JMP Securities upgraded shares of Solar Capital (NASDAQ:SLRC) from a market perform rating to an outperform rating in a research note released on Tuesday.
Several other equities analysts have also recently weighed in on the company. Keefe, Bruyette & Woods upgraded Solar Capital from a market perform rating to an outperform rating and set a $23.00 price target for the company in a research report on Friday, January 12th. BidaskClub cut Solar Capital from a sell rating to a strong sell rating in a research report on Thursday, December 7th. National Securities reiterated a buy rating and issued a $25.00 price target on shares of Solar Capital in a research report on Wednesday, November 29th. Zacks Investment Research upgraded Solar Capital from a sell rating to a hold rating in a research report on Thursday, November 9th. Finally, Ladenburg Thalmann Financial Services raised Solar Capital from a neutral rating to a buy rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $23.67.
Shares of Solar Capital (NASDAQ SLRC) traded up $0.10 during midday trading on Tuesday, hitting $21.10. The stock had a trading volume of 184,092 shares, compared to its average volume of 177,608. The stock has a market capitalization of $891.70, a PE ratio of 12.56, a PEG ratio of 2.35 and a beta of 0.55. Solar Capital has a one year low of $19.90 and a one year high of $22.94. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.01 and a current ratio of 1.01.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). The company had revenue of $36.15 million during the quarter, compared to analysts’ expectations of $35.95 million. Solar Capital had a net margin of 50.29% and a return on equity of 7.32%. analysts predict that Solar Capital will post 1.6 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Investors of record on Thursday, March 22nd will be paid a dividend of $0.41 per share. This is a positive change from Solar Capital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, March 21st. This represents a $1.64 annualized dividend and a yield of 7.77%. Solar Capital’s dividend payout ratio (DPR) is currently 95.24%.
A number of large investors have recently bought and sold shares of SLRC. Global X MANAGEMENT CO LLC boosted its stake in Solar Capital by 49.3% during the third quarter. Global X MANAGEMENT CO LLC now owns 9,024 shares of the financial services provider’s stock valued at $195,000 after buying an additional 2,981 shares during the period. Macquarie Group Ltd. bought a new stake in Solar Capital during the third quarter valued at $210,000. Russell Investments Group Ltd. bought a new stake in Solar Capital during the second quarter valued at $217,000. Northern Trust Corp boosted its stake in Solar Capital by 11.7% during the second quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock valued at $228,000 after buying an additional 1,088 shares during the period. Finally, California Public Employees Retirement System bought a new stake in Solar Capital during the third quarter valued at $254,000. 63.08% of the stock is owned by institutional investors.
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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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