Monroe Capital Corporation (MRCC) Reaches New 52-Week High at $15.99
Monroe Capital Corporation (NASDAQ:MRCC)’s share price hit a new 52-week high on Monday . The stock traded as high as $15.99 and last traded at $15.84, with a volume of 55,214 shares trading hands. The stock had previously closed at $15.93.
MRCC has been the subject of several recent analyst reports. National Securities restated a “buy” rating and issued a $17.00 price target on shares of Monroe Capital Corporation in a research note on Thursday, May 12th. Raymond James Financial Inc. started coverage on Monroe Capital Corporation in a report on Tuesday, August 16th. They issued an “outperform” rating and a $18.50 price objective on the stock. JMP Securities lifted their price objective on Monroe Capital Corporation from $15.50 to $16.00 and gave the stock a “market outperform” rating in a report on Thursday, May 12th. Zacks Investment Research upgraded Monroe Capital Corporation from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Wednesday, July 6th. Finally, Ladenburg Thalmann cut Monroe Capital Corporation from a “buy” rating to a “neutral” rating in a report on Wednesday, August 10th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $16.75.
The firm has a 50-day moving average of $15.50 and a 200 day moving average of $14.00.
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, topping the consensus estimate of $0.40 by $0.03. On average, analysts expect that Monroe Capital Corporation will post $1.67 earnings per share for the current 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.