Monroe Capital Corporation (MRCC) Reaches New 12-Month High at $15.87
Monroe Capital Corporation (NASDAQ:MRCC)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $15.87 and last traded at $15.67, with a volume of 127,927 shares changing hands. The stock had previously closed at $15.27.
Several equities analysts recently issued reports on the company. Zacks Investment Research upgraded Monroe Capital Corporation from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Wednesday, July 6th. Janney Montgomery Scott reiterated a “buy” rating on shares of Monroe Capital Corporation in a research report on Wednesday, April 27th. FBR & Co reiterated a “buy” rating on shares of Monroe Capital Corporation in a research report on Thursday, May 12th. National Securities reiterated a “buy” rating and set a $17.00 target price on shares of Monroe Capital Corporation in a research report on Thursday, May 12th. Finally, JMP Securities boosted their target price on Monroe Capital Corporation from $15.50 to $16.00 and gave the stock a “market outperform” rating in a research report on Thursday, May 12th. Seven investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $16.60.
The company has a 50 day moving average of $14.69 and a 200 day moving average of $13.40. The stock has a market cap of $204.62 million and a price-to-earnings ratio of 8.98.
Monroe Capital Corporation (NASDAQ:MRCC) last issued its quarterly earnings results on Tuesday, May 10th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.39 by $0.05. On average, equities research analysts expect that Monroe Capital Corporation will post $1.69 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, June 30th. Stockholders of record on Wednesday, June 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Monday, June 13th. This represents a $1.40 annualized dividend and a dividend yield of 8.90%.
Monroe Capital Corporation is a closed-end, non-diversified management investment company. The Company is a specialty finance company focused on providing financing primarily to lower middle-market companies in the United States. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation primarily through investments in senior, unitranche and junior secured debt, and unsecured subordinated debt and equity.
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