Brokerages forecast that Solar Senior Capital Ltd (NASDAQ:SUNS) will post $8.74 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Solar Senior Capital’s earnings, with the lowest sales estimate coming in at $8.28 million and the highest estimate coming in at $9.20 million. Solar Senior Capital posted sales of $7.16 million in the same quarter last year, which suggests a positive year-over-year growth rate of 22.1%. The firm is scheduled to announce its next quarterly earnings results on Wednesday, February 28th.
According to Zacks, analysts expect that Solar Senior Capital will report full year sales of $8.74 million for the current financial year, with estimates ranging from $31.00 million to $32.30 million. For the next fiscal year, analysts anticipate that the company will report sales of $41.40 million per share, with estimates ranging from $40.80 million to $42.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Solar Senior Capital.
Solar Senior Capital (NASDAQ:SUNS) last announced its earnings results on Thursday, November 2nd. The asset manager reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.02. The business had revenue of $7.97 million during the quarter, compared to the consensus estimate of $7.82 million. Solar Senior Capital had a net margin of 76.43% and a return on equity of 8.39%.
A number of equities analysts have commented on the stock. Zacks Investment Research upgraded shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a report on Wednesday, October 11th. BidaskClub downgraded shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a report on Wednesday, December 27th.
A number of institutional investors have recently made changes to their positions in SUNS. Advisor Group Inc. raised its holdings in Solar Senior Capital by 1.4% in the second quarter. Advisor Group Inc. now owns 6,657 shares of the asset manager’s stock worth $112,000 after purchasing an additional 95 shares in the last quarter. Cetera Investment Advisers bought a new position in Solar Senior Capital in the second quarter worth about $241,000. Summit Global Investments bought a new position in Solar Senior Capital in the second quarter worth about $493,000. Russell Investments Group Ltd. raised its holdings in Solar Senior Capital by 166.5% in the second quarter. Russell Investments Group Ltd. now owns 30,360 shares of the asset manager’s stock worth $508,000 after purchasing an additional 18,968 shares in the last quarter. Finally, OxFORD Asset Management LLP raised its holdings in Solar Senior Capital by 24.8% in the third quarter. OxFORD Asset Management LLP now owns 33,478 shares of the asset manager’s stock worth $583,000 after purchasing an additional 6,644 shares in the last quarter. Institutional investors and hedge funds own 30.24% of the company’s stock.
Shares of Solar Senior Capital (NASDAQ:SUNS) traded down $0.14 during trading on Monday, reaching $17.62. 48,815 shares of the company’s stock were exchanged, compared to its average volume of 43,058. The company has a market capitalization of $282.53, a P/E ratio of 12.24, a PEG ratio of 2.49 and a beta of 0.64. Solar Senior Capital has a fifty-two week low of $16.10 and a fifty-two week high of $18.46.
The company also recently announced a monthly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Thursday, January 18th will be issued a $0.1175 dividend. The ex-dividend date of this dividend is Wednesday, January 17th. This is an increase from Solar Senior Capital’s previous monthly dividend of $0.12. This represents a $1.41 dividend on an annualized basis and a yield of 8.00%. Solar Senior Capital’s payout ratio is currently 97.92%.
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Solar Senior Capital Company Profile
Solar Senior Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to seek to maximize current income consistent with the preservation of capital. The Company seeks to achieve its investment objective by directly and indirectly investing in senior loans, including first lien, unitranche, and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade, which it refers to collectively as senior loans.
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