ValuEngine Downgrades Solar Capital (SLRC) to Sell

ValuEngine downgraded shares of Solar Capital (NASDAQ:SLRC) from a hold rating to a sell rating in a research report released on Monday morning.

A number of other equities research analysts have also recently weighed in on SLRC. BidaskClub upgraded shares of Solar Capital from a strong sell rating to a sell rating in a report on Wednesday, June 20th. Zacks Investment Research cut shares of Solar Capital from a buy rating to a hold rating in a report on Friday, July 27th. National Securities restated a buy rating and issued a $25.00 price objective on shares of Solar Capital in a report on Thursday, August 9th. Finally, Wells Fargo & Co cut shares of Solar Capital from an outperform rating to a market perform rating in a report on Thursday, October 4th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $23.67.

Shares of SLRC opened at $20.69 on Monday. The stock has a market capitalization of $903.54 million, a price-to-earnings ratio of 12.77, a price-to-earnings-growth ratio of 2.38 and a beta of 0.67. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 0.98. Solar Capital has a fifty-two week low of $19.70 and a fifty-two week high of $22.55.

Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings data on Monday, August 6th. The financial services provider reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.01). The business had revenue of $39.19 million during the quarter, compared to analysts’ expectations of $38.17 million. Solar Capital had a return on equity of 8.01% and a net margin of 48.51%. As a group, equities analysts predict that Solar Capital will post 1.8 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 2nd. Stockholders of record on Thursday, September 20th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.93%. The ex-dividend date of this dividend was Wednesday, September 19th. Solar Capital’s payout ratio is 101.23%.

Large investors have recently bought and sold shares of the company. FDx Advisors Inc. purchased a new stake in shares of Solar Capital during the second quarter valued at approximately $207,000. Great West Life Assurance Co. Can purchased a new stake in shares of Solar Capital during the first quarter valued at approximately $228,000. Texas Yale Capital Corp. purchased a new stake in shares of Solar Capital during the second quarter valued at approximately $276,000. California Public Employees Retirement System purchased a new stake in shares of Solar Capital during the second quarter valued at approximately $356,000. Finally, Neville Rodie & Shaw Inc. purchased a new stake in shares of Solar Capital during the second quarter valued at approximately $991,000. Hedge funds and other institutional investors own 60.60% of the company’s stock.

Solar Capital Company Profile

Solar Capital Ltd is a business development company that seeks investment opportunities in middle market companies located in the US. The fund targets companies operating in the fields of aerospace & defense, automobile, banking, beverage, food & tobacco, buildings & real estate, broadcasting & entertainment, cargo transport, chemicals, plastics & rubber, containers, packaging & glass, diversified or conglomerate manufacturing, diversified financial services, electronics, farming & agriculture, finance, grocery, healthcare, education & childcare, home, office furnishings & durable consumer products, hotels, motels, inns & gaming, insurance, IT services, leisure, amusement & entertainment, machinery, mining, steel, iron & non-precious metals, personal & nondurable consumer products, personal, food &services, personal transportation, professional services, retail stores, software, telecommunications, textiles and leather, and utilities.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Solar Capital (NASDAQ:SLRC)

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