Q3 2017 EPS Estimates for Solar Senior Capital Ltd. Reduced by Oppenheimer Holdings (NASDAQ:SUNS)
Solar Senior Capital Ltd. (NASDAQ:SUNS) – Equities researchers at Oppenheimer Holdings dropped their Q3 2017 earnings per share estimates for Solar Senior Capital in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst C. Kotowski now forecasts that the asset manager will earn $0.32 per share for the quarter, down from their prior estimate of $0.34. Oppenheimer Holdings also issued estimates for Solar Senior Capital’s Q4 2017 earnings at $0.32 EPS, FY2017 earnings at $1.34 EPS, Q1 2018 earnings at $0.33 EPS, Q2 2018 earnings at $0.34 EPS, Q3 2018 earnings at $0.35 EPS, Q4 2018 earnings at $0.36 EPS and FY2018 earnings at $1.38 EPS.
Solar Senior Capital (NASDAQ:SUNS) last issued its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.35. Solar Senior Capital had a return on equity of 7.98% and a net margin of 76.07%. The company had revenue of $7.66 million during the quarter, compared to analysts’ expectations of $8.24 million.
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Several other brokerages have also issued reports on SUNS. Zacks Investment Research lowered Solar Senior Capital from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Maxim Group reaffirmed a “buy” rating and set a $18.50 price objective on shares of Solar Senior Capital in a report on Wednesday, May 3rd. Finally, BidaskClub lowered Solar Senior Capital from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $17.88.
Shares of Solar Senior Capital (SUNS) opened at 17.13 on Friday. The firm’s 50-day moving average price is $17.16 and its 200-day moving average price is $17.41. Solar Senior Capital has a 12 month low of $15.06 and a 12 month high of $18.46.
The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.117 per share. This represents a $1.40 annualized dividend and a dividend yield of 8.20%. The ex-dividend date of this dividend is Tuesday, August 15th. Solar Senior Capital’s payout ratio is 94.63%.
Several institutional investors have recently modified their holdings of the company. Ares Management LLC raised its position in shares of Solar Senior Capital by 3.2% in the first quarter. Ares Management LLC now owns 275,284 shares of the asset manager’s stock valued at $4,950,000 after buying an additional 8,500 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Solar Senior Capital by 67.4% in the first quarter. Mackenzie Financial Corp now owns 27,836 shares of the asset manager’s stock valued at $500,000 after buying an additional 11,209 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Solar Senior Capital by 12.5% in the first quarter. Wellington Management Group LLP now owns 160,272 shares of the asset manager’s stock valued at $2,882,000 after buying an additional 17,840 shares during the last quarter. AXA purchased a new position in shares of Solar Senior Capital during the first quarter valued at about $728,000. Finally, Muzinich & Co. Inc. raised its position in shares of Solar Senior Capital by 122.9% in the first quarter. Muzinich & Co. Inc. now owns 565,539 shares of the asset manager’s stock valued at $10,168,000 after buying an additional 311,852 shares during the last quarter. 32.61% of the stock is currently owned by institutional investors.
About Solar Senior Capital
Solar Senior Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to seek to maximize current income consistent with the preservation of capital. The Company seeks to achieve its investment objective by directly and indirectly investing in senior loans, including first lien, unitranche, and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade, which it refers to collectively as senior loans.
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