Hercules Capital (NYSE:HTGC) Releases Quarterly Earnings Results, Meets Estimates

Hercules Capital (NYSE:HTGC) posted its quarterly earnings results on Thursday. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.49, Zacks reports. Hercules Capital had a return on equity of 17.88% and a net margin of 65.07%. The business had revenue of $121.78 million for the quarter, compared to analyst estimates of $124.09 million.

Hercules Capital Stock Performance

NYSE HTGC traded up $0.21 on Friday, hitting $21.26. 1,933,511 shares of the company traded hands, compared to its average volume of 755,522. The company has a market capitalization of $3.45 billion, a price-to-earnings ratio of 10.53 and a beta of 1.35. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average price is $20.24 and its 200-day moving average price is $19.62. Hercules Capital has a 52-week low of $16.95 and a 52-week high of $21.78.

Hercules Capital Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Wednesday, February 26th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 8.84%. The ex-dividend date is Wednesday, February 26th. Hercules Capital’s payout ratio is currently 79.21%.

Analysts Set New Price Targets

A number of research firms have recently commented on HTGC. Keefe, Bruyette & Woods upgraded Hercules Capital from a “market perform” rating to an “outperform” rating and raised their target price for the company from $19.50 to $21.50 in a research note on Thursday, December 12th. JMP Securities reiterated a “market outperform” rating and set a $22.00 price objective on shares of Hercules Capital in a research note on Friday. Finally, Wells Fargo & Company lifted their target price on Hercules Capital from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.