Profile
Sector:
Financial ServicesIndustry:
Asset ManagementCountry:
United StatesIPO:
08 November 2012Website:
http://www.ofscapital.comNext earnings report:
01 November 2024Last dividends:
20 September 2024Next dividends:
N/APrice
after hours | Thu, 03 Oct 2024 20:43:43 GMTAnalysts recommendations
Institutional Ownership
Similar companies
OFS Latest News
CHICAGO--(BUSINESS WIRE)--OFS Credit Company, Inc. (the “Company”) (Nasdaq: OCCI, OCCIN, OCCIO) today announced the pricing of an underwritten public offering of 1,040,000 shares of 7.875% Series F Term Preferred Stock due 2029 (the “Preferred Stock”) at a public offering price of $25.00 per share, raising $26.0 million in gross proceeds. In addition, the Company has granted the underwriters a 30-day option to purchase up to an additional 156,000 shares of Preferred Stock on the same terms and.
I believe OFS Capital's 17% dividend yield is unsustainable due to declining portfolio value, deteriorating earnings, high accruals, and poor cash position, warranting a hold rating. The company's dividends exceed net investment income, and future earnings forecasts suggest significant declines, making a dividend cut likely. OFS Capital's high leverage ratio and cautious investment strategy limit growth potential, further impacting its ability to sustain dividends and share price.
OFS Capital (NASDAQ:OFS ) Q2 2024 Earnings Conference Call August 2, 2024 10:00 AM ET Company Participants Steve Altebrando - VP, Capital Markets Bilal Rashid - Chairman & CEO Jeff Cerny - CFO & Treasurer Operator Good day, and welcome to the OFS Capital Corporation Second Quarter 2024 Earnings Conference Call. All participants will be in listen-only mode.
OFS Capital Corp offers a high dividend yield of 13.7% with a diverse portfolio focused on senior secured loans in various industries. The company's financials show continued growth, with net investment income per share covering the dividend comfortably at 123.5%. Despite the high yield, OFS has underperformed its peers in total return and lacks dividend growth. OFS has failed to provide any meaningful growth or supplemental dividends the way peers have.
CHICAGO--(BUSINESS WIRE)--OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit”, the “Company”, “we”, “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced the following net asset value (“NAV”) estimate as of May 31, 2024. Management's unaudited estimate of the range of our NAV per share of our common stock as of May 31, 2024 is between $7.35 and $7.45. This estimate is not a comprehensive statement of.
OFS Capital (NASDAQ: OFS) First Quarter 2024 Earnings Conference Call will take place on May 3, 2024 at 10:00 AM ET. Present at the call will be Steve Altebrando, Vice President of Capital Markets, Bilal Rashid, Chairman & CEO, and Jeff Cerny, CFO & Treasurer. Conference call participants include Mitchel Penn from Oppenheimer. The call will be in listen-only mode.
OFS Capital and Eagle Point Credit are very similar closed-end funds holding assets of the same type. Both offer safe-term preferred stocks protected by a 50% leverage limit. OFS Capital term preferred stock, symbol OCCIN, currently offers a 9.23% yield to maturity (annualized return), clearly the best in the sector. On the other hand, Eagle Point Credit's new term preferred, symbol ECCF, has a YTM of only 7.52%, worst in the sector, trades over par, and has the worst taxation.
SWDBY, PUBGY and OFS made it to the Zacks Rank #1 (Strong Buy) value stocks list on September 5, 2023.
PCAR, PUBGY and OFS made it to the Zacks Rank #1 (Strong Buy) income stocks list on September 5, 2023.
OFS Capital (OFS) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.
What type of business is OFS Capital?
OFS Capital Corporation is a business development company specializing in direct and fund investments as well as add-on acquisitions. It provides flexible capital solutions primarily through debt capital and to a lesser extent, minority equity investments serving the needs of U.S.-based middle-market companies across a broad array of industries. It does not invest in operational turnarounds or start-up businesses. For direct, it specializes in debt and structured equity investments, recapitalizations and refinancing, management and leveraged buyouts, acquisition financings, ownership transition, shareholder liquidity events, growth capital, independent sponsor transactions, ESOPs, and minority investments in the lower middle market companies. It invests in the aerospace and defense, business services, consumer products and services, construction & building, durable goods, capital equipment, automotive, food and beverage, healthcare & pharmaceutical, specialty chemicals, transportation cargo and logistics, value added distribution, franchising, and industrial and niche manufacturing sectors. The firm invests in companies based in United States. It seeks to invest between $3 million and $35 million, revenues between $15 million and $300 million, annual EBITDA between $5 million and $50 million, and Enterprise value between $10 million and $500 million. The firm seeks to invest in companies with debt investment values between $5 million and $25 million. The fund uses senior secured, unitranche loans, first-lien, second lien, subordinated/ mezzanine loans, warrants, and preferred equity securities and common equity securities. It prefers to take a minority as well as majority stake in the investments made. It also co-invests with its partners for additional capital.
What sector is OFS Capital in?
OFS Capital is in the Financial Services sector
What industry is OFS Capital in?
OFS Capital is in the Asset Management industry
What country is OFS Capital from?
OFS Capital is headquartered in United States
When did OFS Capital go public?
OFS Capital initial public offering (IPO) was on 08 November 2012
What is OFS Capital website?
https://www.ofscapital.com
Is OFS Capital in the S&P 500?
No, OFS Capital is not included in the S&P 500 index
Is OFS Capital in the NASDAQ 100?
No, OFS Capital is not included in the NASDAQ 100 index
Is OFS Capital in the Dow Jones?
No, OFS Capital is not included in the Dow Jones index
When was OFS Capital the previous earnings report?
No data
When does OFS Capital earnings report?
The next expected earnings date for OFS Capital is 01 November 2024