Monroe Capital Corporation (MRCC) Shares Up 1.8%
Shares of Monroe Capital Corporation (NASDAQ:MRCC) shot up 1.8% on Tuesday . The stock traded as high as $15.50 and last traded at $15.45, with a volume of 89,515 shares trading hands. The stock had previously closed at $15.18.
Several brokerages have recently issued reports on MRCC. Zacks Investment Research raised shares of Monroe Capital Corporation from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Wednesday, July 6th. Janney Montgomery Scott reissued a “buy” rating on shares of Monroe Capital Corporation in a report on Wednesday, April 27th. FBR & Co reissued a “buy” rating on shares of Monroe Capital Corporation in a report on Thursday, May 12th. National Securities reissued a “buy” rating and set a $17.00 price target on shares of Monroe Capital Corporation in a report on Thursday, May 12th. Finally, Wunderlich boosted 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. Seven equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Monroe Capital Corporation currently has an average rating of “Buy” and a consensus target price of $16.40.
The firm has a 50 day moving average of $14.99 and a 200-day moving average of $13.64.
Monroe Capital Corporation (NASDAQ:MRCC) last posted its quarterly earnings data on Tuesday, May 10th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.05. Analysts anticipate that Monroe Capital Corporation will post $1.70 EPS for the current fiscal year.
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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