Gladstone Investment Co. (NASDAQ:GAIN) declared a monthly dividend on Thursday, October 15th, Wall Street Journal reports. Shareholders of record on Friday, November 20th will be paid a dividend of 0.07 per share by the investment management company on Monday, November 30th. This represents a $0.84 annualized dividend and a yield of 9.33%. The ex-dividend date of this dividend is Thursday, November 19th.
Gladstone Investment has a dividend payout ratio of 158.5% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research 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%.
Shares of GAIN 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 business’s 50 day moving average price is $9.20 and its two-hundred day moving average price is $9.81. The firm has a market cap of $298.85 million, a PE ratio of -22.50 and a beta of 1.36.
Gladstone Investment (NASDAQ:GAIN) last issued its earnings results on Tuesday, July 28th. The investment management company reported $0.11 earnings per share 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 firm had revenue of $10.71 million for the quarter, compared to analyst estimates of $13.66 million. As a group, equities research analysts expect that Gladstone Investment will post 0.57 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on GAIN shares. ValuEngine raised Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, July 29th. Zacks Investment Research raised Gladstone Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, September 30th. Finally, BidaskClub lowered Gladstone Investment from a “hold” rating to a “sell” rating in a research report on Saturday, October 10th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Gladstone Investment presently has an average rating of “Hold” and a consensus target price of $12.50.
Gladstone Investment Company Profile
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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