Zacks: Analysts Expect AFC Gamma, Inc. (NASDAQ:AFCG) Will Post Quarterly Sales of $19.49 Million

Brokerages expect AFC Gamma, Inc. (NASDAQ:AFCGGet Rating) to announce sales of $19.49 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for AFC Gamma’s earnings. The highest sales estimate is $19.68 million and the lowest is $19.30 million. AFC Gamma reported sales of $8.75 million in the same quarter last year, which indicates a positive year over year growth rate of 122.7%. The firm is expected to issue its next earnings report on Monday, January 1st.

On average, 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 forecast that the company will report sales of $128.85 million, with estimates ranging from $93.86 million to $146.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow AFC Gamma.

AFC Gamma (NASDAQ:AFCGGet Rating) last posted its quarterly earnings results on Tuesday, May 10th. The company reported $0.62 EPS 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 quarter last year, the company posted $0.45 earnings per share.

Separately, Zacks Investment Research lowered shares of AFC Gamma from a “hold” rating to a “sell” rating in a report on Thursday. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, AFC Gamma currently has an average rating of “Buy” and a consensus target price of $26.50.

NASDAQ:AFCG opened at $17.04 on Friday. The company has a fifty day moving average of $18.18 and a 200 day moving average of $20.24. AFC Gamma has a 52 week low of $14.90 and a 52 week high of $25.50. 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 firm has a market capitalization of $336.37 million, a P/E ratio of 9.68 and a beta of 1.28.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were issued a $0.55 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This is a positive change from AFC Gamma’s previous quarterly dividend of $0.50. This represents a $2.20 annualized dividend and a yield of 12.91%. AFC Gamma’s dividend payout ratio is 125.00%.

A number of hedge funds and other institutional investors have recently modified their holdings of AFCG. Royal Bank of Canada increased its stake in shares of AFC Gamma by 170.4% in the 3rd quarter. Royal Bank of Canada now owns 1,344 shares of the company’s stock worth $29,000 after acquiring an additional 847 shares in the last quarter. Tcwp LLC bought a new position in shares of AFC Gamma in the 1st quarter worth about $32,000. Morgan Stanley bought a new position in shares of AFC Gamma in the 1st quarter worth about $48,000. Strs Ohio increased its stake in shares of AFC Gamma by 70.6% in the 4th quarter. Strs Ohio now owns 2,900 shares of the company’s stock worth $66,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of AFC Gamma in the 2nd quarter worth about $85,000. Institutional investors and hedge funds own 37.72% of the company’s stock.

AFC Gamma Company Profile (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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Earnings History and Estimates for AFC Gamma (NASDAQ:AFCG)

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