Capital Southwest Co. (NASDAQ:CSWC – Get Rating) – Investment analysts at Oppenheimer increased their Q2 2023 earnings estimates for shares of Capital Southwest in a report released on Wednesday, August 3rd. Oppenheimer analyst M. Penn now expects that the asset manager will earn $0.50 per share for the quarter, up from their prior forecast of $0.49. The consensus estimate for Capital Southwest’s current full-year earnings is $2.02 per share. Oppenheimer also issued estimates for Capital Southwest’s Q1 2024 earnings at $0.51 EPS, Q2 2024 earnings at $0.52 EPS, Q3 2024 earnings at $0.53 EPS, Q4 2024 earnings at $0.54 EPS and FY2024 earnings at $2.09 EPS.
CSWC has been the topic of several other reports. JMP Securities lowered their target price on shares of Capital Southwest from $27.00 to $25.00 and set a “market outperform” rating on the stock in a research report on Wednesday. Hovde Group reduced their price target on Capital Southwest to $22.00 in a research report on Friday, May 20th. Finally, Raymond James reduced their price target on Capital Southwest from $26.00 to $23.00 and set an “outperform” rating for the company in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $23.33.
Capital Southwest Stock Up 1.8 %
Capital Southwest (NASDAQ:CSWC – Get Rating) last released its earnings results on Monday, May 23rd. The asset manager reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. Capital Southwest had a net margin of 35.02% and a return on equity of 11.22%. The company had revenue of $21.03 million during the quarter, compared to the consensus estimate of $21.50 million. During the same quarter in the prior year, the firm earned $0.39 EPS.
Hedge Funds Weigh In On Capital Southwest
A number of institutional investors have recently made changes to their positions in CSWC. Van ECK Associates Corp increased its stake in shares of Capital Southwest by 56.4% in the first quarter. Van ECK Associates Corp now owns 592,968 shares of the asset manager’s stock worth $14,071,000 after purchasing an additional 213,942 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Capital Southwest in the first quarter worth about $3,154,000. First Republic Investment Management Inc. bought a new position in shares of Capital Southwest in the first quarter worth about $1,091,000. Mckinley Capital Management LLC Delaware increased its stake in Capital Southwest by 70.7% during the fourth quarter. Mckinley Capital Management LLC Delaware now owns 98,908 shares of the asset manager’s stock valued at $2,501,000 after acquiring an additional 40,949 shares during the period. Finally, SMH Capital Advisors Inc. bought a new position in Capital Southwest during the second quarter valued at about $316,000. 24.47% of the stock is currently owned by institutional investors.
Capital Southwest Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This is a positive change from Capital Southwest’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 9.88%. Capital Southwest’s payout ratio is presently 150.00%.
About Capital Southwest
Capital Southwest Corporation is a business development company specializing in credit and private equity and venture capital investments in middle market companies, mezzanine, later stage, mature, late venture, emerging growth, buyouts, recapitalizations and growth capital investments. It does not invest in startups, publicly traded companies, real estate developments, project finance opportunities, oil and gas exploration businesses, troubled companies, turnarounds, and companies in which significant senior management is departing.
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