Solar Capital (NASDAQ:SLRC) announced its earnings results on Monday. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03), Fidelity Earnings reports. The business had revenue of $37.01 million for the quarter, compared to analysts’ expectations of $39.59 million. Solar Capital had a net margin of 48.51% and a return on equity of 8.01%.
Solar Capital stock opened at $21.25 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 0.98. Solar Capital has a 1-year low of $19.70 and a 1-year high of $22.55. The stock has a market capitalization of $877.34 million, a P/E ratio of 13.12, a PEG ratio of 2.31 and a beta of 0.65.
A number of institutional investors have recently bought and sold shares of SLRC. FDx Advisors Inc. purchased a new stake in Solar Capital in the 2nd quarter worth about $207,000. Texas Yale Capital Corp. purchased a new stake in Solar Capital in the 2nd quarter worth about $276,000. California Public Employees Retirement System purchased a new stake in Solar Capital in the 2nd quarter worth about $356,000. Royal Bank of Canada raised its position in Solar Capital by 78.4% in the 1st quarter. Royal Bank of Canada now owns 91,323 shares of the financial services provider’s stock worth $1,855,000 after purchasing an additional 40,143 shares during the period. Finally, Chicago Partners Investment Group LLC raised its position in Solar Capital by 14.2% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 95,165 shares of the financial services provider’s stock worth $1,931,000 after purchasing an additional 11,867 shares during the period. 59.63% of the stock is currently owned by institutional investors.
Several brokerages have recently issued reports on SLRC. National Securities restated a “buy” rating and set a $25.00 target price on shares of Solar Capital in a research report on Tuesday. Zacks Investment Research cut shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Thursday, November 1st. ValuEngine cut shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Monday, October 8th. Wells Fargo & Co cut shares of Solar Capital from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 4th. Finally, BidaskClub raised shares of Solar Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $23.67.
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Solar Capital Company Profile
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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