Shares of Solar Capital Ltd. (NASDAQ:SLRC) have been given a consensus recommendation of “Buy” by the seven research firms that are presently covering the stock. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $21.83.
A number of research analysts have recently issued reports on the company. National Securities reissued a “buy” rating and issued a $22.00 target price (up previously from $21.00) on shares of Solar Capital in a report on Thursday, August 4th. Deutsche Bank AG boosted their target price on Solar Capital from $23.00 to $23.50 and gave the company a “buy” rating in a report on Thursday, August 4th. Citigroup Inc. boosted their target price on Solar Capital from $17.00 to $20.00 and gave the company a “neutral” rating in a report on Tuesday, August 16th. Zacks Investment Research raised Solar Capital from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Friday, August 5th. Finally, Keefe, Bruyette & Woods set a $21.50 target price on Solar Capital and gave the company a “hold” rating in a report on Wednesday, August 3rd.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Raiff Partners Inc. acquired a new position in shares of Solar Capital during the second quarter worth $191,000. Green Square Capital LLC acquired a new position in shares of Solar Capital during the second quarter worth $198,000. Bbva Compass Bancshares Inc. acquired a new position in shares of Solar Capital during the second quarter worth $204,000. KCG Holdings Inc. raised its position in shares of Solar Capital by 7.4% in the second quarter. KCG Holdings Inc. now owns 11,164 shares of the company’s stock worth $213,000 after buying an additional 770 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Solar Capital during the second quarter worth $218,000. 58.55% of the stock is currently owned by hedge funds and other institutional investors.
Solar Capital (NASDAQ:SLRC) opened at 20.38 on Thursday. The firm has a 50-day moving average price of $20.40 and a 200-day moving average price of $19.10. Solar Capital has a one year low of $15.05 and a one year high of $20.88.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.05. Solar Capital had a return on equity of 7.83% and a net margin of 35.86%. On average, equities analysts forecast that Solar Capital will post $1.74 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Thursday, September 22nd were issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 7.85%. The ex-dividend date of this dividend was Tuesday, September 20th. Solar Capital’s dividend payout ratio is presently 136.75%.
Solar Capital Company Profile
Solar Capital Ltd. is a 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 the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.
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