Brokers Set Expectations for Hercules Capital, Inc.'s Q4 2023 Earnings (NYSE:HTGC)

Defense World · Apr 24, 2023 14:53

Hercules Capital, Inc. (NYSE:HTGC – Get Rating) – Investment analysts at Zacks Research lifted their Q4 2023 earnings estimates for shares of Hercules Capital in a research report issued on Wednesday, April 19th. Zacks Research analyst N. Kataruka now forecasts that the financial services provider will post earnings per share of $0.48 for the quarter, up from their previous forecast of $0.47. The consensus estimate for Hercules Capital's current full-year earnings is $1.91 per share. Zacks Research also issued estimates for Hercules Capital's Q4 2024 earnings at $0.41 EPS and FY2024 earnings at $1.81 EPS.

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Hercules Capital (NYSE:HTGC – Get Rating) last posted its earnings results on Thursday, February 16th. The financial services provider reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The business had revenue of $100.19 million for the quarter, compared to analysts' expectations of $91.34 million. Hercules Capital had a net margin of 31.73% and a return on equity of 13.87%. During the same quarter in the previous year, the firm posted $0.35 earnings per share.

A number of other equities analysts have also issued reports on the stock. JMP Securities reiterated a "market outperform" rating and set a $18.00 target price on shares of Hercules Capital in a research report on Monday, March 13th. Keefe, Bruyette & Woods downgraded shares of Hercules Capital from a "market perform" rating to an "underperform" rating and dropped their price target for the stock from $14.50 to $10.50 in a research note on Monday, March 13th. StockNews.com started coverage on shares of Hercules Capital in a research note on Thursday, March 16th. They set a "hold" rating for the company. Royal Bank of Canada boosted their price target on shares of Hercules Capital from $16.00 to $17.00 and gave the stock an "outperform" rating in a research note on Friday, February 17th. Finally, Piper Sandler raised shares of Hercules Capital from a "neutral" rating to an "overweight" rating and set a $16.00 price target for the company in a research note on Thursday, April 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Hercules Capital has an average rating of "Hold" and a consensus price target of $15.14.

Hercules Capital Price Performance

NYSE:HTGC opened at $12.99 on Monday. The firm has a market cap of $1.85 billion, a PE ratio of 17.09 and a beta of 1.41. Hercules Capital has a 12 month low of $10.94 and a 12 month high of $18.62. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 1.12. The company's 50-day moving average price is $13.61 and its two-hundred day moving average price is $13.71.

Hercules Capital Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Thursday, March 2nd were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 12.01%. This is a positive change from Hercules Capital's previous quarterly dividend of $0.36. The ex-dividend date was Wednesday, March 1st. Hercules Capital's dividend payout ratio (DPR) is currently 205.27%.

Insider Buying and Selling

In other Hercules Capital news, Director Wade Loo purchased 4,000 shares of the stock in a transaction that occurred on Friday, March 17th. The shares were acquired at an average cost of $11.95 per share, with a total value of $47,800.00. Following the completion of the transaction, the director now owns 8,059 shares in the company, valued at $96,305.05. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Hercules Capital

A number of institutional investors have recently added to or reduced their stakes in the stock. Salem Investment Counselors Inc. grew its holdings in Hercules Capital by 2,200.0% during the 3rd quarter. Salem Investment Counselors Inc. now owns 2,300 shares of the financial services provider's stock worth $27,000 after acquiring an additional 2,200 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in Hercules Capital by 206.4% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 2,488 shares of the financial services provider's stock worth $29,000 after acquiring an additional 1,676 shares during the last quarter. WFA of San Diego LLC bought a new stake in Hercules Capital during the 4th quarter worth approximately $29,000. EverSource Wealth Advisors LLC bought a new stake in Hercules Capital during the 4th quarter worth approximately $30,000. Finally, Delta Asset Management LLC TN bought a new stake in Hercules Capital during the 4th quarter worth approximately $32,000. 23.77% of the stock is currently owned by institutional investors and hedge funds.

Hercules Capital Company Profile

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Hercules is the largest non-bank lender to venture capital-backed companies at all stages of development in a broadly diversified variety of technology, life sciences, and sustainable and renewable technology industries. With over a decade of experience in venture debt, Hercules is uniquely positioned to quickly create innovative financing solutions that perfectly fit within a company's existing capital structure and map to its business objectives.