Solar Capital Ltd. (NASDAQ:SLRC) has been assigned an average recommendation of “Hold” from the seven ratings firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $23.10.
SLRC has been the topic of several analyst reports. Zacks Investment Research raised shares of Solar Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Keefe, Bruyette & Woods set a $23.00 price target on shares of Solar Capital and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, National Securities reaffirmed a “buy” rating and set a $24.00 price target on shares of Solar Capital in a research report on Monday, August 7th.
Solar Capital (NASDAQ SLRC) traded down 0.82% on Wednesday, reaching $20.63. 144,044 shares of the company were exchanged. The stock has a 50 day moving average of $21.54 and a 200 day moving average of $21.91. Solar Capital has a 12-month low of $19.26 and a 12-month high of $22.94.
Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings results on Tuesday, August 1st. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.03). Solar Capital had a return on equity of 7.30% and a net margin of 54.87%. The firm had revenue of $33.89 million for the quarter, compared to the consensus estimate of $36.51 million. Equities research analysts forecast that Solar Capital will post $1.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 3rd. Shareholders of record on Thursday, September 21st will be issued a $0.40 dividend. The ex-dividend date is Wednesday, September 20th. This represents a $1.60 annualized dividend and a dividend yield of 7.76%. Solar Capital’s dividend payout ratio is currently 85.11%.
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Several large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its holdings in shares of Solar Capital by 0.3% in the second quarter. Royal Bank of Canada now owns 38,320 shares of the financial services provider’s stock valued at $838,000 after purchasing an additional 116 shares during the last quarter. Green Square Capital LLC increased its holdings in shares of Solar Capital by 1.3% in the second quarter. Green Square Capital LLC now owns 16,796 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 212 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of Solar Capital by 0.5% in the first quarter. Citadel Advisors LLC now owns 147,938 shares of the financial services provider’s stock valued at $3,345,000 after purchasing an additional 697 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Solar Capital by 2.4% in the second quarter. Sei Investments Co. now owns 34,100 shares of the financial services provider’s stock valued at $746,000 after purchasing an additional 792 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Solar Capital by 11.7% in the second quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 1,088 shares during the last quarter. Hedge funds and other institutional investors own 62.75% of the company’s stock.
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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