In a report released today, Timothy P. Hayes from B.Riley FBR reiterated a Buy rating on WhiteHorse (WHF), with a price target of $14.50. The company’s shares closed yesterday at $14.41.
Hayes observed:
“We reiterate our Buy rating and $14.50 price target on shares of WhiteHorse Finance, Inc. (WHF) following 1Q19 results that were largely in line with our expectations. WHF reported core NII of $0.36, just below our $0.37 estimate (the delta was a rounding error) and covering the $0.355/ share quarterly dividend. In light of the seasonality and volatility experienced in 1Q19, most of the proceeds from the Aretec sale remain undeployed. Reflecting excess cash not currently earning any interest and modest leverage of 0.60x, we do not believe that net investment income is indicative of the platform’s true earnings power.”
According to TipRanks.com, Hayes is a 4-star analyst with an average return of 8.9% and a 78.9% success rate. Hayes covers the Financial sector, focusing on stocks such as Saratoga Investment Corp, Starwood Property Trust, and Cherry Hill Mortgage.
Currently, the analyst consensus on WhiteHorse is a Moderate Buy with an average price target of $15.25, which is a 5.8% upside from current levels. In a report released yesterday, Oppenheimer also reiterated a Buy rating on the stock with a $16 price target.
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Based on WhiteHorse’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $4.93 million. In comparison, last year the company had a net profit of $13.85 million.
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WhiteHorse Finance, Inc is a managed, non-diversified, closed-end management investment company which operates as a direct lender targeting debt investments in privately held, lower middle market companies located in the United States.
