Brokerages Set Solar Capital Ltd. (SLRC) Target Price at $23.35
Shares of Solar Capital Ltd. (NASDAQ:SLRC) have received an average rating of “Hold” from the seven research firms that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $23.35.
A number of equities analysts have recently commented on the stock. National Securities reiterated a “buy” rating and set a $25.00 price target on shares of Solar Capital in a report on Wednesday. Zacks Investment Research lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, Ladenburg Thalmann Financial Services upgraded shares of Solar Capital from a “neutral” rating to a “buy” rating in a report on Monday, November 6th.
Several large investors have recently modified their holdings of the company. Muzinich & Co. Inc. lifted its holdings in shares of Solar Capital by 20.7% during the second quarter. Muzinich & Co. Inc. now owns 1,888,476 shares of the financial services provider’s stock worth $41,301,000 after purchasing an additional 323,733 shares during the period. JPMorgan Chase & Co. raised its stake in Solar Capital by 3.0% during the third quarter. JPMorgan Chase & Co. now owns 520,778 shares of the financial services provider’s stock worth $11,259,000 after buying an additional 15,314 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its stake in Solar Capital by 7.4% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 434,100 shares of the financial services provider’s stock worth $9,393,000 after buying an additional 29,985 shares during the last quarter. Eagle Boston Investment Management Inc. raised its stake in Solar Capital by 20.0% during the third quarter. Eagle Boston Investment Management Inc. now owns 426,322 shares of the financial services provider’s stock worth $9,191,000 after buying an additional 71,041 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Solar Capital by 18.9% during the second quarter. Advisors Asset Management Inc. now owns 375,783 shares of the financial services provider’s stock worth $8,218,000 after buying an additional 59,621 shares during the last quarter. Institutional investors own 62.90% of the company’s stock.
Shares of Solar Capital (NASDAQ:SLRC) traded down $0.07 during trading on Monday, reaching $21.31. 255,456 shares of the company’s stock were exchanged, compared to its average volume of 108,993. Solar Capital has a 1 year low of $20.17 and a 1 year high of $22.94. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $903.54, a price-to-earnings ratio of 13.36, a P/E/G ratio of 2.67 and a beta of 0.54.
Solar Capital (NASDAQ:SLRC) last issued its earnings results on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Solar Capital had a net margin of 50.29% and a return on equity of 7.32%. The company had revenue of $36.15 million during the quarter, compared to analyst estimates of $35.95 million. research analysts expect that Solar Capital will post 1.6 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 22nd will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.70%. The ex-dividend date of this dividend is Wednesday, March 21st. This is a positive change from Solar Capital’s previous quarterly dividend of $0.40. Solar Capital’s payout ratio is 95.24%.
WARNING: “Brokerages Set Solar Capital Ltd. (SLRC) Target Price at $23.35” was first posted by Daily Political and is owned by of Daily Political. If you are reading this piece on another publication, it was copied illegally and reposted in violation of U.S. & international copyright & trademark law. The original version of this piece can be viewed at https://www.dailypolitical.com/2017/12/02/brokerages-set-solar-capital-ltd-slrc-target-price-at-23-35.html.
About Solar Capital
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.
Receive News & Ratings for Solar Capital Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solar Capital Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.