Hercules Capital Q2 investment income rises to record high
HTGC•Outlook
The company did not provide specific guidance for the current quarter or full year.
Analyst coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell".
The average consensus recommendation for the investment management & fund operators peer group is "hold."
Wall Street's median 12-month price target for Hercules Capital Inc is $19.25, about 20.5% above its July 29 closing price of $15.97.
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago.
Result drivers and key details
Higher commitments and fundings - Hercules Capital said record new debt and equity commitments and increased fundings contributed to higher investment income.
Assets under management - The company reported record assets under management, up 14.4% year over year, supporting income growth.
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Net Investment Income | $92.90 mln |
Q2 investment income hits record high
US specialty finance lender Hercules Capital said its Q2 total investment income rose 8.5% year over year to a record high. Q2 net investment income increased 4.7% year over year, also reaching a record.
