.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,988 shares of the financial services provider’s stock after purchasing an additional 8,197 shares during the period. Quantum Capital Management owned 1.28% of Great Elm Capital worth $1,257,000 at the end of the most recent quarter. Institutional investors own 6.71% of the company’s stock.
Shares of Great Elm Capital stock traded down $0.04 during trading hours on Wednesday, reaching $8.11. 16,086 shares of the company’s stock were exchanged, compared to its average volume of 287,948. Great Elm Capital has a 52-week low of $7.76 and a 52-week high of $10.44. The firm has a market cap of $86.71 million, a PE ratio of 5.34 and a beta of 1.21. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 0.60.
The firm also recently announced a monthly dividend, which will be paid on Friday, December 14th. Stockholders of record on Friday, November 30th will be paid a dividend of $0.083 per share. The ex-dividend date is Thursday, November 29th. This represents a $1.00 annualized dividend and a dividend yield of 12.28%. Great Elm Capital’s dividend payout ratio is presently 65.79%.
About Great Elm Capital
Great Elm Capital Corporation is a business development company which specializes in loan and mezzanine, middle market investments. The fund prefers to invest in media, commercial services and supplies, healthcare, telecommunication services, communications equipment. It typically makes equity investments between $3 million and $10 million in companies with revenues between $3 million and $75 million.
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