Overview

* Fidus Q3 total investment income falls 2.9% yr/yr to $37.3 mln

* Net investment income decreases 18.9% yr/yr to $17.4 mln

* The lower middle-market BDC declares Q4 dividends totaling $0.50 per share

Outlook

* Company has a strong pipeline of new investments and add-ons in existing portfolio companies

* Fidus intends to maintain a portfolio structured for attractive risk-adjusted returns

Result Drivers

* INVESTMENT INCOME DECLINE - Total investment income decreased due to lower dividend and fee income, despite increased payment-in-kind interest income

* EXPENSES INCREASE - Higher interest and financing expenses contributed to increased total expenses

* PORTFOLIO EXPANSION - Continued investment in new portfolio companies supports growth strategy

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Net $711 mln

Asset

Value

Q3 Net $19.56

Asset

Value

Per

Share

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the closed end funds peer group is "hold."

* Wall Street's median 12-month price target for Fidus Investment Corp ( FDUS ) is $22.00, about 5.4% above its November 5 closing price of $20.82

* The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)