According to Zacks, “Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged companies, including middle market companies, in the form of senior secured loans, mezzanine loans, and equity securities. “
Separately, BidaskClub cut Solar Capital from a hold rating to a sell rating in a research report on Saturday, September 7th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. Solar Capital currently has a consensus rating of Hold and an average price target of $22.70.
Solar Capital (NASDAQ:SLRC) last released its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. The firm had revenue of $38.68 million during the quarter, compared to analysts’ expectations of $40.38 million. Solar Capital had a return on equity of 7.97% and a net margin of 46.63%. On average, analysts predict that Solar Capital will post 1.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Shareholders of record on Thursday, September 19th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 7.84%. The ex-dividend date of this dividend is Wednesday, September 18th. Solar Capital’s payout ratio is 92.66%.
A number of large investors have recently added to or reduced their stakes in SLRC. AJO LP purchased a new position in Solar Capital in the first quarter worth $4,775,000. Marshall Wace LLP purchased a new position in shares of Solar Capital in the first quarter valued at $4,414,000. Virtus ETF Advisers LLC purchased a new position in shares of Solar Capital in the second quarter valued at $2,745,000. Acadian Asset Management LLC increased its position in shares of Solar Capital by 1,727.6% in the first quarter. Acadian Asset Management LLC now owns 106,017 shares of the financial services provider’s stock valued at $2,208,000 after buying an additional 100,216 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Solar Capital by 9.6% in the first quarter. JPMorgan Chase & Co. now owns 938,895 shares of the financial services provider’s stock valued at $19,567,000 after buying an additional 81,851 shares in the last quarter. Hedge funds and other institutional investors own 57.86% of the company’s stock.
About Solar Capital
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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