Solar Capital Ltd. (SLRC) Rating Lowered to Hold at Zacks Investment Research
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. “
Several other research firms have also commented on SLRC. National Securities reiterated a buy rating and issued a $22.00 target price (up from $21.00) on shares of Solar Capital in a research note on Thursday, August 4th. Deutsche Bank AG boosted their price target on Solar Capital from $23.00 to $23.50 and gave the company a buy rating in a research report on Thursday, August 4th. Citigroup Inc. boosted their price target on Solar Capital from $17.00 to $20.00 and gave the company a neutral rating in a research report on Tuesday, August 16th. Finally, Keefe, Bruyette & Woods set a $21.50 price target on Solar Capital and gave the company a hold rating in a research report on Wednesday, August 3rd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $21.83.
Shares of Solar Capital (NASDAQ:SLRC) opened at 19.97 on Wednesday. Solar Capital has a 12 month low of $15.05 and a 12 month high of $20.88. The stock’s 50 day moving average price is $20.41 and its 200 day moving average price is $19.25.
Solar Capital (NASDAQ:SLRC) last released its earnings results on Tuesday, August 2nd. The company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.41 by $0.05. Solar Capital had a return on equity of 7.83% and a net margin of 35.86%. Equities research analysts anticipate that Solar Capital will post $1.74 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Thursday, September 22nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 8.01%. The ex-dividend date of this dividend was Tuesday, September 20th. Solar Capital’s payout ratio is 136.75%.
Large investors have recently modified their holdings of the company. Raiff Partners Inc. bought a new stake in shares of Solar Capital during the second quarter valued at $191,000. Green Square Capital LLC bought a new stake in shares of Solar Capital during the second quarter valued at $198,000. Bbva Compass Bancshares Inc. bought a new stake in shares of Solar Capital during the second quarter valued at $204,000. KCG Holdings Inc. increased its stake in shares of Solar Capital by 7.4% in the second quarter. KCG Holdings Inc. now owns 11,164 shares of the company’s stock valued at $213,000 after buying an additional 770 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Solar Capital during the second quarter valued at $218,000. 58.54% of the stock is owned by institutional investors.
Solar Capital Company Profile
Solar Capital Ltd. is a management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.
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