Zacks: Brokerages Expect AFC Gamma, Inc. (NASDAQ:AFCG) to Announce $0.60 EPS

Wall Street analysts expect AFC Gamma, Inc. (NASDAQ:AFCGGet Rating) to announce earnings per share (EPS) of $0.60 for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for AFC Gamma’s earnings. AFC Gamma reported earnings per share of $0.43 during the same quarter last year, which indicates a positive year-over-year growth rate of 39.5%. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that AFC Gamma will report full-year earnings of $2.61 per share for the current fiscal year. For the next fiscal year, analysts anticipate that the company will post earnings of $3.12 per share. Zacks’ earnings per share averages are an average based on a survey of research analysts that that provide coverage for AFC Gamma.

AFC Gamma (NASDAQ:AFCGGet Rating) last announced its earnings results on Tuesday, May 10th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. AFC Gamma had a return on equity of 11.59% and a net margin of 57.13%. During the same period in the previous year, the business posted $0.45 earnings per share.

A number of equities research analysts recently issued reports on the company. Compass Point decreased their price target on AFC Gamma from $20.00 to $17.50 in a research note on Monday, May 16th. Zacks Investment Research lowered AFC Gamma from a “hold” rating to a “sell” rating in a research note on Thursday, May 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $24.50.

In other news, CEO Leonard M. Tannenbaum bought 21,183 shares of the firm’s stock in a transaction on Wednesday, May 11th. The stock was acquired at an average cost of $15.80 per share, with a total value of $334,691.40. Following the transaction, the chief executive officer now directly owns 3,363,683 shares in the company, valued at approximately $53,146,191.40. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brett Kaufman bought 3,000 shares of the firm’s stock in a transaction on Wednesday, May 11th. The shares were purchased at an average cost of $16.70 per share, with a total value of $50,100.00. Following the completion of the transaction, the chief financial officer now owns 6,000 shares in the company, valued at $100,200. The disclosure for this purchase can be found here. Insiders have purchased a total of 25,183 shares of company stock valued at $401,671 over the last three months. 28.00% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its holdings in AFC Gamma by 58.4% in the third quarter. BlackRock Inc. now owns 627,447 shares of the company’s stock worth $13,540,000 after purchasing an additional 231,260 shares in the last quarter. AdvisorShares Investments LLC bought a new position in shares of AFC Gamma during the 4th quarter worth approximately $5,183,000. Vanguard Group Inc. raised its stake in shares of AFC Gamma by 32.5% during the 1st quarter. Vanguard Group Inc. now owns 776,261 shares of the company’s stock worth $14,842,000 after acquiring an additional 190,609 shares in the last quarter. Merlin Capital LLC purchased a new stake in AFC Gamma during the fourth quarter valued at approximately $3,306,000. Finally, Federated Hermes Inc. boosted its stake in AFC Gamma by 12.5% in the first quarter. Federated Hermes Inc. now owns 900,000 shares of the company’s stock valued at $17,208,000 after acquiring an additional 100,000 shares in the last quarter. 37.72% of the stock is owned by institutional investors and hedge funds.

Shares of AFC Gamma stock opened at $17.92 on Wednesday. AFC Gamma has a one year low of $14.90 and a one year high of $25.50. The stock has a market cap of $353.74 million, a price-to-earnings ratio of 10.18 and a beta of 1.28. The stock has a 50 day moving average price of $17.65 and a 200-day moving average price of $19.60.

The firm also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors 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 12.28%. The ex-dividend date of this dividend was Wednesday, March 30th. AFC Gamma’s dividend payout ratio (DPR) is currently 125.00%.

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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