Monroe Capital Corporation (MRCC) Reaches New 1-Year High at $16.07
Monroe Capital Corporation (NASDAQ:MRCC) hit a new 52-week high on Tuesday . The company traded as high as $16.07 and last traded at $15.99, with a volume of 57,759 shares changing hands. The stock had previously closed at $15.94.
A number of equities research analysts have weighed in on the stock. FBR & Co reissued a “buy” rating on shares of Monroe Capital Corporation in a report on Wednesday, July 20th. National Securities reissued a “buy” rating and issued a $17.00 price target on shares of Monroe Capital Corporation in a report on Wednesday, August 10th. Zacks Investment Research raised shares of Monroe Capital Corporation from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, May 10th. Wunderlich upped their price target on shares of Monroe Capital Corporation from $15.50 to $16.00 and gave the company a “buy” rating in a report on Thursday, July 21st. Finally, Ladenburg Thalmann downgraded shares of Monroe Capital Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, August 10th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $16.75.
The company’s 50 day moving average price is $15.68 and its 200-day moving average price is $14.29.
Monroe Capital Corporation (NASDAQ:MRCC) last announced its earnings results on Monday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. On average, equities analysts forecast that Monroe Capital Corporation will post $1.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Thursday, September 15th will be paid a $0.35 dividend. The ex-dividend date is Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.75%.
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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