Zacks Research Comments on Hercules Capital, Inc.’s FY2024 Earnings (NYSE:HTGC)

Hercules Capital, Inc. (NYSE:HTGC) – Equities researchers at Zacks Research increased their FY2024 earnings estimates for Hercules Capital in a research report issued to clients and investors on Thursday, May 23rd. Zacks Research analyst R. Department now forecasts that the financial services provider will post earnings of $2.04 per share for the year, up from their prior forecast of $2.03. The consensus estimate for Hercules Capital’s current full-year earnings is $2.06 per share.

Hercules Capital (NYSE:HTGC) last posted its earnings results on Thursday, May 2nd. The financial services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.02. The business had revenue of $121.55 million during the quarter, compared to the consensus estimate of $121.86 million. Hercules Capital had a net margin of 69.98% and a return on equity of 18.35%. The firm’s revenue was up 15.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 EPS.

A number of other brokerages have also issued reports on HTGC. Keefe, Bruyette & Woods increased their price objective on shares of Hercules Capital from $18.00 to $19.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. JMP Securities boosted their price target on shares of Hercules Capital from $19.00 to $20.00 and gave the stock a “market outperform” rating in a research note on Friday, May 3rd. Piper Sandler increased their price objective on shares of Hercules Capital from $21.00 to $21.50 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Wells Fargo & Company lifted their target price on Hercules Capital from $19.50 to $20.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $18.56.

Hercules Capital Price Performance

Shares of Hercules Capital stock opened at $19.41 on Monday. Hercules Capital has a one year low of $13.84 and a one year high of $20.01. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.47 and a current ratio of 2.47. The stock has a market cap of $3.15 billion, a P/E ratio of 8.82 and a beta of 1.32. The stock’s fifty day moving average is $18.79 and its 200 day moving average is $17.58.

Institutional Trading of Hercules Capital

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Cetera Advisors LLC raised its stake in shares of Hercules Capital by 98.9% in the first quarter. Cetera Advisors LLC now owns 89,118 shares of the financial services provider’s stock valued at $1,644,000 after acquiring an additional 44,315 shares during the period. Cetera Investment Advisers raised its position in Hercules Capital by 170.7% in the 1st quarter. Cetera Investment Advisers now owns 126,789 shares of the financial services provider’s stock worth $2,339,000 after purchasing an additional 79,947 shares during the period. BigSur Wealth Management LLC lifted its stake in Hercules Capital by 147.5% in the first quarter. BigSur Wealth Management LLC now owns 29,700 shares of the financial services provider’s stock worth $548,000 after purchasing an additional 17,700 shares during the last quarter. Delphi Management Inc. MA boosted its position in shares of Hercules Capital by 6.0% during the first quarter. Delphi Management Inc. MA now owns 97,450 shares of the financial services provider’s stock valued at $1,798,000 after buying an additional 5,479 shares during the period. Finally, Tidal Investments LLC grew its stake in shares of Hercules Capital by 6.4% during the first quarter. Tidal Investments LLC now owns 63,037 shares of the financial services provider’s stock valued at $1,163,000 after buying an additional 3,768 shares during the last quarter. Hedge funds and other institutional investors own 19.69% of the company’s stock.

Hercules Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 21st. Stockholders of record on Tuesday, May 14th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 9.89%. The ex-dividend date of this dividend was Monday, May 13th. Hercules Capital’s dividend payout ratio (DPR) is 72.73%.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.