Solar Capital Ltd. (NASDAQ:SLRC) declared a quarterly dividend on Wednesday, November 7th, Wall Street Journal reports. Investors of record on Thursday, December 20th will be given a dividend of 0.41 per share by the financial services provider on Friday, January 4th. This represents a $1.64 annualized dividend and a yield of 7.79%. The ex-dividend date is Wednesday, December 19th.
Solar Capital has a dividend payout ratio of 91.1% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Equities research analysts expect Solar Capital to earn $1.85 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 88.6%.
Solar Capital stock traded down $0.21 on Wednesday, hitting $21.04. The company’s stock had a trading volume of 154,094 shares, compared to its average volume of 96,259. The firm has a market capitalization of $877.34 million, a PE ratio of 13.00, a price-to-earnings-growth ratio of 2.31 and a beta of 0.65. The company has a debt-to-equity ratio of 0.51, a current ratio of 0.98 and a quick ratio of 0.98. Solar Capital has a one year low of $19.70 and a one year high of $22.55.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings results on Monday, November 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by ($0.03). The business had revenue of $37.01 million during the quarter, compared to the consensus estimate of $39.59 million. Solar Capital had a net margin of 48.51% and a return on equity of 8.01%. Analysts predict that Solar Capital will post 1.8 earnings per share for the current fiscal year.
SLRC has been the topic of several analyst reports. BidaskClub lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Zacks Investment Research lowered shares of Solar Capital from a “buy” rating to a “hold” rating in a report on Friday, July 27th. ValuEngine raised shares of Solar Capital from a “sell” rating to a “hold” rating in a report on Saturday, July 28th. National Securities reissued a “buy” rating and issued a $25.00 price target on shares of Solar Capital in a report on Thursday, August 9th. Finally, Wells Fargo & Co lowered shares of Solar Capital from an “outperform” rating to a “market perform” rating in a report on Thursday, October 4th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $23.67.
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About Solar Capital
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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