Gladstone Investment Co. (NASDAQ:GAIN) announced a monthly dividend on Friday, July 17th, Wall Street Journal reports. Stockholders of record on Wednesday, September 23rd will be given a dividend of 0.07 per share by the investment management company on Wednesday, September 30th. This represents a $0.84 annualized dividend and a dividend yield of 8.44%. The ex-dividend date of this dividend is Tuesday, September 22nd.
Gladstone Investment has a payout ratio of 116.7% indicating that 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 $0.83 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 101.2%.
Shares of Gladstone Investment stock traded up $0.02 on Friday, reaching $9.95. 157,033 shares of the stock were exchanged, compared to its average volume of 268,734. The firm has a market capitalization of $331.57 million, a PE ratio of -45.68 and a beta of 1.48. Gladstone Investment has a 1-year low of $6.43 and a 1-year high of $15.34. The business has a fifty day moving average price of $10.52 and a two-hundred day moving average price of $11.11.
Gladstone Investment (NASDAQ:GAIN) last announced its quarterly earnings data on Tuesday, May 12th. The investment management company reported $0.19 earnings per share for the quarter, missing the Zacks' consensus estimate of $0.21 by ($0.02). Gladstone Investment had a negative net margin of 11.68% and a positive return on equity of 7.03%. The business had revenue of $11.98 million during the quarter, compared to analysts' expectations of $14.44 million. On average, sell-side analysts anticipate that Gladstone Investment will post 0.77 earnings per share for the current fiscal year.
Several research firms have commented on GAIN. ValuEngine cut shares of Gladstone Investment from a "hold" rating to a "sell" rating in a research note on Friday, May 8th. BidaskClub cut shares of Gladstone Investment from a "hold" rating to a "sell" rating in a research note on Thursday, July 9th. TheStreet cut shares of Gladstone Investment from a "b-" rating to a "c+" rating in a research note on Monday, March 30th. Finally, Zacks Investment Research raised shares of Gladstone Investment from a "sell" rating to a "hold" rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. The company currently 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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