OFS Credit (OCCI) Expected to Announce Quarterly Earnings on Friday

Key Points

• OFS Credit is expected to report quarterly results before market open on Friday, September 11. Analysts forecast earnings of $0.23 per share and revenue of approximately $9.42 million, compared with prior-quarter EPS of $0.19 and revenue of $9.20 million.
• The company declared a monthly dividend of $0.05 per share, payable October 30 to shareholders of record on October 15, implying an annualized yield of about 22.8%.
• OCCI shares opened at $2.63, versus a 12-month range of $2.15 to $6.14, while institutional investors and hedge funds own 23.77% of the stock. Wall Street Zen recently upgraded the shares from “sell” to “hold.”

OFS Credit (NASDAQ:OCCI - Get Free Report) is expected to post its results before the market opens on Friday, September 11th. Analysts expect OFS Credit to announce earnings of $0.23 per share and revenue of $9.4170 million for the quarter.

OFS Credit (NASDAQ:OCCI - Get Free Report) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $0.19 EPS for the quarter. The company had revenue of $9.20 million for the quarter.

OFS Credit Stock Performance

NASDAQ OCCI opened at $2.63 on Friday. OFS Credit has a twelve month low of $2.15 and a twelve month high of $6.14. The stock has a market cap of $77.24 million, a PE ratio of -2.16 and a beta of 0.72. The firm has a 50-day simple moving average of $2.52 and a 200 day simple moving average of $2.87.

OFS Credit Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, October 30th. Shareholders of record on Thursday, October 15th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a c) annualized dividend and a yield of 22.8%. OFS Credit's dividend payout ratio is -81.15%.

Hedge Funds Weigh In On OFS Credit

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in shares of OFS Credit during the 2nd quarter valued at about $26,000. StoneX Group Inc. acquired a new position in OFS Credit in the fourth quarter worth about $55,000. Kestra Private Wealth Services LLC acquired a new position in OFS Credit in the third quarter worth about $56,000. Virtu Financial LLC bought a new position in OFS Credit during the third quarter worth about $58,000. Finally, One Capital Management LLC bought a new position in OFS Credit during the third quarter worth about $58,000. Institutional investors and hedge funds own 23.77% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded OFS Credit from a "sell" rating to a "hold" rating in a research report on Sunday, June 21st.

About OFS Credit

OFS Credit Company, Inc NASDAQ: OCCI is a closed-end, externally managed business development company that primarily invests in senior secured loans to U.S. middle-market companies. As a registered investment company under the Investment Company Act of 1940, OFS Credit seeks to generate current income and capital appreciation by providing first-lien and second-lien debt financing to privately held and sponsor-backed businesses. The company targets borrowers with stable cash flows and defensible market positions across diverse industries, including business services, healthcare, manufacturing and technology.

The company's investment portfolio is weighted toward floating-rate loan instruments and subordinated debt, complemented by selective equity and equity-related securities.

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