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. “
Several other equities analysts have also issued reports on SLRC. BidaskClub upgraded Solar Capital from a sell rating to a hold rating in a research report on Friday, August 2nd. National Securities restated a buy rating and set a $25.00 price target on shares of Solar Capital in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average target price of $22.70.
Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.44. Solar Capital had a return on equity of 7.97% and a net margin of 46.63%. The business had revenue of $38.68 million for the quarter, compared to analyst estimates of $40.38 million. As a group, analysts predict that Solar Capital will post 1.77 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Thursday, September 19th will be given a dividend of $0.41 per share. The ex-dividend date is Wednesday, September 18th. This represents a $1.64 annualized dividend and a yield of 8.05%. Solar Capital’s payout ratio is 92.66%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intrinsic Edge Capital Management LLC increased its holdings in shares of Solar Capital by 93.3% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 77,326 shares of the financial services provider’s stock worth $1,588,000 after purchasing an additional 37,326 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Solar Capital by 16.2% in the second quarter. Royal Bank of Canada now owns 101,435 shares of the financial services provider’s stock worth $2,083,000 after acquiring an additional 14,112 shares during the period. Ladenburg Thalmann Financial Services Inc. grew its holdings in shares of Solar Capital by 1.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 37,863 shares of the financial services provider’s stock worth $777,000 after acquiring an additional 656 shares during the period. United Services Automobile Association grew its holdings in shares of Solar Capital by 2.9% in the second quarter. United Services Automobile Association now owns 323,638 shares of the financial services provider’s stock worth $6,644,000 after acquiring an additional 9,010 shares during the period. Finally, Summit Global Investments grew its holdings in shares of Solar Capital by 6.6% in the second quarter. Summit Global Investments now owns 37,100 shares of the financial services provider’s stock worth $762,000 after acquiring an additional 2,300 shares during the period. Institutional investors and hedge funds own 58.25% of the company’s stock.
About Solar Capital
Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.
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