Solar Capital Ltd. (NASDAQ:SLRC) has earned an average rating of “Hold” from the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $23.67.
Several analysts have weighed in on the stock. JMP Securities raised shares of Solar Capital from a “market perform” rating to an “outperform” rating in a research note on Tuesday, January 16th. Keefe, Bruyette & Woods upgraded shares of Solar Capital from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a research report on Friday, January 12th. BidaskClub lowered shares of 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 set a $25.00 target price on shares of Solar Capital in a research report on Wednesday, November 29th. Finally, Zacks Investment Research upgraded shares of Solar Capital from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th.
Hedge funds have recently made changes to their positions in the company. Global X MANAGEMENT CO LLC lifted its position in shares of 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 worth $195,000 after purchasing an additional 2,981 shares in the last quarter. Macquarie Group Ltd. acquired a new position in shares of Solar Capital during the third quarter worth approximately $210,000. Russell Investments Group Ltd. acquired a new position in shares of Solar Capital during the second quarter worth approximately $217,000. Northern Trust Corp lifted its position in shares of Solar Capital by 11.7% during the second quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 1,088 shares in the last quarter. Finally, California Public Employees Retirement System acquired a new position in Solar Capital in the third quarter valued at approximately $254,000. Institutional investors own 63.08% of the company’s stock.
Shares of Solar Capital (SLRC) traded up $0.03 during trading on Tuesday, reaching $21.13. 66,980 shares of the company’s stock traded hands, compared to its average volume of 152,681. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $892.97, a PE ratio of 13.21, a price-to-earnings-growth ratio of 2.38 and a beta of 0.55. Solar Capital has a 1 year low of $19.90 and a 1 year high of $22.94.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data 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 firm had revenue of $36.15 million for the quarter, compared to the consensus estimate of $35.95 million. Solar Capital had a return on equity of 7.32% and a net margin of 50.29%. equities analysts expect that Solar Capital will post 1.6 EPS for the current fiscal year.
The business also recently announced 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 dividend on an annualized basis and a dividend yield of 7.76%. This is a positive change from Solar Capital’s previous quarterly dividend of $0.40. The ex-dividend date is Wednesday, March 21st. Solar Capital’s dividend payout ratio is presently 95.24%.
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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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