Monroe Capital Corporation (MRCC) Sets New 52-Week High at $16.10
Monroe Capital Corporation (NASDAQ:MRCC) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.10 and last traded at $15.97, with a volume of 92,428 shares changing hands. The stock had previously closed at $15.91.
A number of equities research analysts recently issued reports on the company. JMP Securities restated a “buy” rating on shares of Monroe Capital Corporation in a research note on Tuesday, August 16th. Raymond James Financial assumed coverage on Monroe Capital Corporation in a research note on Tuesday, August 16th. They issued an “outperform” rating and a $18.50 price objective on the stock. Zacks Investment Research cut Monroe Capital Corporation from a “buy” rating to a “hold” rating in a research note on Friday, August 12th. National Securities restated a “buy” rating and issued a $17.00 price objective on shares of Monroe Capital Corporation in a research note on Wednesday, August 10th. Finally, Ladenburg Thalmann cut Monroe Capital Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 10th. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $16.75.
The firm has a 50-day moving average of $15.71 and a 200-day moving average of $14.37.
Monroe Capital Corporation (NASDAQ:MRCC) last announced its earnings results on Monday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.03. Analysts anticipate that Monroe Capital Corporation will post $1.67 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $1.40 annualized dividend and a yield of 8.80%.
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.