Zacks: Analysts Expect Fidus Investment Co. (NASDAQ:FDUS) Will Announce Quarterly Sales of $20.08 Million

Wall Street brokerages expect Fidus Investment Co. (NASDAQ:FDUS) to post sales of $20.08 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Fidus Investment’s earnings. The lowest sales estimate is $19.56 million and the highest is $20.53 million. Fidus Investment posted sales of $21.08 million in the same quarter last year, which would indicate a negative year over year growth rate of 4.7%. The firm is expected to report its next earnings results on Thursday, November 4th.

On average, analysts expect that Fidus Investment will report full year sales of $85.95 million for the current financial year, with estimates ranging from $85.01 million to $86.89 million. For the next financial year, analysts forecast that the firm will report sales of $84.80 million, with estimates ranging from $83.19 million to $87.41 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Fidus Investment.

Fidus Investment (NASDAQ:FDUS) last issued its quarterly earnings data on Thursday, August 5th. The asset manager reported $0.42 EPS for the quarter, topping the consensus estimate of $0.36 by $0.06. Fidus Investment had a net margin of 97.58% and a return on equity of 10.19%. The firm had revenue of $21.83 million for the quarter, compared to analyst estimates of $19.99 million.

A number of equities research analysts have issued reports on the stock. Raymond James increased their target price on shares of Fidus Investment from $19.00 to $19.50 and gave the stock an “outperform” rating in a report on Monday, August 9th. Hovde Group upgraded shares of Fidus Investment from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $18.50 to $19.00 in a report on Monday, August 9th. Zacks Investment Research upgraded shares of Fidus Investment from a “sell” rating to a “hold” rating in a report on Wednesday, August 11th. Finally, TheStreet upgraded shares of Fidus Investment from a “c” rating to a “b-” rating in a report on Friday, May 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $18.17.

Shares of FDUS stock traded down $0.02 during trading hours on Monday, hitting $17.63. The company had a trading volume of 105,681 shares, compared to its average volume of 123,123. The stock has a market capitalization of $430.82 million, a PE ratio of 4.92 and a beta of 1.96. Fidus Investment has a fifty-two week low of $9.28 and a fifty-two week high of $18.52. The company’s fifty day moving average is $17.41 and its 200 day moving average is $16.90.

The company also recently disclosed a Variable dividend, which will be paid on Tuesday, September 28th. Stockholders of record on Tuesday, September 14th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Monday, September 13th. This represents a dividend yield of 7.3%. Fidus Investment’s payout ratio is 82.58%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ares Management LLC raised its holdings in shares of Fidus Investment by 98.8% in the 1st quarter. Ares Management LLC now owns 727,562 shares of the asset manager’s stock valued at $11,314,000 after purchasing an additional 361,572 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Fidus Investment by 17.5% in the 1st quarter. Van ECK Associates Corp now owns 429,181 shares of the asset manager’s stock valued at $6,674,000 after purchasing an additional 63,895 shares in the last quarter. Morgan Stanley raised its holdings in shares of Fidus Investment by 13.5% in the 2nd quarter. Morgan Stanley now owns 377,857 shares of the asset manager’s stock valued at $6,424,000 after purchasing an additional 44,957 shares in the last quarter. Novare Capital Management LLC raised its holdings in shares of Fidus Investment by 3.8% in the 1st quarter. Novare Capital Management LLC now owns 242,078 shares of the asset manager’s stock valued at $3,764,000 after purchasing an additional 8,800 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its holdings in shares of Fidus Investment by 4.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 151,651 shares of the asset manager’s stock valued at $2,578,000 after purchasing an additional 6,799 shares in the last quarter. Institutional investors and hedge funds own 23.21% of the company’s stock.

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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