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 stock traded as high as $16.07 and last traded at $15.99, with a volume of 57,759 shares. The stock had previously closed at $15.94.
Several equities research analysts have weighed in on MRCC shares. Zacks Investment Research upgraded Monroe Capital Corporation from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, May 10th. JMP Securities upped their price target 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. National Securities restated a “buy” rating and set a $17.00 price target on shares of Monroe Capital Corporation in a report on Wednesday, July 20th. Raymond James Financial Inc. started coverage on Monroe Capital Corporation in a report on Tuesday, August 16th. They set an “outperform” rating and a $18.50 price target on the stock. Finally, FBR & Co restated a “buy” rating on shares of Monroe Capital Corporation in a report on Wednesday, July 20th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Monroe Capital Corporation currently has a consensus rating of “Buy” and a consensus price target of $16.75.
The stock has a 50-day moving average price of $15.64 and a 200-day moving average price of $14.24.
Monroe Capital Corporation (NASDAQ:MRCC) last issued 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. Equities analysts forecast 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.
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