Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Thursday, October 15th, Wall Street Journal reports. Shareholders of record on Friday, November 20th will be given a dividend of 0.07 per share by the investment management company on Monday, November 30th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 9.33%. The ex-dividend date of this dividend is Thursday, November 19th.
Gladstone Investment has a payout ratio of 158.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Gladstone Investment to earn $0.72 per share next year, which means the company may not be able to cover its $0.84 annual dividend with an expected future payout ratio of 116.7%.
GAIN stock opened at $9.00 on Friday. Gladstone Investment has a 52 week low of $6.43 and a 52 week high of $15.34. The company has a market capitalization of $298.85 million, a price-to-earnings ratio of -22.50 and a beta of 1.36. The firm’s 50-day moving average is $9.20 and its two-hundred day moving average is $9.81.
Gladstone Investment (NASDAQ:GAIN) last released its quarterly earnings results on Tuesday, July 28th. The investment management company reported $0.11 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.08). Gladstone Investment had a positive return on equity of 5.82% and a negative net margin of 23.93%. The company had revenue of $10.71 million for the quarter, compared to the consensus estimate of $13.66 million. As a group, sell-side analysts anticipate that Gladstone Investment will post 0.57 EPS for the current year.
A number of analysts have commented on the stock. ValuEngine upgraded shares of Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, July 29th. BidaskClub downgraded shares of Gladstone Investment from a “hold” rating to a “sell” rating in a report on Saturday, October 10th. Finally, Zacks Investment Research upgraded shares of Gladstone Investment from a “sell” rating to a “hold” rating in a report on Wednesday, September 30th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $12.50.
About Gladstone Investment
Gladstone Investment Corporation is a private equity fund specializing in lower middle market, acquisitions, mature stage, buyouts; recapitalizations; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options.
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