Solar Capital (SLRC) Upgraded to Outperform by JMP Securities

Solar Capital (NASDAQ:SLRC) was upgraded by investment analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research report issued on Tuesday, The Fly reports.

A number of other research analysts have also recently weighed in on SLRC. Zacks Investment Research cut shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 4th. National Securities boosted their target price on shares of Solar Capital from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Ladenburg Thalmann Financial Services raised shares of Solar Capital from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. BidaskClub cut shares of Solar Capital from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. Finally, Keefe, Bruyette & Woods raised shares of Solar Capital from a “market perform” rating to an “outperform” rating and set a $23.00 target price on the stock in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Solar Capital presently has a consensus rating of “Hold” and a consensus price target of $23.67.

Solar Capital (NASDAQ:SLRC) opened at $20.89 on Tuesday. The firm has a market cap of $882.83, a P/E ratio of 12.43, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.01 and a current ratio of 1.01. Solar Capital has a 12-month low of $19.90 and a 12-month high of $22.94.

Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings results on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). The business had revenue of $36.15 million for the quarter, compared to analyst estimates of $35.95 million. Solar Capital had a net margin of 50.29% and a return on equity of 7.32%. equities research analysts predict that Solar Capital will post 1.6 EPS for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Global X MANAGEMENT CO LLC raised its holdings in Solar Capital by 49.3% in the third quarter. Global X MANAGEMENT CO LLC now owns 9,024 shares of the financial services provider’s stock valued at $195,000 after acquiring an additional 2,981 shares in the last quarter. Macquarie Group Ltd. acquired a new stake in Solar Capital in the third quarter valued at $210,000. Russell Investments Group Ltd. acquired a new stake in Solar Capital in the second quarter valued at $217,000. Northern Trust Corp raised its holdings in 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 acquiring an additional 1,088 shares in the last quarter. Finally, California Public Employees Retirement System acquired a new stake in Solar Capital in the third quarter valued at $254,000. 63.08% of the stock is currently owned by hedge funds and other institutional investors.

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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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