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Capital Southwest Corporation - CSWC | ValueForum Member Stock Ratings

Last rating update for CSWC was made by a ValueForum member on Jul. 29 2020, 3:58 PM ET. Factoring this and past ratings, on average CSWC is rated 1.67 on a scale of Strong Buy (1.00) to Strong Sell (5.00) by 3 different member(s) of ValueForum.com. Full rating pages available to members only (click here) contain additional rating information including commentary by the 3 member(s) who entered the ratings. These ratings are posted by site users; this content is not intended to be investment advice, nor does it represent the opinion of, counsel from, or recommendations by ValueForum.com

CAPITAL SOUTHWEST CORPORATION (NASD: CSWC)
Last Trade
4:00 p.m. - 14.06
Change
 0.04 ( 0.28%)
Shares Traded
549
Day's Volume
75,027
Book Value
NA
Price/Book
NA
Beta
0.6444
Day's Range
13.75 - 14.10
Prev Close
14.10
Open
13.98
52 Wk Range
7.39 - 22.56
EPS
-1.24
PE
NA
Quarterly Div/Shr
0.41
Ex-Div
09/14/20
Yield
11.66%
Shares Out.
18.59M
Market Cap.
261.35M
  • 1 Year Stock Performance:

CAGR - Chart the growth of a $10K investment in CSWC

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Related news from
Tue, 01 Sep 2020
13:52:34 +0000
What Can We Learn About Capital Southwest's (NASDAQ:CSWC) CEO Compensation?
Bowen Diehl became the CEO of Capital Southwest Corporation (NASDAQ:CSWC) in 2015, and we think it's a good time to...
Thu, 13 Aug 2020
20:01:00 +0000
Capital Southwest Supports Align Capital Partners’ Acquisition of Electronic Transaction Consultants
DALLAS, Aug. 13, 2020 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported Align Capital Partners’ (“ACP”) recent acquisition of Electronic Transaction Consultants Corporation (“ETC” or the “Company”) from Italian parent company Atlantia SpA with a revolver, first lien term loan and equity co-investment. Capital Southwest led the financing transaction and will act as the sole administrative agent on the credit facility. Main Street Capital Corporation (NYSE: MAIN) and Principal Global Investors, LLC (an affiliate of Principal Financial Group, Nasdaq: PFG) were co-lenders on the term loan and the revolving credit facility.   "We are excited to partner with ACP and ETC. ACP brings extensive experience investing in the technology and business services sectors and we look forward to supporting ETC to invest in its technology and team to build out its Mobility-as-a-Service platform," said Douglas Kelley, Managing Director of Capital Southwest. Grant Eason, Vice President of Capital Southwest said, “ETC is a critical technology partner to a number of the largest tolling authorities in the country and is well-positioned to leverage its leading technology suite for new projects and agency relationships.”Headquartered in Richardson, TX, ETC is an industry-leading software and services provider of electronic tolling technology and smart mobility solutions. Founded in 1999, ETC serves electronic tolling agencies by providing back office and roadside services through its next-generation, modular software platform. The Company’s proprietary software utilizes artificial intelligence (“AI”) technology and big data to meet unique tolling and transportation needs at a lower cost to the customer.  About Capital SouthwestCapital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $278 million in net assets as of June 30, 2020. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.About Align Capital PartnersAlign Capital Partners is a growth-oriented private equity firm that partners with business owners and management teams to create shared success. ACP manages $775 million in committed capital with investment teams in Cleveland and Dallas. ACP brings experience and resources to help lower-middle market companies accelerate their growth, to the benefit of management, employees, and the firm’s investors. ACP makes control investments in differentiated companies within the technology, business services, specialty manufacturing / distribution, and healthcare sectors.Forward-Looking StatementsThis press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest. Forward-looking statements are statements that are not historical statements and can often be identified by words such as "will," "believe," "expect" and similar expressions and variations or negatives of these words. These statements are based on management's current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to: whether the SBA ultimately issues the SBIC license and the timing thereof; changes in the markets in which Capital Southwest invests; changes in the financial, capital, and lending markets; regulatory changes; tax treatment and general economic and business conditions; and uncertainties associated with the impact from the COVID-19 pandemic, including its impact on the global and U.S. capital markets and the global and U.S. economy, the length and duration of the COVID-19 outbreak in the United States as well as worldwide and the magnitude of the economic impact of that outbreak; the effect of the COVID-19 pandemic on our business prospects and the operational and financial performance of our portfolio companies, including our ability and their ability to achieve their respective objectives, and the effects of the disruptions caused by the COVID-19 pandemic on our ability to continue to effectively manage our business.Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest's Annual Report on Form 10-K for the year ended March 31, 2020 and subsequent filings, including the "Risk Factors" sections therein, with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.Investor Relations Contact: Michael S. Sarner, Chief Financial Officer 214-884-3829
Wed, 12 Aug 2020
20:46:00 +0000
Capital Southwest Corporation Prices Public Offering of $50.0 million of 5.375% Notes due 2024
DALLAS, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (NASDAQ: CSWC) (“Capital Southwest”) is pleased to announce that it has priced an underwritten public offering of an additional $50.0 million in aggregate principal amount of 5.375% notes due 2024 (the “Notes”). The Notes are being issued at 100% of the principal amount per Note, resulting in a yield-to-maturity of 5.373%. The Notes are a further issuance of the 5.375% notes due 2024 that Capital Southwest issued on September 27, 2019 in an aggregate principal amount of $65.0 million and on October 8, 2019 in an aggregate principal amount of $10.0 million (together, the “Existing Notes”). The Notes will be treated as a single series with the Existing Notes under the indenture and will have the same terms as the Existing Notes. The Notes will have the same CUSIP number and will be fungible and rank equally with the Existing Notes. Upon the issuance of the Notes, the outstanding aggregate principal amount of Capital Southwest’s 5.375% notes due 2024 will be $125.0 million. The offering is subject to customary closing conditions and is expected to close on August 17, 2020.Capital Southwest intends to use the net proceeds from this offering to repay outstanding indebtedness under its credit facility. However, through re-borrowings under its credit facility, Capital Southwest intends to make investments in lower middle market and upper middle market portfolio companies in accordance with its investment objective and strategies, to make investments in marketable securities and other temporary investments, and for other general corporate purposes, including payment of operating expenses. As of August 11, 2020, Capital Southwest had $197.0 million of indebtedness outstanding under its credit facility. The credit facility matures on December 21, 2023, and borrowings under the credit facility currently bear interest on a per annum basis equal to LIBOR plus 2.50%.Raymond James & Associates, Inc. is acting as the book-running manager for this offering.Investors should carefully consider, among other things, Capital Southwest’s investment objective and strategies and the risks related to Capital Southwest and the offering before investing. The pricing term sheet dated August 12, 2020, the preliminary prospectus supplement dated August 12, 2020, and the accompanying prospectus dated August 15, 2019, each of which has been filed with the Securities and Exchange Commission, contain this and other information about Capital Southwest and should be read carefully before investing. A shelf registration statement relating to these securities is on file with and has been declared effective by the Securities and Exchange Commission. The offering may be made only by means of a preliminary prospectus supplement and an accompanying prospectus, copies of which may be obtained, when available, from Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, by email: prospectus@raymondjames.com or by calling: 1-800-248-8863.The information in the pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release is not complete and may be changed. The pricing term sheet, the preliminary prospectus supplement, the accompanying prospectus and this press release do not constitute offers to sell or the solicitation of offers to buy, nor will there be any sale of the Notes referred to in this press release, in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.ABOUT CAPITAL SOUTHWESTCapital Southwest Corporation is a Dallas, Texas-based, internally managed Business Development Company, with approximately $278 million in net assets as of June 30, 2020. Capital Southwest is a middle-market lending firm focused on supporting the acquisition and growth of middle market businesses and makes investments ranging from $5 to $20 million in securities across the capital structure, including first lien, unitranche, second lien, subordinated debt, and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.FORWARD-LOOKING STATEMENTSThis press release may contain certain forward-looking statements within the meaning of the federal securities laws, including statements with regard to Capital Southwest’s Notes offering, the expected proceeds from the offering and the anticipated use of the net proceeds of the offering. These statements are often, but not always, made through the use of word or phrases such as “will,” “may,” “could,” “expect,” and similar expressions and variations or negatives of these words. These statements are based on management’s current expectations, assumptions, and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties, and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks identified from time to time in Capital Southwest’s filings with the Securities and Exchange Commission. Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest’s prospectus and applicable prospectus supplement for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.CONTACT: Michael S. Sarner, Chief Financial Officer msarner@capitalsouthwest.com 214-884-3829
Wed, 05 Aug 2020
20:01:00 +0000
Capital Southwest Supports VertexOne’s Acquisition of WaterSmart
DALLAS, Aug. 05, 2020 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest”) (Nasdaq:CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it recently supported the acquisition of WaterSmart by Vertex Business Services (“VertexOne”) with first lien financing and equity co-investment.  Capital Southwest serves as administrative agent on the credit facility. East West Bank is a first out lender in the term loan and provides a revolving credit facility. VertexOne acquired WaterSmart, a provider of SaaS customer engagement and analytics for city and county water utilities. WaterSmart currently serves approximately 150 North American water utility customers in 33 states. The acquisition of WaterSmart broadens VertexOne’s product offering allowing VertexOne to better serve smaller utility customers with less than 50,000 meters in operation.DFW Capital Partners (“DFW”) acquired VertexOne in July 2019. VertexOne provides software and managed services to electric, water, and gas utilities throughout the United States and Canada. VertexOne’s Customer Information System (“CIS”) manages account information, consumption, and billing data, providing a single point solution for tracking all customer interactions. VertexOne’s offering also includes CRM, customer engagement, meter data management, and workforce management modules designed specifically for utilities.About Capital SouthwestCapital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $278 million in net assets as of June 30, 2020. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.About DFW Capital PartnersDFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW has established a 20+ year track record of success in building leading companies. DFW is headquartered in Teaneck, New Jersey and maintains an office in Chevy Chase, Maryland. For more information visit www.dfwcapital.com.Forward-Looking StatementsThis press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest. Forward-looking statements are statements that are not historical statements and can often be identified by words such as "will," "believe," "expect" and similar expressions and variations or negatives of these words. These statements are based on management's current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to: whether the SBA ultimately issues the SBIC license and the timing thereof; changes in the markets in which Capital Southwest invests; changes in the financial, capital, and lending markets; regulatory changes; tax treatment and general economic and business conditions; and uncertainties associated with the impact from the COVID-19 pandemic, including its impact on the global and U.S. capital markets and the global and U.S. economy, the length and duration of the COVID-19 outbreak in the United States as well as worldwide and the magnitude of the economic impact of that outbreak; the effect of the COVID-19 pandemic on our business prospects and the operational and financial performance of our portfolio companies, including our ability and their ability to achieve their respective objectives, and the effects of the disruptions caused by the COVID-19 pandemic on our ability to continue to effectively manage our business.Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest's Annual Report on Form 10-K for the year ended March 31, 2020 and subsequent filings, including the "Risk Factors" sections therein, with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.Investor Relations Contact:Michael S. Sarner, Chief Financial Officer 214-884-3829
Wed, 05 Aug 2020
02:31:04 +0000
Capital Southwest (CSWC) Q1 2021 Earnings Call Transcript
Thank you for joining today's Capital Southwest first-quarter fiscal-year 2021 earnings call. Participating on today's call are Bowen Diehl, CEO; Michael Sarner, CFO; and Chris Rehberger, vice president.
Mon, 03 Aug 2020
22:25:10 +0000
Capital Southwest (CSWC) Matches Q1 Earnings Estimates
Capital Southwest (CSWC) delivered earnings and revenue surprises of 0.00% and 0.40%, respectively, for the quarter ended June 2020. Do the numbers hold clues to what lies ahead for the stock?
Mon, 03 Aug 2020
20:55:01 +0000
Capital Southwest: Q1 Earnings Insights
Shares of Capital Southwest (NASDAQ:CSWC) were unchanged in after-market trading after the company reported Q1 results.Quarterly Results Earnings per share fell 9.52% year over year to $0.38, which were in line with the estimate of $0.38.Revenue of $15,164,000 declined by 4.02% from the same period last year, which missed the estimate of $15,490,000.Guidance Earnings guidance hasn't been issued by the company for now.View more earnings on CSWCRevenue guidance hasn't been issued by the company for now.Technicals Company's 52-week high was at $22.90Company's 52-week low was at $7.39Price action over last quarter: down 7.59%Company Profile Capital Southwest Corporation is an US-based investment company that specializes in providing customized financing to middle market companies across various industries. The company's investment objective to produce attractive risk-adjusted returns by generating current income from debt investments and capital appreciation from equity and equity related investments. It focuses on providing flexible financing solutions through partnership with business owners, management teams, and financial sponsors. The company's portfolio may include senior debt, second lien and subordinated debt, preferred stock and common stock and warrants. The primary source company's revenue comprises of interest income and dividend income from investments made as well as management fees.See more from Benzinga * Earnings Scheduled For August 3, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Mon, 03 Aug 2020
20:01:00 +0000
Capital Southwest Announces Financial Results for First Fiscal Quarter Ended June 30, 2020
CSWC Reports Pre-Tax Net Investment Income of $0.40 Per ShareDALLAS, Aug. 03, 2020 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest,” “CSWC” or the “Company”) (Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, today announced its financial results for the first fiscal quarter ended June 30, 2020. First Quarter Fiscal Year 2021 Financial Highlights• Total Investment Portfolio: $587.2 million * Credit Portfolio of $487.2 million: • 90% 1st Lien Senior Secured Debt • $28.8 million in new committed credit investments • Weighted Average Yield on Debt Investments: 10.1% • No new credit investments placed on non-accrual during the quarter   - Three Upper Middle Market 1st Lien Senior Secured Debt investments currently on non-accrual with a fair value of $11.3 million, representing 1.9% of the total investment portfolio * Equity Portfolio of $43.2 million, excluding investment in I-45 Senior Loan Fund ("I-45 SLF") • $1.3 million in new committed equity co-investments * CSWC Investment in I-45 SLF of $56.8 million at fair value • I-45 SLF portfolio of $172.6 million   - Portfolio consists of 42 issuers: 96% 1st Lien Debt and 4% 2nd Lien Debt • $107 million of debt outstanding at I-45 SLF as of June 30, 2020   - I-45 SLF fund leverage of 1.51x debt to equity at fair value at quarter end * I-45 SLF paid a $1.8 million quarterly dividend to CSWC, an annualized yield of 12.5%• Pre-Tax Net Investment Income: $7.2 million, or $0.40 per weighted average diluted share• Dividends: Paid $0.41 per share Regular Dividend, $0.10 per share Supplemental Dividend * 102% LTM Pre-Tax NII Regular Dividend Coverage * Total Dividends for the quarter ended June 30, 2020 of $0.51 per share• Net Realized and Unrealized Portfolio Appreciation: $2.1 million * $4.7 million of net appreciation related to the upper middle market portfolio, including I-45 SLF * $2.6 million of net depreciation related to the lower middle market portfolio• Balance Sheet: * Cash and Cash Equivalents: $15.0 million * Total Net Assets: $277.9 million * Net Asset Value (“NAV”) per Share: $14.95In commenting on the Company's results, Bowen Diehl, President and Chief Executive Officer, stated, “This quarter we started to see some stabilization in both the Upper and Lower Middle Market portfolios.  We saw very few draws on revolver commitments to our portfolio companies, several repayments of previous revolver draws associated with the shelter in place directives, limited amendments and waivers in the portfolio and recorded net appreciation of $2.1 million this quarter. From an investment rating perspective, our portfolio experienced two upgrades and zero downgrades, as well as no new non-accruing loans recorded during the quarter. We recently announced a $0.51 per share dividend for the quarter ended September 30, 2020, which was flat from the prior quarter. We continued to be active in the capital markets, having raised $5.7 million in equity capital under our existing at-the-market program in June. We were also able to significantly broaden our sources of capital and strengthen our balance sheet over the long term, having received a 'green light' letter from the U.S. Small Business Administration.  We are hopeful to have our formal license application reviewed and approved by the end of this calendar year, which will allow us to access $175 million in cost effective debt capital to deploy in our lower middle market strategy.  This is clearly a major milestone for Capital Southwest and one that we are very proud to have been able to accomplish.”First Quarter Fiscal Year Investment ActivitiesDuring the quarter ended June 30, 2020, the Company originated investments in two new portfolio companies and five follow-on investments in existing portfolio companies, all totaling $30.0 million in capital commitments. New portfolio company investment transactions that occurred during the quarter ended June 30, 2020 are summarized as follows:Central Medical Supply LLC, $7.5 million 1st Lien Senior Secured Debt, $1.5 million Revolving Loan, $1.5 million Delayed Draw Capex Term Loan, $0.9 million Preferred Equity: Central Medical Supply Group is a provider of outsourced equipment management services for the hospice market and other healthcare providers.Coastal Television Broadcasting Holdings LLC, $8.9 million 1st Lien Senior Secured Debt, $0.5 million Revolving Loan: Coastal Television Broadcasting Company is a television broadcasting company that engages in the operating of broadcasting stations in duopoly or triopoly small- to mid-size markets, primarily in Alaska and Wyoming.First Fiscal Quarter 2021 Operating ResultsFor the quarter ended June 30, 2020, Capital Southwest reported total investment income of $15.2 million, compared to $15.0 million in the prior quarter. The increase in investment income was primarily attributable to amendment fees received from portfolio companies, partially offset by a decrease in dividend income from I-45 SLF.  For the quarter ended June 30, 2020, total operating expenses (excluding interest expense) were $3.7 million, compared to $3.5 million in the prior quarter. The increase in expenses was primarily due to an increase in the cash compensation accrual in the current quarter.For the quarter ended June 30, 2020, interest expense was $4.3 million as compared to $4.2 million in the prior quarter. The increase was due to an increase in the average debt outstanding on the Credit Facility (as defined below) offset by a drop in LIBOR.For the quarter ended June 30, 2020, total pre-tax net investment income was $7.2 million, compared to $7.4 million in the prior quarter.For the quarter ended June 30, 2020, tax expense remained flat at $0.4 million.During the quarter ended June 30, 2020, Capital Southwest recorded total net realized and unrealized gains on investments of $2.1 million, compared to total net realized and unrealized losses on investments of $31.9 million in the prior quarter. For the quarter ended June 30, 2020, this included total net realized losses on investments of $5.5 million and net unrealized appreciation on investments of $7.6 million, of which $5.4 million was the reversal of net unrealized depreciation recognized in prior periods due to realized losses noted above.  The net increase in net assets resulting from operations was $8.9 million for the quarter, compared to a net decrease of $25.0 million in the prior quarter.The Company’s NAV at June 30, 2020 was $14.95 per share, as compared to $15.13 at March 31, 2020.  The decrease in NAV per share from the prior quarter is due to the issuance of restricted stock awards.Liquidity and Capital ResourcesAt June 30, 2020, Capital Southwest had approximately $15.0 million in unrestricted cash and money market balances, $182.0 million of total debt outstanding on the Credit Facility, $75.9 million, net of unamortized debt issuance costs, of the December 2022 Notes outstanding, and $73.6 million, net of unamortized debt issuance costs, of the October 2024 Notes outstanding. As of June 30, 2020, Capital Southwest had $139.6 million in available borrowings under the Credit Facility. The debt to equity ratio at the end of the quarter was 1.19 to 1.In September 2019, the Company issued $65.0 million in aggregate principal amount of 5.375% Notes due 2024 (the “Existing October 2024 Notes”). On October 8, 2019, the Company issued an additional $10.0 million in aggregate principal amount of the October 2024 Notes (the "Additional October 2024 Notes" together with the Existing October 2024 Notes, the "October 2024 Notes").  The total net proceeds from the offering of the October 2024 Notes was $73.5 million, before offering expenses payable by us. The October 2024 Notes mature on October 1, 2024 and may be redeemed in whole or in part at any time prior to July 1, 2024, at par plus a “make-whole” premium, and thereafter at par. The October 2024 Notes bear interest at a rate of 5.375% per year, payable semi-annually on April 1 and October 1 of each year, beginning on April 1, 2020.In December 2018, the Company entered into the Amended and Restated Senior Secured Revolving Credit Agreement (the "Amended and Restated Agreement"), and a related Amended and Restated Guarantee, Pledge and Security Agreement, to amend and restate its Senior Secured Revolving Credit Facility (the "Credit Facility"). On May 23, 2019, the Company entered into an Incremental Assumption Agreement, which increased the total commitments under the Credit Facility by $25 million. The increase was executed under the accordion feature of the Credit Facility and increased total commitments from $270 million to $295 million. On March 19, 2020, CSWC entered into an Incremental Assumption Agreement, which increased the total commitments under the accordion feature of the Credit Facility by $30 million, increasing total commitments from $295 million to $325 million.On March 4, 2019, the Company entered into separate equity distribution agreements with certain sales agents through which it may offer and sell, from time to time, shares of its common stock having an aggregate offering price of up to $50,000,000 (the "Equity ATM Program"). On February 4, 2020, the Company (i) increased the maximum amount of shares of its common stock to be sold through the Equity ATM Program to $100,000,000 from $50,000,000 and (ii) added two additional sales agents to the Equity ATM Program. During the quarter ended June 30, 2020, the Company sold 373,177 shares of its common stock under the Equity ATM Program at a weighted-average price of $15.38 per share, raising $5.7 million of gross proceeds. Net proceeds were $5.6 million after commissions to the sales agents on shares sold. Cumulative to date, the Company has sold 1,868,265 shares of its common stock under the Equity ATM Program at a weighted-average price of $20.41, raising $38.1 million of gross proceeds. Net proceeds were $37.4 million after commissions to the sales agents on shares sold. As of June 30, 2020, the Company has $61.9 million available under the Equity ATM Program.Additionally, I-45 SLF has total commitments outstanding of $150 million from a group of four bank lenders in its Deutsche Bank led credit facility, which is scheduled to mature in July 2022. As of June 30, 2020, I-45 SLF had $107 million in borrowings outstanding under its credit facility.Share Repurchase ProgramOn January 25, 2016, Capital Southwest announced that its Board of Directors authorized the repurchase of up to $10.0 million of its common stock at prices below the Company’s net asset value per share as reported in its most recent financial statements. The Board authorized the share repurchase program because it believes that the Company’s common stock may be undervalued from time to time due to market volatility.On March 26, 2020, the aggregate amount of the Company’s common stock purchased (inclusive of commission fees) pursuant to the share repurchase agreement met the threshold set forth in the share repurchase agreement and, as a result, the Company ceased purchasing common stock under the share repurchase program on such date. Cumulative to date, the Company has repurchased a total of 840,543 shares at an average price of $11.85 per share, including commissions paid. Accordingly, during the quarter ended June 30, 2020, the Company did not repurchase any shares of the Company's common stock under the share repurchase program.Declared Dividend of $0.51 Per Share for Quarter Ended September 30, 2020On May 28, 2020, the Board declared total dividends of $0.51 per share for the quarter ended September 30, 2020, comprised of a Regular Dividend of $0.41 per share and a Supplemental Dividend of $0.10 per share.The Company's dividend will be payable as follows:September 30, 2020 Dividend           Amount Per Share: Ex-Dividend Date: Record Date: Payment Date:  $0.51 September 14, 2020 September 15, 2020 September 30, 2020     When declaring dividends, the Board reviews estimates of taxable income available for distribution, which may differ from net investment income under generally accepted accounting principles. The final determination of taxable income for each year, as well as the tax attributes for dividends in such year, will be made after the close of the tax year.  Capital Southwest maintains a dividend reinvestment plan ("DRIP") that provides for the reinvestment of dividends on behalf of its registered stockholders who hold their shares with Capital Southwest’s transfer agent and registrar, American Stock Transfer and Trust Company.  Under the DRIP, if the Company declares a dividend, registered stockholders who have opted into the DRIP by the dividend record date will have their dividend automatically reinvested into additional shares of Capital Southwest common stock. First Quarter 2021 Earnings Results Conference Call and WebcastCapital Southwest has scheduled a conference call on Tuesday, August 4, 2020, at 11:00 a.m. Eastern Time to discuss the first quarter 2021 financial results.  You may access the call by dialing (866) 502-8274 and using the Conference ID 3599199 at least 10 minutes before the call.  The call can also be accessed using the Investor Relations section of Capital Southwest's website at www.capitalsouthwest.com, or by using http://edge.media-server.com/mmc/p/irm7dmom.   A telephonic replay will be available through August 11, 2020 by dialing (855) 859-2056 and using the Conference ID 3599199.  An audio archive of the conference call will also be available on the Investor Relations section of Capital Southwest’s website.For a more detailed discussion of the financial and other information included in this press release, please refer to the Capital Southwest Form 10-Q for the period ended June 30, 2020 to be filed with the Securities and Exchange Commission and Capital Southwest’s First Fiscal Quarter 2021 Earnings Presentation to be posted on the Investor Relations section of Capital Southwest’s website at www.capitalsouthwest.com.About Capital SouthwestCapital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $278 million in net assets as of June 30, 2020. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.Forward-Looking StatementsThis press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest. Forward-looking statements are statements that are not historical statements and can often be identified by words such as "will," "believe," "expect" and similar expressions and variations or negatives of these words. These statements are based on management's current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to: whether the SBA ultimately issues the SBIC license and the timing thereof; changes in the markets in which Capital Southwest invests; changes in the financial, capital, and lending markets; regulatory changes; tax treatment and general economic and business conditions; and uncertainties associated with the impact from the COVID-19 pandemic, including its impact on the global and U.S. capital markets and the global and U.S. economy, the length and duration of the COVID-19 outbreak in the United States as well as worldwide and the magnitude of the economic impact of that outbreak; the effect of the COVID-19 pandemic on our business prospects and the operational and financial performance of our portfolio companies, including our ability and their ability to achieve their respective objectives, and the effects of the disruptions caused by the COVID-19 pandemic on our ability to continue to effectively manage our business.Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest's Annual Report on Form 10-K for the year ended March 31, 2020 and subsequent filings, including the "Risk Factors" sections therein, with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.Investor Relations Contact:Michael S. Sarner, Chief Financial Officer 214-884-3829CAPITAL SOUTHWEST CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF ASSETS AND LIABILITIES (In thousands, except shares and per share data)       June 30, March 31,  2020 2020  (Unaudited)   Assets    Investments at fair value:    Non-control/Non-affiliate investments (Cost: $434,664 and $436,463, respectively)$426,386  $421,280  Affiliate investments (Cost: $109,701 and $94,724, respectively)104,041  92,032  Control investments (Cost: $80,800 and $68,000, respectively)56,751  39,760  Total investments (Cost: $625,165 and $599,187, respectively)587,178  553,072  Cash and cash equivalents14,986  13,744  Receivables:    Dividends and interest9,927  10,389  Escrow1,150  1,643  Other203  51  Income tax receivable347  147  Deferred tax asset1,298  1,402  Debt issuance costs (net of accumulated amortization of $2,932 and $2,720, respectively)2,768  2,980  Other assets1,239  1,531  Total assets$619,096  $584,959       Liabilities    December 2022 Notes (Par value: $77,136 and $77,136, respectively)$75,936  $75,812  October 2024 Notes (Par value: $75,000 and $75,000, respectively)73,575  73,484  Credit facility182,000  154,000  Other liabilities4,688  4,883  Accrued restoration plan liability3,047  3,082  Income tax payable467  513  Deferred tax liability1,524  963  Total liabilities341,237  312,737       Commitments and contingencies (Note 10)         Net Assets    Common stock, $0.25 par value: authorized, 40,000,000 shares; issued, 20,927,652 shares at June 30, 2020 and 20,337,610 shares at March 31, 20205,232  5,085  Additional paid-in capital316,939  310,846  Total distributable earnings(20,375) (19,772) Treasury stock - at cost, 2,339,512 shares(23,937) (23,937) Total net assets277,859  272,222  Total liabilities and net assets$619,096  $584,959  Net asset value per share (18,588,140 shares outstanding at June 30, 2020 and 17,998,098 shares outstanding at March 31, 2020)$14.95  $15.13           CAPITAL SOUTHWEST CORPORATION AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (In thousands, except shares and per share data)       Three Months Ended  June 30,  2020 2019 Investment income:    Interest income:    Non-control/Non-affiliate investments$10,069  $9,031  Affiliate investments2,576  2,050  Control investments—  265  Dividend income:    Non-control/Non-affiliate investments183  87  Affiliate investments—  19  Control investments1,774  3,913  Interest income from cash and cash equivalents3  16  Fees and other income559  418  Total investment income15,164  15,799  Operating expenses:    Compensation1,720  2,021  Share-based compensation612  837  Interest4,328  3,806  Professional fees570  626  Net pension expense33  36  General and administrative732  789  Total operating expenses7,995  8,115  Income before taxes7,169  7,684  Income tax expense350  324  Net investment income$6,819  $7,360       Realized (loss) gain    Non-control/Non-affiliate investments$(5,547) $1,049  Affiliate investments—  1  Control investments—  167  Total net realized (loss) gain on investments, net of tax(5,547) 1,217       Net unrealized appreciation (depreciation) on investments    Non-control/Non-affiliate investments6,905  (2,972) Affiliate investments(2,967) 1,206  Control investments4,191  85  Income tax (provision) benefit(524) (183) Total net unrealized appreciation (depreciation) on investments, net of tax7,605  (1,864)      Net realized and unrealized gains (losses) on investments$2,058  $(647)      Net increase in net assets from operations$8,877  $6,713       Pre-tax net investment income per share - basic and diluted$0.40  $0.44  Net investment income per share – basic and diluted$0.38  $0.42  Net increase in net assets from operations – basic and diluted$0.49  $0.38  Weighted average shares outstanding – basic18,147,888  17,535,924  Weighted average shares outstanding – diluted18,147,888  17,535,924
Thu, 30 Jul 2020
20:01:00 +0000
Capital Southwest Receives “Green Light” Letter from the U.S. Small Business Administration to Form New SBIC Subsidiary
DALLAS, July 30, 2020 (GLOBE NEWSWIRE) -- Capital Southwest Corporation (“Capital Southwest” or the “Company”; Nasdaq: CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that the U.S. Small Business Administration (the “SBA”) has issued a “green light” letter inviting Capital Southwest to file its application to obtain a license to operate a Small Business Investment Company (“SBIC”) subsidiary.  “We are extremely pleased to receive a ‘green light’ letter from the SBA.  Operating an SBIC subsidiary has been a strategic priority for Capital Southwest since our transformation to a traditional middle-market lender in 2015,” said Bowen Diehl, President and Chief Executive Officer of Capital Southwest.  “Access to SBA debentures will continue to diversify our sources of attractive balance sheet capital, while also allowing us to focus on our core lower middle market investment strategy.  Our lower middle market strategy is a natural fit with the SBA’s mission of funding underserved markets, including businesses based in low to moderate income areas and business owned by minorities, women, or veterans.  We look forward to continuing to work with the SBA to complete this process.”An SBIC license would provide Capital Southwest an incremental source of long-term capital by permitting it to issue up to $175 million of SBA-guaranteed debentures.  These debentures have maturities of ten years and have fixed interest rates tied to the U.S. 10 Year Treasury rate, which are generally lower than comparable bank and other forms of debt.  Receipt of a green light letter from the SBA does not assure an applicant that the SBA will ultimately issue an SBIC license, and Capital Southwest has received no assurance or indication from the SBA that it will receive an SBIC license, or of the timeframe in which it would receive a license, should one be granted.About Capital SouthwestCapital Southwest Corporation (Nasdaq: CSWC) is a Dallas, Texas-based, internally managed business development company with approximately $272 million in net assets as of March 31, 2020. Capital Southwest is a middle market lending firm focused on supporting the acquisition and growth of middle market businesses with $5 million to $25 million investments across the capital structure, including first lien, unitranche, second lien, subordinated debt and non-control equity co-investments. As a public company with a permanent capital base, Capital Southwest has the flexibility to be creative in its financing solutions and to invest to support the growth of its portfolio companies over long periods of time.Forward-Looking StatementsThis press release contains historical information and forward-looking statements with respect to the business and investments of Capital Southwest, including the potential benefits of obtaining a license to operate a wholly owned SBIC subsidiary. Forward-looking statements are statements that are not historical statements and can often be identified by words such as "will," "believe," "expect" and similar expressions and variations or negatives of these words. These statements are based on management's current expectations, assumptions and beliefs. They are not guarantees of future results and are subject to numerous risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statement. These risks include risks related to: whether the SBA ultimately issues the SBIC license and the timing thereof; changes in the markets in which Capital Southwest invests; changes in the financial and lending markets; regulatory changes; tax treatment and general economic and business conditions; and uncertainties associated with the impact from the COVID-19 pandemic, including its impact on the global and U.S. capital markets and the global and U.S. economy, the length and duration of the COVID-19 outbreak in the United States as well as worldwide and the magnitude of the economic impact of that outbreak; the effect of the COVID-19 pandemic on our business prospects and the operational and financial performance of our portfolio companies, including our ability and their ability to achieve their respective objectives, and the effects of the disruptions caused by the COVID-19 pandemic on our ability to continue to effectively manage our business.Readers should not place undue reliance on any forward-looking statements and are encouraged to review Capital Southwest's Annual Report on Form 10-K for the year ended March 31, 2020 and subsequent filings with the Securities and Exchange Commission for a more complete discussion of the risks and other factors that could affect any forward-looking statements. Except as required by the federal securities laws, Capital Southwest does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, changing circumstances or any other reason after the date of this press release.Investor Relations Contact:Michael S. Sarner, Chief Financial Officer 214-884-3829
Mon, 27 Jul 2020
16:31:04 +0000
Analysts Estimate Capital Southwest (CSWC) to Report a Decline in Earnings: What to Look Out for
Capital Southwest (CSWC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Wed, 22 Jul 2020
03:43:24 +0000
Edited Transcript of CSWC earnings conference call or presentation 2-Jun-20 3:00pm GMT
Q4 2020 Capital Southwest Corp Earnings Call
Thu, 16 Jul 2020
20:01:10 +0000
Capital Southwest Announces First Quarter Fiscal Year 2021 Earnings Release and Conference Call Schedule
DALLAS, July 16, 2020 -- Capital Southwest Corporation (“Capital Southwest” or the “Company”; Nasdaq: CSWC), an internally managed business development company focused on.
Fri, 10 Jul 2020
17:15:29 +0000
3 “Strong Buy” Dividend Stocks With Yields of at Least 7%
Let’s talk about dividend stocks. These have always been popular with income minded investors, who are attracted to the steady payments and are wiling to sacrifice some share appreciation to mitigate overall risk. That’s both a fair trade and a viable investing strategy.It should have held together during the height of the coronavirus pandemic. That is, dividend stocks should have performed their usual role for investors, helping to insulate portfolios from a larger shock during a period of recessionary pressures. But they did not. Too many companies were hurt too badly, as earnings and cash flow plummeted, and many formerly reliable dividends were reduced or even suspended during the crisis.So, 1H20 has been hard on dividend stocks, and just when investors needed them most. Some due diligence, however, can find the continuing dividend champs, those companies that have made it through the initial economic turndown while retaining their dividend policies. These companies are attracting notice for Wall Street’s analysts, as the go-to choices for dividend investors. Using the TipRanks database, we’ve pulled up some details on three of these stocks.Capital Southwest Corporation (CSWC)We’ll start in the finance industry. Capital Southwest, based in Texas, is a business development company – a BDC – with a focus on high-appreciation opportunities. The company provides specialty lending options and financings for middle market players in a variety of sectors. Some of CSWC’s methods include industry consolidations, management buyouts, and recapitalizations.The company’s strong and heavily diversified portfolio helped to insulate it from the corona-inspired economic shutdown. In fiscal Q4, the company's earnings rose sequentially, coming in at 40 cents per share.Dividend investors are more likely to be pleased by management’s announcement, in early June, that the dividend would be maintained, and that between the regular payment and a special dividend release, it would total 51 cents per share. This is the same as the previous two quarters, and comes after a solid year of slow dividend growth. At the current payment, CSWC’s dividend has an impressive yield of 12.77%Covering the stock for JMP Securities, Christopher York sees a company with room to maneuver. He writes, “Capital Southwest remains one of the most attractive ways to gain exposure to lower-middle-market direct originations. We continue to believe core and supplemental dividends remain sustainable… the company has ample liquidity to fund new investments and support portfolio companies, if needed.”In line with his comments, York reiterates his Buy rating on CSWC. His $17 price target indicates confidence in a one-year upside of 35%. (To watch York’s track record, click here)Overall, Capital Southwest has a Strong Buy rating from the analyst consensus, based on a 3 to 1 split between Buy and Hold reviews. The stock is selling for $12.60, and the $14.25 average price target implies an upside of 13% for the coming year. (See CSWC stock analysis on TipRanks)Heritage Commerce Corporation (HTBK)Next up, Heritage Commerce, is a holding company whose main subsidiary, Heritage Bank of Commerce, serves customers in the San Francisco Bay area as well as Santa Clara and Alameda counties. The company offers general banking and deposit services to the public, and originates a range of consumer and commercial loans.Like most companies with direct contact customer service models, Heritage saw earnings plummet in Q1. The sequential drop was 77%; reported EPS was only 6 cents. The earnings loss came even as revenues beat the forecast. At the top line, the $41.77 million reported for Q1 was up 24% year-over-year.Strong liquidity allows Heritage to weather the corona crisis, survive a steep drop in earnings, and maintain its dividend. The company reported $443.4 million in available cash and liquid assets at the end of the first quarter, along with access to another $477.5 million through borrowing. That’s a hefty war chest for any situation.The company has kept up its dividend payments, without reductions, through the health crisis. The current payment is 13 cents per share quarterly, or 52 cents annualized. At this rate, the dividend offers a yield of 7.65%, far above the 2% average found among S&P listed companies. Better, for investors, Heritage has an 11-year history of prioritizing dividend payments.Andrew Liesch, of Piper Sandler, points out that a significant portion of Heritage’s service portfolio – upwards of 7% of the total – consists of retail and food service commercial customers, who are likely to see surge in banking needs when the epidemic fades on the West Coast. He writes, “[R]etail trade exposure includes gas stations with convenience stores while the food service portfolio is mostly QSRs, both of which have been operating while under shelter-in-place and should experience stronger customer volume as auto traffic and commuting return.”Liesch rates this stock a Buy, citing both forward prospects and current liquidity. His $9 price target suggests an upside of 36% in the coming year. (To watch Liesch’s track record, click here)Heritage gets a Strong Buy from the analyst consensus, and that verdict is unanimous. The stock has 3 recent reviews, and they are all Buys. Shares are priced at $6.80, and the $9.33 average price target – slightly more bullish than Liesch’s – implies a 41% one-year upside. (See HTBK stock analysis on TipRanks)Kimbell Royalty Partners (KRP)Last on today’s list of dividend stock is Kimbell Royalty, a land company operating in oil regions across the US. Kimbell invests in mineral and royalty interests, buying up land it can leas to oil and natural gas producers. The company’s revenue is derived from royalties on hydrocarbon extraction from its properties.Kimbell owns over 38,000 active wells, with 43% of its operations in Texas’ Permian Basin. The company entered 2020 after reporting strong year-over-year gains for both Q4 and CY2019, and had also just completed the acquisition of a competing mineral rights company, Springbok, in a $175 million deal.The drop in oil prices during the bear market cycle, and overall lower demand during the coronavirus economic shutdowns, put serious pressure on Kimbell’s revenue stream. Q1 earnings fell sharply, to a net loss of $1.29 per share, and the stock price has still rebounded from the crash earlier this year. Nevertheless, Kimbell management has chosen to maintain a common stock dividend – although the payment has been cut back to 17 cents per share. This annualizes to 68 cents, and gives a robust yield of 8.2%. The company has stated its commitment to distributing up to 50% of available cash to shareholders.Stephens analyst Gail Nicholson cites the company’s dividend policy in his review of the stock, writing, “We are modeling the company’s distribution as a percent of cash flows flat with 1Q20 (~50%) for the remainder of the year and increases to ~100% during 4Q21 (distribution policy is flexible and likely adjusts based on commodity prices). We anticipate the company utilizes the non distributed cash to further improve its balance sheet.”Nicholson gives weight loss a Buy rating, and supports it by raising his price target from $3 to $11. His new target implies a 32% upside potential for the stock. (To watch Nicholson’s track record, click here)All in all, the analyst consensus rating on Kimbell Royalty is a Strong Buy; the stock has 4 Buy and 1 Hold review behind that rating. The $10.25 average price target suggests a 23% premium form the current share price of $8.28. (See KRP stock analysis on TipRanks)To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights.
Mon, 22 Jun 2020
20:01:10 +0000
Capital Southwest Announces Virtual 2020 Annual Meeting of Shareholders
Capital Southwest Corporation (“Capital Southwest”) (CSWC) announced today that, due to the public health impact of the coronavirus outbreak (COVID-19) and related health and travel concerns, it has changed the format of its 2020 Annual Meeting of Shareholders (the "Annual Meeting") from a physical in-person meeting to a virtual-only format. To participate in the Annual Meeting, shareholders of record as of the close of business on June 1, 2020 will need to visit www.virtualshareholdermeeting.com/CSWC2020 and enter their control number included on their proxy card or voting instruction form previously received. Capital Southwest encourages eligible shareholders to vote on the proposals prior to the Annual Meeting using the instructions provided in the proxy materials previously distributed.
Mon, 15 Jun 2020
00:57:58 +0000
Hedge Funds Are Dumping Capital Southwest Corporation (CSWC)
In this article we will check out the progression of hedge fund sentiment towards Capital Southwest Corporation (NASDAQ:CSWC) and determine whether it is a good investment right now. We at Insider Monkey like to examine what billionaires and hedge funds think of a company before spending days of research on it. Given their 2 and […]
Thu, 11 Jun 2020
21:09:06 +0000
Capital Southwest Supports Coastal Television Broadcasting’s Acquisition of Wyoming Media Group
Capital Southwest Corporation (“Capital Southwest”) (CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported Coastal Television Broadcasting Holdings LLC and its affiliates’ (“Coastal TV” or the “Company”) recent acquisitions of stations controlled by Wyoming Media Group (collectively, “WMG”) with  term loans and a revolving credit facility. Capital Southwest led the financing transaction and will act as the sole administrative agent on the credit facilities. Main Street Capital Corporation (MAIN) was a co-investor in the credit facilities.
Wed, 03 Jun 2020
00:00:41 +0000
Capital Southwest Corp (CSWC) Q4 2020 Earnings Call Transcript
CSWC earnings call for the period ending March 31, 2020.
Tue, 02 Jun 2020
20:01:10 +0000
Capital Southwest Supports Osceola Capital’s Recapitalization of Central Medical Group
Capital Southwest Corporation (“Capital Southwest,” “CSWC” or the “Company”) (CSWC), an internally managed business development company focused on providing flexible financing solutions to support the acquisition and growth of middle market businesses, announced today that it supported Osceola Capital’s (“Osceola”) recapitalization of Central Medical Group (“CMG” or the “Company”) with a senior secured first lien term loan, revolver and capex line, as well as a minority equity investment. Capital Southwest led the financing and will act as the sole administrative agent on the credit facilities. "We are thrilled to partner with Osceola on its recapitalization of CMG,” said Douglas Kelley, Managing Director of Capital Southwest.
Mon, 01 Jun 2020
21:55:09 +0000
Capital Southwest (CSWC) Surpasses Q4 Earnings Estimates
Capital Southwest (CSWC) delivered earnings and revenue surprises of 2.56% and -3.21%, respectively, for the quarter ended March 2020. Do the numbers hold clues to what lies ahead for the stock?
Mon, 01 Jun 2020
20:01:10 +0000
Capital Southwest Announces Financial Results for Fourth Quarter and Fiscal Year Ended March 31, 2020 and Announces Total Dividends of $0.51 Per Share for the Quarter Ended September 30, 2020
DALLAS, June 01, 2020 -- Capital Southwest Corporation (“Capital Southwest,” “CSWC” or the “Company”) (Nasdaq: CSWC), an internally managed business development company focused.

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Capital Southwest Corporation (CSWC)