Oppenheimer Comments on First Eagle Alternative Capital BDC, Inc.’s FY2023 Earnings (NASDAQ:FCRD)

First Eagle Alternative Capital BDC, Inc. (NASDAQ:FCRD – Get Rating) – Investment analysts at Oppenheimer raised their FY2023 earnings per share (EPS) estimates for First Eagle Alternative Capital BDC in a research note issued to investors on Wednesday, March 8th. Oppenheimer analyst M. Penn now forecasts that the company will post earnings of $0.48 per share for the year, up from their previous forecast of $0.47. The consensus estimate for First Eagle Alternative Capital BDC’s current full-year earnings is $0.43 per share.

First Eagle Alternative Capital BDC Stock Down 3.6 %

Shares of NASDAQ:FCRD opened at $4.54 on Thursday. The business has a 50 day simple moving average of $4.58 and a two-hundred day simple moving average of $4.09. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.15 and a quick ratio of 0.15. First Eagle Alternative Capital BDC has a 1 year low of $2.74 and a 1 year high of $4.91. The firm has a market capitalization of $135.85 million, a PE ratio of -4.83 and a beta of 1.44.

First Eagle Alternative Capital BDC Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Wednesday, March 8th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 6.17%. The ex-dividend date of this dividend is Wednesday, March 8th. First Eagle Alternative Capital BDC’s dividend payout ratio is presently -46.81%.

Institutional Trading of First Eagle Alternative Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of FCRD. Legal & General Group Plc raised its stake in First Eagle Alternative Capital BDC by 15.7% in the fourth quarter. Legal & General Group Plc now owns 213,563 shares of the company’s stock worth $906,000 after buying an additional 28,971 shares in the last quarter. Millennium Management LLC grew its holdings in shares of First Eagle Alternative Capital BDC by 596.7% during the fourth quarter. Millennium Management LLC now owns 127,107 shares of the company’s stock valued at $541,000 after buying an additional 108,864 shares during the last quarter. Almitas Capital LLC grew its holdings in shares of First Eagle Alternative Capital BDC by 49.8% during the fourth quarter. Almitas Capital LLC now owns 355,232 shares of the company’s stock valued at $1,513,000 after buying an additional 118,133 shares during the last quarter. Susquehanna International Group LLP purchased a new stake in shares of First Eagle Alternative Capital BDC during the fourth quarter valued at $83,000. Finally, Putnam Investments LLC purchased a new stake in First Eagle Alternative Capital BDC in the fourth quarter valued at $99,000. Institutional investors own 39.17% of the company’s stock.

About First Eagle Alternative Capital BDC

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First Eagle Alternative Capital BDC, Inc is a traded fund. Its objective is to generate both current income and capital appreciation, through investments in privately negotiated debt and equity securities of lower middle market companies. The company was founded on May 26, 2009 and is headquartered in Boston, MA.