Somewhat Favorable News Coverage Somewhat Unlikely to Impact Monroe Capital Corporation (MRCC) Share Price
News articles about Monroe Capital Corporation (NASDAQ:MRCC) have trended somewhat positive on Wednesday, Accern reports. Accern ranks the sentiment of news coverage by reviewing more than 20 million blog and news sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Monroe Capital Corporation earned a news sentiment score of 0.10 on Accern’s scale. Accern also assigned headlines about the financial services provider an impact score of 45.1266846298321 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.
Monroe Capital Corporation (NASDAQ:MRCC) opened at 13.50 on Wednesday. Monroe Capital Corporation has a 1-year low of $13.32 and a 1-year high of $16.20. The company has a 50 day moving average of $14.00 and a 200 day moving average of $15.10.
Monroe Capital Corporation (NASDAQ:MRCC) last released its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). The company had revenue of $12.27 million during the quarter, compared to analysts’ expectations of $12.40 million. Monroe Capital Corporation had a net margin of 31.60% and a return on equity of 9.39%. On average, analysts anticipate that Monroe Capital Corporation will post $1.40 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 10.37%. The ex-dividend date is Thursday, September 14th. Monroe Capital Corporation’s payout ratio is currently 157.31%.
Several equities analysts have recently weighed in on MRCC shares. National Securities reaffirmed a “buy” rating and set a $17.00 price target on shares of Monroe Capital Corporation in a research note on Monday, August 14th. Ladenburg Thalmann Financial Services raised shares of Monroe Capital Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price target for the company in a research note on Thursday, August 10th. TheStreet cut shares of Monroe Capital Corporation from a “b” rating to a “c+” rating in a research note on Friday, August 25th. Zacks Investment Research raised shares of Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, BidaskClub raised shares of Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $16.50.
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In related news, Chairman Theodore L. Koenig purchased 21,800 shares of the stock in a transaction that occurred on Thursday, September 7th. The stock was acquired at an average cost of $13.61 per share, with a total value of $296,698.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.90% of the company’s stock.
About Monroe Capital Corporation
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 and Canada. 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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