Fifth Street Finance Corp. (NASDAQ:FSC) issued its quarterly earnings results on Wednesday. The credit services provider reported $0.14 EPS for the quarter, beating the consensus estimate of $0.13 by $0.01, Bloomberg Earnings reports. The company had revenue of $44.92 million for the quarter, compared to the consensus estimate of $43.35 million. Fifth Street Finance Corp. had a negative net margin of 37.21% and a positive return on equity of 8.17%.
Shares of Fifth Street Finance Corp. (NASDAQ:FSC) traded down 0.19% during trading on Friday, reaching $5.29. 257,288 shares of the company’s stock were exchanged. The company has a 50 day moving average of $5.00 and a 200 day moving average of $4.64. Fifth Street Finance Corp. has a 12-month low of $3.90 and a 12-month high of $6.32.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be paid a $0.125 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.50 dividend on an annualized basis and a yield of 9.43%. Fifth Street Finance Corp.’s dividend payout ratio is currently -15.38%.
Several equities analysts recently commented on FSC shares. National Securities upgraded shares of Fifth Street Finance Corp. from a “neutral” rating to a “buy” rating and upped their price target for the company from $4.00 to $7.00 in a report on Tuesday, July 18th. Deutsche Bank AG upgraded shares of Fifth Street Finance Corp. from a “hold” rating to a “buy” rating and upped their price target for the company from $4.75 to $6.00 in a report on Tuesday, July 18th. TheStreet downgraded shares of Fifth Street Finance Corp. from a “c-” rating to a “d+” rating in a report on Wednesday, June 14th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $4.75 price target on shares of Fifth Street Finance Corp. in a report on Friday, June 30th. Finally, Zacks Investment Research upgraded shares of Fifth Street Finance Corp. from a “sell” rating to a “hold” rating in a report on Monday, April 17th. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $5.68.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in Fifth Street Finance Corp. by 6.9% in the second quarter. Van ECK Associates Corp now owns 990,627 shares of the credit services provider’s stock valued at $4,814,000 after buying an additional 63,610 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in Fifth Street Finance Corp. by 58.6% in the second quarter. Hotchkis & Wiley Capital Management LLC now owns 326,423 shares of the credit services provider’s stock valued at $1,586,000 after buying an additional 120,623 shares during the period. Stevens Capital Management LP purchased a new position in Fifth Street Finance Corp. during the second quarter valued at approximately $152,000. Nationwide Fund Advisors purchased a new position in Fifth Street Finance Corp. during the second quarter valued at approximately $171,000. Finally, Ameriprise Financial Inc. boosted its position in Fifth Street Finance Corp. by 13.6% in the second quarter. Ameriprise Financial Inc. now owns 46,075 shares of the credit services provider’s stock valued at $224,000 after buying an additional 5,528 shares during the period. Institutional investors own 29.63% of the company’s stock.
Fifth Street Finance Corp. Company Profile
Fifth Street Finance Corp. is a specialty finance company. The Company is a closed-end, non-diversified management investment company. The Company acts as a business development company (BDC). The Company’s investment objective is to maximize its portfolio’s total return by generating current income from its debt investments, and capital appreciation from its equity investments.
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