BidaskClub cut shares of Solar Capital (NASDAQ:SLRC) from a strong-buy rating to a buy rating in a report published on Monday, February 4th.
Several other equities analysts also recently commented on SLRC. Zacks Investment Research downgraded shares of Solar Capital from a hold rating to a sell rating in a research note on Thursday, December 20th. Oppenheimer started coverage on shares of Solar Capital in a research note on Wednesday, November 28th. They set a buy rating and a $23.00 price objective on the stock. Finally, National Securities reiterated a buy rating and set a $25.00 price objective on shares of Solar Capital in a research note on Tuesday, November 6th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $22.50.
Shares of SLRC opened at $21.35 on Monday. The stock has a market capitalization of $904.39 million, a PE ratio of 12.06, a P/E/G ratio of 2.40 and a beta of 0.71. Solar Capital has a fifty-two week low of $18.45 and a fifty-two week high of $22.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.01 and a current ratio of 1.01.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Thursday, February 21st. The financial services provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. Solar Capital had a net margin of 43.56% and a return on equity of 8.09%. The company had revenue of $38.24 million for the quarter, compared to analyst estimates of $37.46 million. Equities research analysts anticipate that Solar Capital will post 1.79 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 3rd. Stockholders of record on Thursday, March 21st will be issued a $0.41 dividend. The ex-dividend date is Wednesday, March 20th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.68%. Solar Capital’s dividend payout ratio (DPR) is currently 92.66%.
In related news, Director Steven Hochberg bought 5,000 shares of the company’s stock in a transaction dated Friday, December 14th. The stock was purchased at an average price of $20.35 per share, with a total value of $101,750.00. Following the completion of the acquisition, the director now owns 25,000 shares of the company’s stock, valued at $508,750. The purchase was disclosed in a document filed with the SEC, which is available through this link. 5.90% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SLRC. Founders Capital Management bought a new position in Solar Capital in the 4th quarter valued at approximately $29,000. Quantamental Technologies LLC bought a new position in Solar Capital during the 4th quarter worth approximately $44,000. Acadian Asset Management LLC bought a new position in Solar Capital during the 4th quarter worth approximately $111,000. Northern Trust Corp raised its holdings in Solar Capital by 6.3% during the 4th quarter. Northern Trust Corp now owns 10,566 shares of the financial services provider’s stock worth $202,000 after purchasing an additional 624 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its holdings in Solar Capital by 13.3% during the 4th quarter. Great West Life Assurance Co. Can now owns 11,516 shares of the financial services provider’s stock worth $214,000 after purchasing an additional 1,355 shares during the last quarter. Institutional investors and hedge funds own 58.62% 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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