Wall Street analysts expect Fidus Investment Corp (NASDAQ:FDUS) to announce sales of $18.39 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Fidus Investment’s earnings, with the lowest sales estimate coming in at $17.82 million and the highest estimate coming in at $19.06 million. Fidus Investment reported sales of $16.23 million in the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The firm is scheduled to announce its next earnings results on Thursday, May 3rd.
On average, analysts expect that Fidus Investment will report full year sales of $18.39 million for the current fiscal year, with estimates ranging from $72.42 million to $77.56 million. For the next financial year, analysts anticipate that the company will post sales of $80.70 million per share, with estimates ranging from $73.41 million to $90.57 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Fidus Investment.
Fidus Investment (NASDAQ:FDUS) last issued its quarterly earnings data on Thursday, March 1st. The asset manager reported $0.31 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.06). Fidus Investment had a net margin of 64.06% and a return on equity of 8.91%. The firm had revenue of $17.07 million during the quarter, compared to analyst estimates of $17.76 million.
Several analysts have issued reports on the stock. TheStreet downgraded shares of Fidus Investment from a “b-” rating to a “c+” rating in a research report on Tuesday, March 13th. Zacks Investment Research downgraded shares of Fidus Investment from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Ladenburg Thalmann Financial Services started coverage on shares of Fidus Investment in a research report on Friday, February 16th. They set a “buy” rating for the company. BidaskClub downgraded shares of Fidus Investment from a “sell” rating to a “strong sell” rating in a research report on Tuesday, March 13th. Finally, ValuEngine downgraded shares of Fidus Investment from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.50.
Shares of FDUS stock traded down $0.16 during trading hours on Thursday, reaching $12.87. 131,236 shares of the company’s stock traded hands, compared to its average volume of 128,273. Fidus Investment has a one year low of $12.63 and a one year high of $18.21. The firm has a market capitalization of $318.11, a P/E ratio of 6.97 and a beta of 1.07.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 23rd. Stockholders of record on Friday, March 9th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 12.12%. The ex-dividend date is Thursday, March 8th. Fidus Investment’s payout ratio is currently 83.87%.
In related news, President Thomas Charles Lauer purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, March 8th. The stock was acquired at an average price of $12.80 per share, with a total value of $51,200.00. Following the completion of the transaction, the president now owns 74,600 shares of the company’s stock, valued at $954,880. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Shelby E. Sherard purchased 7,000 shares of the firm’s stock in a transaction dated Wednesday, March 7th. The shares were bought at an average cost of $13.10 per share, with a total value of $91,700.00. Following the transaction, the insider now directly owns 10,435 shares of the company’s stock, valued at approximately $136,698.50. The disclosure for this purchase can be found here. Insiders have bought 16,000 shares of company stock valued at $206,710 in the last three months. Corporate insiders own 1.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. grew its position in shares of Fidus Investment by 1,166.3% during the fourth quarter. Macquarie Group Ltd. now owns 7,598 shares of the asset manager’s stock worth $115,000 after buying an additional 6,998 shares in the last quarter. Millennium Management LLC grew its position in shares of Fidus Investment by 63.1% during the fourth quarter. Millennium Management LLC now owns 48,724 shares of the asset manager’s stock worth $740,000 after buying an additional 18,851 shares in the last quarter. Two Sigma Investments LP boosted its holdings in Fidus Investment by 135.1% in the fourth quarter. Two Sigma Investments LP now owns 131,719 shares of the asset manager’s stock worth $1,999,000 after purchasing an additional 75,691 shares during the period. Two Sigma Advisers LP boosted its holdings in Fidus Investment by 40.3% in the fourth quarter. Two Sigma Advisers LP now owns 165,912 shares of the asset manager’s stock worth $2,519,000 after purchasing an additional 47,676 shares during the period. Finally, Guggenheim Capital LLC boosted its holdings in Fidus Investment by 8.0% in the fourth quarter. Guggenheim Capital LLC now owns 87,742 shares of the asset manager’s stock worth $1,332,000 after purchasing an additional 6,484 shares during the period. 31.76% of the stock is owned by institutional investors and hedge funds.
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About Fidus Investment
Fidus Investment Corporation is a closed-end, non-diversified investment company. The Company provides customized debt and equity financing solutions to lower middle-market companies. The Company’s investment objective is to provide attractive risk-adjusted returns by generating both current income from its debt investments and capital appreciation from its equity-related investments.
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