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 analysts also recently issued reports on SLRC. BidaskClub downgraded Solar Capital from a hold rating to a sell rating in a report on Friday. LADENBURG THALM/SH SH upgraded Solar Capital from a neutral rating to a buy rating and set a $18.00 price objective for the company in a research report on Friday, August 7th. Finally, Wells Fargo & Company upped their price objective on Solar Capital from $16.50 to $17.25 and gave the company an overweight rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company. The company has a consensus rating of Hold and an average target price of $18.59.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings results on Tuesday, August 4th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.01). The business had revenue of $28.63 million for the quarter, compared to the consensus estimate of $30.51 million. Solar Capital had a negative net margin of 7.14% and a positive return on equity of 7.51%. On average, sell-side analysts anticipate that Solar Capital will post 1.41 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Shareholders of record on Thursday, September 17th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 10.40%. The ex-dividend date of this dividend is Wednesday, September 16th. Solar Capital’s payout ratio is 95.91%.
Institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of Solar Capital by 12.6% in the 1st quarter. BlackRock Inc. now owns 226,292 shares of the financial services provider’s stock worth $2,634,000 after purchasing an additional 25,266 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in shares of Solar Capital in the 1st quarter valued at about $162,000. Trexquant Investment LP purchased a new stake in Solar Capital during the 1st quarter worth approximately $471,000. Blair William & Co. IL increased its stake in Solar Capital by 11.2% during the 1st quarter. Blair William & Co. IL now owns 84,480 shares of the financial services provider’s stock worth $983,000 after buying an additional 8,488 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Solar Capital by 98.8% during the 1st quarter. Acadian Asset Management LLC now owns 405,760 shares of the financial services provider’s stock worth $4,719,000 after buying an additional 201,680 shares in the last quarter. Institutional investors and hedge funds own 55.44% of the company’s stock.
Solar Capital Company Profile
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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