Shares of Solar Capital Ltd. (NASDAQ:SLRC) have earned a consensus rating of “Hold” from the seven analysts that are presently covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $22.38.
SLRC has been the subject of several recent research reports. BidaskClub cut Solar Capital from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 14th. National Securities reiterated a “buy” rating and set a $25.00 price target on shares of Solar Capital in a research report on Wednesday, May 8th. Zacks Investment Research upgraded Solar Capital from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Friday, April 26th. Wells Fargo & Co lifted their price target on Solar Capital from $18.00 to $19.00 and gave the company a “market perform” rating in a research report on Tuesday, February 26th. Finally, Raymond James initiated coverage on Solar Capital in a research report on Tuesday, April 16th. They set an “outperform” rating and a $22.50 price target for the company.
Institutional investors and hedge funds have recently modified their holdings of the business. Premia Global Advisors LLC acquired a new stake in Solar Capital in the first quarter valued at approximately $34,000. PNC Financial Services Group Inc. acquired a new stake in Solar Capital in the first quarter valued at approximately $42,000. Quantamental Technologies LLC acquired a new stake in Solar Capital in the fourth quarter valued at approximately $44,000. Pecaut & CO. acquired a new stake in Solar Capital in the first quarter valued at approximately $221,000. Finally, Acadian Asset Management LLC acquired a new stake in Solar Capital in the fourth quarter valued at approximately $111,000. 58.11% of the stock is currently owned by institutional investors.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $39.26 million during the quarter, compared to analysts’ expectations of $40.30 million. Solar Capital had a return on equity of 8.05% and a net margin of 46.58%. On average, research analysts predict that Solar Capital will post 1.78 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Thursday, June 20th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend is Wednesday, June 19th. Solar Capital’s dividend payout ratio is currently 92.66%.
Solar Capital Company Profile
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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