According to Zacks, “Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged companies, including middle market companies, in the form of senior secured loans, mezzanine loans, and equity securities. “
Several other analysts also recently commented on SLRC. Compass Point initiated coverage on shares of Solar Capital in a report on Tuesday, January 3rd. They issued a buy rating and a $22.40 price objective on the stock. Ladenburg Thalmann Financial Services downgraded shares of Solar Capital from a buy rating to a neutral rating in a report on Friday, February 24th. They noted that the move was a valuation call. Finally, National Securities upped their price objective on shares of Solar Capital from $22.00 to $24.00 and gave the company a buy rating in a report on Monday, February 27th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus target price of $22.34.
Solar Capital (NASDAQ:SLRC) opened at 21.13 on Tuesday. Solar Capital has a 12-month low of $17.80 and a 12-month high of $22.94. The stock has a 50 day moving average of $22.39 and a 200 day moving average of $21.41.
Solar Capital (NASDAQ:SLRC) last released its quarterly earnings data on Tuesday, May 2nd. The financial services provider reported $0.39 EPS for the quarter, missing the consensus estimate of $0.42 by $0.03. The business earned $34.39 million during the quarter, compared to analysts’ expectations of $36.24 million. Solar Capital had a net margin of 50.98% and a return on equity of 7.83%. Analysts predict that Solar Capital will post $1.74 earnings per share for the current fiscal year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Stockholders of record on Thursday, June 22nd will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.57%. The ex-dividend date of this dividend is Tuesday, June 20th. Solar Capital’s dividend payout ratio (DPR) is 89.89%.
In other Solar Capital news, insider Michael S. Gross bought 19,666 shares of Solar Capital stock in a transaction dated Thursday, March 2nd. The stock was acquired at an average cost of $22.28 per share, for a total transaction of $438,158.48. Following the completion of the transaction, the insider now directly owns 165,894 shares of the company’s stock, valued at $3,696,118.32. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.80% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the company. Two Sigma Investments LP boosted its stake in Solar Capital by 20.6% in the fourth quarter. Two Sigma Investments LP now owns 123,917 shares of the financial services provider’s stock valued at $2,580,000 after buying an additional 21,192 shares during the last quarter. Argent Capital Management LLC boosted its stake in Solar Capital by 20.8% in the third quarter. Argent Capital Management LLC now owns 115,933 shares of the financial services provider’s stock valued at $2,379,000 after buying an additional 19,950 shares during the last quarter. Van ECK Associates Corp boosted its stake in Solar Capital by 21.6% in the fourth quarter. Van ECK Associates Corp now owns 175,284 shares of the financial services provider’s stock valued at $3,649,000 after buying an additional 31,146 shares during the last quarter. Meritage Portfolio Management boosted its stake in Solar Capital by 0.6% in the third quarter. Meritage Portfolio Management now owns 188,670 shares of the financial services provider’s stock valued at $3,871,000 after buying an additional 1,120 shares during the last quarter. Finally, Muzinich & Co. Inc. boosted its stake in Solar Capital by 43.4% in the third quarter. Muzinich & Co. Inc. now owns 902,226 shares of the financial services provider’s stock valued at $18,514,000 after buying an additional 273,040 shares during the last quarter. Hedge funds and other institutional investors own 59.26% of the company’s stock.
Solar Capital Company Profile
Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.
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