.jpg "Alcentra Capital (NASDAQ: ABDC)")
Companies in the Financial sector have received a lot of coverage today as analysts weigh in on Alcentra Capital (NASDAQ: ABDC) and Ellington Financial (NYSE: EFC).
Alcentra Capital (NASDAQ: ABDC)
Oppenheimer analyst Chris Kotowski maintained a Hold rating on Alcentra Capital (NASDAQ: ABDC) today. The company’s shares opened today at $6.42, close to its 52-week low of $5.90.
Kotowski observed:
“ABDC announced last quarter that they were rather radically changing their focus from lower middle market, predominantly non-sponsored lender to focus on senior, broadly syndicated credits. Rightfully, the company permanently lowered its base management fee from 1.75% to 1.50%, with an additional 25bps reduction for the next 12 months. Additionally, management turnover continued with the announcement of a new chairman. We think this is all good, but we also believe the current valuation at 57% of book value reflects a healthy degree of skepticism. Large shifts in strategy and management aren’t always easy to execute, and clearly the market has a reasonable concern about whether or not the new strategy will even work in the company’s current form and at its current scale.”
According to TipRanks.com, Kotowski is a 5-star analyst with an average return of 10.0% and a 65.6% success rate. Kotowski covers the Financial sector, focusing on stocks such as Eagle Point Credit Company Inc, Great Elm Capital Corporation, and Apollo Global Management LLC.
Alcentra Capital has an analyst consensus of Hold, with a price target consensus of $7.
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Ellington Financial (NYSE: EFC)
Maxim Group analyst Michael Diana reiterated a Buy rating on Ellington Financial (NYSE: EFC) today and set a price target of $19.50. The company’s shares opened today at $15.46.
Diana commented:
“EFC reported 1Q18 EPS of $0.67, versus its $0.41 dividend. Combined with buybacks of 3% of outstanding shares in 1Q18, book value was up 2.1%. Buybacks in 2Q18 have contributed to a further book value increase to $19.44 (net of dividend)..”
According to TipRanks.com, Diana is a 5-star analyst with an average return of 6.9% and a 63.5% success rate. Diana covers the Financial sector, focusing on stocks such as Manhattan Bridge Capital Inc, Arlington Asset Investment, and Westamerica Bancorporation.
Ellington Financial has an analyst consensus of Moderate Buy, with a price target consensus of $17.17.
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