Wall Street analysts predict that AFC Gamma, Inc. (NASDAQ:AFCG – Get Rating) will report $19.49 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for AFC Gamma’s earnings, with the highest sales estimate coming in at $19.68 million and the lowest estimate coming in at $19.30 million. AFC Gamma posted sales of $8.75 million during the same quarter last year, which suggests a positive year over year growth rate of 122.7%. The firm is scheduled to announce its next quarterly earnings report on Monday, January 1st.
According to Zacks, analysts expect that AFC Gamma will report full year sales of $84.60 million for the current financial year, with estimates ranging from $75.30 million to $89.80 million. For the next year, analysts expect that the company will post sales of $128.85 million, with estimates ranging from $93.86 million to $146.90 million. Zacks’ sales calculations are an average based on a survey of research firms that cover AFC Gamma.
AFC Gamma (NASDAQ:AFCG – Get Rating) last posted its earnings results on Tuesday, May 10th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.01. AFC Gamma had a net margin of 57.13% and a return on equity of 12.28%. During the same period last year, the firm earned $0.45 earnings per share.
NASDAQ AFCG opened at $17.04 on Friday. The company has a quick ratio of 4.30, a current ratio of 4.30 and a debt-to-equity ratio of 0.27. The company has a fifty day moving average of $18.18 and a two-hundred day moving average of $20.24. The firm has a market capitalization of $336.37 million, a price-to-earnings ratio of 9.68 and a beta of 1.28. AFC Gamma has a 52 week low of $14.90 and a 52 week high of $25.50.
The business also recently announced a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were paid a dividend of $0.55 per share. This is a positive change from AFC Gamma’s previous quarterly dividend of $0.50. This represents a $2.20 dividend on an annualized basis and a dividend yield of 12.91%. The ex-dividend date was Wednesday, March 30th. AFC Gamma’s payout ratio is currently 125.00%.
Several institutional investors and hedge funds have recently modified their holdings of AFCG. Citigroup Inc. raised its holdings in shares of AFC Gamma by 291,391.9% in the third quarter. Citigroup Inc. now owns 1,002,732 shares of the company’s stock valued at $21,639,000 after acquiring an additional 1,002,388 shares in the last quarter. BlackRock Inc. raised its holdings in shares of AFC Gamma by 4.5% in the first quarter. BlackRock Inc. now owns 809,292 shares of the company’s stock valued at $15,473,000 after acquiring an additional 34,958 shares in the last quarter. Wasatch Advisors Inc. raised its holdings in AFC Gamma by 7.8% in the fourth quarter. Wasatch Advisors Inc. now owns 525,420 shares of the company’s stock worth $11,959,000 after purchasing an additional 37,894 shares in the last quarter. HighTower Advisors LLC raised its holdings in AFC Gamma by 24.9% in the first quarter. HighTower Advisors LLC now owns 390,451 shares of the company’s stock worth $7,465,000 after purchasing an additional 77,931 shares in the last quarter. Finally, AdvisorShares Investments LLC bought a new position in AFC Gamma in the fourth quarter worth about $5,183,000. 37.72% of the stock is owned by hedge funds and other institutional investors.
About AFC Gamma (Get Rating)
AFC Gamma, Inc originates, structures, underwrites, and invests in senior secured loans, and other types of loans and debt securities for established companies operating in the cannabis industry in states that have legalized medicinal and/or adult use cannabis. It primarily originates loans structured as senior loans secured by real estate, equipment, and licenses and/or other assets of the loan parties to the extent permitted by applicable laws and the regulations governing such loan parties.
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