Solar Capital (SLRC) Raised to “Hold” at Zacks Investment Research
Zacks Investment Research upgraded shares of Solar Capital (NASDAQ:SLRC) from a sell rating to a hold rating in a report published on Wednesday.
According to Zacks, “Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged companies, including middle market companies, in the form of senior secured loans, mezzanine loans, and equity securities. “
A number of other research firms also recently commented on SLRC. Ladenburg Thalmann Financial Services upgraded shares of Solar Capital from a neutral rating to a buy rating in a research report on Monday, November 6th. National Securities reiterated a buy rating and issued a $25.00 target price on shares of Solar Capital in a report on Monday, February 26th. BidaskClub downgraded shares of Solar Capital from a sell rating to a strong sell rating in a report on Thursday, December 7th. JMP Securities upgraded shares of Solar Capital from a market perform rating to an outperform rating in a report on Tuesday, January 16th. Finally, Keefe, Bruyette & Woods upgraded shares of Solar Capital from a market perform rating to an outperform rating and set a $23.00 target price on the stock in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $23.67.
Solar Capital (NASDAQ:SLRC) last released its quarterly earnings results on Thursday, February 22nd. The financial services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.02. Solar Capital had a net margin of 49.14% and a return on equity of 7.43%. The company had revenue of $38.91 million for the quarter, compared to the consensus estimate of $37.65 million. sell-side analysts anticipate that Solar Capital will post 1.77 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Global X MANAGEMENT CO LLC raised its holdings in shares of Solar Capital by 49.3% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 9,024 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 2,981 shares in the last quarter. Macquarie Group Ltd. bought a new stake in shares of Solar Capital in the 3rd quarter worth approximately $210,000. Northern Trust Corp raised its holdings in shares of Solar Capital by 11.7% in the 2nd quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock worth $228,000 after purchasing an additional 1,088 shares in the last quarter. FDx Advisors Inc. bought a new stake in shares of Solar Capital in the 4th quarter worth approximately $212,000. Finally, California Public Employees Retirement System bought a new stake in shares of Solar Capital in the 3rd quarter worth approximately $254,000. Institutional investors and hedge funds own 60.85% of the company’s stock.
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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.
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