Solar Capital Ltd. (NASDAQ:SLRC) has received an average recommendation of “Hold” from the eight research firms that are covering the stock. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $22.28.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Solar Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, December 27th. National Securities raised their price target on shares of Solar Capital from $22.00 to $24.00 and gave the company a “buy” rating in a report on Monday, February 27th. Ladenburg Thalmann Financial Services downgraded shares of Solar Capital from a “buy” rating to a “neutral” rating in a report on Friday, February 24th. They noted that the move was a valuation call. Finally, Compass Point began coverage on shares of Solar Capital in a report on Tuesday, January 3rd. They issued a “buy” rating and a $22.40 target price on the stock.
In related news, insider Michael S. Gross purchased 19,666 shares of the firm’s stock in a transaction on Thursday, March 2nd. The shares were bought at an average cost of $22.28 per share, for a total transaction of $438,158.48. Following the transaction, the insider now directly owns 165,894 shares of the company’s stock, valued at approximately $3,696,118.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 5.80% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Yorktown Management & Research Co Inc raised its stake in Solar Capital by 60.3% in the third quarter. Yorktown Management & Research Co Inc now owns 1,010,000 shares of the financial services provider’s stock valued at $20,725,000 after buying an additional 380,000 shares in the last quarter. Muzinich & Co. Inc. raised its stake in Solar Capital by 43.4% in the third quarter. Muzinich & Co. Inc. now owns 902,226 shares of the financial services provider’s stock valued at $18,514,000 after buying an additional 273,040 shares in the last quarter. State of New Jersey Common Pension Fund D raised its stake in Solar Capital by 21.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 730,000 shares of the financial services provider’s stock valued at $14,980,000 after buying an additional 130,000 shares in the last quarter. Confluence Investment Management LLC raised its stake in Solar Capital by 0.9% in the third quarter. Confluence Investment Management LLC now owns 527,713 shares of the financial services provider’s stock valued at $10,829,000 after buying an additional 4,526 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Solar Capital by 32.4% in the third quarter. Advisors Asset Management Inc. now owns 326,948 shares of the financial services provider’s stock valued at $6,709,000 after buying an additional 79,964 shares in the last quarter. Institutional investors own 59.26% of the company’s stock.
Shares of Solar Capital (NASDAQ:SLRC) traded up 0.111% during mid-day trading on Monday, hitting $22.565. The stock had a trading volume of 63,515 shares. The firm has a market cap of $953.33 million, a PE ratio of 8.926 and a beta of 0.44. Solar Capital has a 52-week low of $17.40 and a 52-week high of $22.88. The firm has a 50 day moving average price of $22.29 and a 200 day moving average price of $21.27.
Solar Capital (NASDAQ:SLRC) last issued its earnings results on Wednesday, February 22nd. The financial services provider reported $0.42 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.42. The firm earned $36.64 million during the quarter, compared to analysts’ expectations of $36.74 million. Solar Capital had a net margin of 50.98% and a return on equity of 7.83%. Equities analysts predict that Solar Capital will post $1.76 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, April 4th. Shareholders of record on Thursday, March 23rd were given a $0.40 dividend. The ex-dividend date was Tuesday, March 21st. This represents a $1.60 annualized dividend and a yield of 7.10%. Solar Capital’s dividend payout ratio is 89.89%.
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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