Zacks Investment Research upgraded shares of Solar Capital (NASDAQ:SLRC) from a sell rating to a hold rating in a research report sent to investors on Thursday, November 9th.
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. “
A number of other equities analysts have also recently weighed in on the stock. National Securities restated a buy rating and set a $24.00 price objective on shares of Solar Capital in a research report on Monday, August 7th. Keefe, Bruyette & Woods set a $23.00 target price on shares of Solar Capital and gave the stock a hold rating in a report on Thursday, August 3rd. Ladenburg Thalmann Financial Services raised shares of Solar Capital from a neutral rating to a buy rating in a report on Monday, November 6th. Finally, BidaskClub lowered shares of Solar Capital from a hold rating to a sell rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Solar Capital currently has an average rating of Hold and an average target price of $23.35.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.41 EPS for the quarter, missing the consensus estimate of $0.42 by ($0.01). Solar Capital had a net margin of 50.29% and a return on equity of 7.32%. The business had revenue of $36.15 million for the quarter, compared to analyst estimates of $35.95 million. equities research analysts predict that Solar Capital will post 1.6 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 22nd will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 7.46%. The ex-dividend date is Wednesday, March 21st. This is a boost from Solar Capital’s previous quarterly dividend of $0.40. Solar Capital’s dividend payout ratio is currently 95.24%.
Several institutional investors and hedge funds have recently modified their holdings of SLRC. Royal Bank of Canada increased its stake in Solar Capital by 0.3% in the second quarter. Royal Bank of Canada now owns 38,320 shares of the financial services provider’s stock valued at $838,000 after purchasing an additional 116 shares during the last quarter. Green Square Capital LLC grew its position in Solar Capital by 1.3% in the 2nd quarter. Green Square Capital LLC now owns 16,796 shares of the financial services provider’s stock valued at $374,000 after buying an additional 212 shares during the last quarter. Sei Investments Co. grew its position in Solar Capital by 2.4% in the 2nd quarter. Sei Investments Co. now owns 34,100 shares of the financial services provider’s stock valued at $746,000 after buying an additional 792 shares during the last quarter. Northern Trust Corp lifted its holdings in Solar Capital by 11.7% in the second quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 1,088 shares during the period. Finally, Pekin Singer Strauss Asset Management IL lifted its holdings in Solar Capital by 1.2% in the second quarter. Pekin Singer Strauss Asset Management IL now owns 93,572 shares of the financial services provider’s stock valued at $2,046,000 after acquiring an additional 1,089 shares during the period. 62.90% of the stock is currently owned by institutional investors and hedge funds.
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About Solar Capital
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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