Fidus Investment Reports Quarterly Earnings Surpassing Expectations

Fidus Investment (NASDAQ:FDUS) made headlines on Thursday by announcing its quarterly earnings results. The company revealed an earnings per share (EPS) of $0.61 for the quarter, which surpassed analysts' consensus prediction of $0.57 by $0.04. This performance highlights the firm's strong financial position.

The asset manager achieved a net margin of 60.09%, along with a return on equity of 12.32%. In terms of revenue, Fidus Investment reported $38.38 million for the quarter, exceeding the expected revenue of $36.43 million set by analysts. When compared to the same quarter last year, the company recorded a decrease from the $0.68 EPS reported previously.

Fidus Investment Stock Performance

In financial markets, FDUS stock saw a slight decline of $0.05 during mid-day trading on Friday, bringing the stock price to $19.45. The trading volume stood at 264,795 shares, which is higher than the typical volume of 186,120. The company has a 50-day moving average of $19.71 and a 200-day moving average of $19.74. Fidus Investment has seen a low of $18.41 and a high of $20.60 over the past year. Its market capitalization is approximately $644.96 million, with a price-to-earnings (PE) ratio of 6.95 and a beta of 1.40.

Dividend Increase Announcement

In addition to its earnings announcement, the company also declared a quarterly dividend, set to be paid on Friday, December 27th. Shareholders who are on record by Tuesday, December 17th, will receive a dividend of $0.61 per share, translating to an annualized dividend of $2.44 and a yield of 12.54%. This marks an increase from the previous quarterly dividend of $0.57. The ex-dividend date is also set for December 17th, and Fidus Investment's payout ratio is currently at 61.43%.

Analyst Forecast for Fidus Investment

Looking ahead, Keefe, Bruyette & Woods recently upgraded Fidus Investment's rating to a "hold" in a report dated August 5th. This reflects a cautious optimism from analysts regarding the company's future performance.

About Fidus Investment

Fidus Investment Corporation is recognized as a business development company. Its expertise lies in leveraged buyouts, refinancings, change-of-ownership transactions, recapitalizations, strategic acquisitions, mezzanine financing, growth capital, and various debt investments. They also engage in lower middle market investments, including subordinated loans, senior secured loans, and other complex financial instruments.

Fidus, Earnings, Dividend