Solar Capital Ltd. (NASDAQ:SLRC) – DA Davidson cut their Q3 2017 earnings per share estimates for Solar Capital in a report issued on Wednesday. DA Davidson analyst A. Cyganovich now anticipates that the financial services provider will earn $0.41 per share for the quarter, down from their previous forecast of $0.44. DA Davidson also issued estimates for Solar Capital’s FY2017 earnings at $1.63 EPS.

Several other brokerages have also recently weighed in on SLRC. Zacks Investment Research raised shares of Solar Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. BidaskClub cut shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Keefe, Bruyette & Woods set a $23.00 price target on shares of Solar Capital and gave the stock a “hold” rating in a research report on Thursday. National Securities reaffirmed a “buy” rating and issued a $24.00 price target on shares of Solar Capital in a research report on Monday, May 8th. Finally, J P Morgan Chase & Co cut shares of Solar Capital from an “overweight” rating to a “neutral” rating and set a $23.00 price target for the company. in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $22.40.

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Shares of Solar Capital (SLRC) opened at 22.07 on Thursday. The company’s 50 day moving average is $21.84 and its 200 day moving average is $21.96. Solar Capital has a 12 month low of $19.26 and a 12 month high of $22.94.

Solar Capital (NASDAQ:SLRC) last announced its earnings results on Tuesday, August 1st. The financial services provider reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.41 by $0.03. Solar Capital had a net margin of 54.87% and a return on equity of 7.30%. The business had revenue of $33.89 million for the quarter, compared to the consensus estimate of $36.51 million.

A number of large investors have recently bought and sold shares of SLRC. Mckinley Capital Management LLC Delaware boosted its stake in Solar Capital by 18.7% in the first quarter. Mckinley Capital Management LLC Delaware now owns 225,559 shares of the financial services provider’s stock worth $5,100,000 after buying an additional 35,462 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Solar Capital by 0.5% in the first quarter. JPMorgan Chase & Co. now owns 500,548 shares of the financial services provider’s stock worth $11,317,000 after buying an additional 2,580 shares during the last quarter. Oxford Asset Management purchased a new stake in Solar Capital during the first quarter worth approximately $2,016,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Solar Capital during the first quarter worth approximately $104,000. Finally, Eagle Global Advisors LLC purchased a new stake in Solar Capital during the first quarter worth approximately $306,000. 62.68% of the stock is owned by institutional investors.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 3rd. Investors of record on Thursday, September 21st will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Wednesday, September 20th. This represents a $1.60 dividend on an annualized basis and a yield of 7.25%. Solar Capital’s payout ratio is 85.11%.

Solar Capital Company Profile

Solar Capital Ltd. is a closed-end, externally managed, non-diversified 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 privately held the United States middle market companies.

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