Raymond James Cuts Capital Southwest (NASDAQ:CSWC) Price Target to $23.00

Capital Southwest (NASDAQ:CSWCGet Rating) had its price target reduced by Raymond James from $26.00 to $23.00 in a report released on Wednesday, Benzinga reports. Raymond James currently has an outperform rating on the asset manager’s stock.

Several other research firms have also commented on CSWC. JMP Securities reduced their price target on shares of Capital Southwest from $27.00 to $25.00 and set a market outperform rating for the company in a report on Wednesday. Hovde Group reduced their price target on shares of Capital Southwest to $22.00 in a report on Friday, May 20th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Capital Southwest has a consensus rating of Hold and a consensus target price of $23.33.

Capital Southwest Trading Up 1.8 %

Shares of CSWC opened at $20.25 on Wednesday. Capital Southwest has a 1-year low of $17.79 and a 1-year high of $28.41. The company has a 50-day moving average of $19.65 and a 200 day moving average of $22.38. The firm has a market capitalization of $557.48 million, a price-to-earnings ratio of 15.82 and a beta of 1.14. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.13 and a quick ratio of 0.10.

Capital Southwest (NASDAQ:CSWCGet Rating) last announced its quarterly earnings data on Monday, May 23rd. The asset manager reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Capital Southwest had a net margin of 35.02% and a return on equity of 11.22%. The company had revenue of $21.03 million during the quarter, compared to analyst estimates of $21.50 million. During the same quarter last year, the business posted $0.39 EPS. On average, research analysts expect that Capital Southwest will post 2.05 EPS for the current year.

Capital Southwest Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be issued a $0.50 dividend. The ex-dividend date is Wednesday, September 14th. This represents a $2.00 annualized dividend and a dividend yield of 9.88%. This is a positive change from Capital Southwest’s previous quarterly dividend of $0.48. Capital Southwest’s payout ratio is currently 150.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of CSWC. Van ECK Associates Corp grew its position in shares of Capital Southwest by 56.4% in the 1st quarter. Van ECK Associates Corp now owns 592,968 shares of the asset manager’s stock worth $14,071,000 after buying an additional 213,942 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Capital Southwest in the 1st quarter worth approximately $3,154,000. First Republic Investment Management Inc. purchased a new position in shares of Capital Southwest in the 1st quarter worth approximately $1,091,000. Mckinley Capital Management LLC Delaware grew its position in shares of Capital Southwest by 70.7% in the 4th quarter. Mckinley Capital Management LLC Delaware now owns 98,908 shares of the asset manager’s stock worth $2,501,000 after buying an additional 40,949 shares during the last quarter. Finally, SMH Capital Advisors Inc. purchased a new position in shares of Capital Southwest in the 2nd quarter worth approximately $316,000. Hedge funds and other institutional investors own 24.47% of the company’s stock.

About Capital Southwest

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Capital Southwest Corporation is a business development company specializing in credit and private equity and venture capital investments in middle market companies, mezzanine, later stage, mature, late venture, emerging growth, buyouts, recapitalizations and growth capital investments. It does not invest in startups, publicly traded companies, real estate developments, project finance opportunities, oil and gas exploration businesses, troubled companies, turnarounds, and companies in which significant senior management is departing.

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