Great Elm Capital Corp (GECC) Expected to Announce Quarterly Sales of $6.96 Million

Wall Street brokerages expect Great Elm Capital Corp (NASDAQ:GECC) to report $6.96 million in sales for the current quarter, according to Zacks. Two analysts have issued 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 during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.6%. The business is expected to report its next earnings results on Monday, November 5th.

On average, analysts expect that Great Elm Capital will report full year sales of $28.65 million for the current fiscal year, with estimates ranging from $28.30 million to $29.00 million. For the next year, analysts anticipate that the firm will post sales of $27.79 million, with estimates ranging from $27.28 million to $28.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Great Elm Capital.

Great Elm Capital (NASDAQ:GECC) last issued its quarterly earnings results on Friday, August 10th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.27. Great Elm Capital had a negative net margin of 16.40% and a positive return on equity of 15.45%. The company had revenue of $7.16 million during the quarter, compared to analysts’ expectations of $6.99 million.

A number of brokerages recently issued reports on GECC. Zacks Investment Research raised shares of Great Elm Capital from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, August 15th. ValuEngine cut shares of Great Elm Capital from a “hold” rating to a “sell” rating in a research report on Saturday, June 2nd.

Shares of NASDAQ GECC opened at $9.77 on Thursday. Great Elm Capital has a 1 year low of $8.76 and a 1 year high of $10.63. The stock has a market cap of $104.61 million, a P/E ratio of 5.31 and a beta of 0.64. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.09 and a quick ratio of 0.09.

The firm also recently declared a monthly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be given a dividend of $0.083 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $1.00 dividend on an annualized basis and a yield of 10.19%. Great Elm Capital’s dividend payout ratio (DPR) is currently 65.79%.

In related news, major shareholder Mast Capital Management, Llc sold 45,448 shares of Great Elm Capital stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $9.68, for a total transaction of $439,936.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.27% of the company’s stock.

An institutional investor recently raised its position in Great Elm Capital stock. Quantum Capital Management raised its position in shares of Great Elm Capital Corp (NASDAQ:GECC) by 6.4% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 135,988 shares of the financial services provider’s stock after purchasing an additional 8,197 shares during the quarter. Quantum Capital Management owned 1.28% of Great Elm Capital worth $1,257,000 at the end of the most recent quarter. 6.71% of the stock is owned by institutional investors and hedge funds.

Great Elm Capital Company Profile

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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