Solar Capital Ltd. (NASDAQ:SLRC) has been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $24.00.
SLRC has been the subject of several research analyst reports. National Securities reissued a “buy” rating and set a $25.00 price objective on shares of Solar Capital in a research report on Thursday, August 9th. BidaskClub raised Solar Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. ValuEngine raised Solar Capital from a “sell” rating to a “hold” rating in a research report on Saturday, July 28th. Zacks Investment Research lowered Solar Capital from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. Finally, Wells Fargo & Co lowered Solar Capital from an “outperform” rating to a “market perform” rating in a research note on Thursday, October 4th.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wells Fargo & Company MN grew its stake in shares of Solar Capital by 12.8% in the 1st quarter. Wells Fargo & Company MN now owns 297,290 shares of the financial services provider’s stock valued at $6,038,000 after purchasing an additional 33,785 shares during the period. BlackRock Inc. grew its stake in shares of Solar Capital by 12.9% in the 1st quarter. BlackRock Inc. now owns 232,802 shares of the financial services provider’s stock valued at $4,728,000 after purchasing an additional 26,511 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Solar Capital by 8.8% in the 1st quarter. JPMorgan Chase & Co. now owns 638,542 shares of the financial services provider’s stock valued at $12,969,000 after purchasing an additional 51,399 shares during the period. Great West Life Assurance Co. Can bought a new stake in shares of Solar Capital in the 1st quarter valued at approximately $228,000. Finally, Sei Investments Co. grew its stake in shares of Solar Capital by 78.7% in the 1st quarter. Sei Investments Co. now owns 172,582 shares of the financial services provider’s stock valued at $3,505,000 after purchasing an additional 76,019 shares during the period. Hedge funds and other institutional investors own 60.60% of the company’s stock.
Shares of NASDAQ SLRC traded up $0.16 during trading hours on Thursday, hitting $20.85. 2,597 shares of the company’s stock were exchanged, compared to its average volume of 96,042. Solar Capital has a 1-year low of $19.70 and a 1-year high of $22.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a market capitalization of $903.54 million, a PE ratio of 12.88, a P/E/G ratio of 2.38 and a beta of 0.67.
Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings data on Monday, August 6th. The financial services provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.01). Solar Capital had a return on equity of 8.01% and a net margin of 48.51%. The business had revenue of $39.19 million for the quarter, compared to analyst estimates of $38.17 million. As a group, equities research analysts forecast that Solar Capital will post 1.8 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Investors of record on Thursday, September 20th were paid a dividend of $0.41 per share. The ex-dividend date was Wednesday, September 19th. This represents a $1.64 annualized dividend and a yield of 7.87%. Solar Capital’s dividend payout ratio is 101.23%.
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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