Monroe Capital Corporation (NASDAQ:MRCC) Receives $16.63 Average PT from Analysts
Monroe Capital Corporation (NASDAQ:MRCC) has received an average recommendation of “Buy” from the ten brokerages that are covering the company. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $16.63.
A number of research firms recently commented on MRCC. Zacks Investment Research upgraded Monroe Capital Corporation from a “hold” rating to a “strong-buy” rating and set a $18.00 price target for the company in a research note on Thursday, July 14th. FBR & Co restated a “buy” rating on shares of Monroe Capital Corporation in a research note on Wednesday, July 20th. JMP Securities restated a “buy” rating on shares of Monroe Capital Corporation in a research note on Tuesday, August 16th. Ladenburg Thalmann downgraded Monroe Capital Corporation from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 10th. Finally, Wunderlich lifted their target price on Monroe Capital Corporation from $15.50 to $16.00 and gave the company a “buy” rating in a research note on Thursday, July 21st.
Shares of Monroe Capital Corporation (NASDAQ:MRCC) opened at 15.73 on Friday. Monroe Capital Corporation has a 12-month low of $10.02 and a 12-month high of $16.37. The company has a 50 day moving average price of $15.68 and a 200-day moving average price of $14.73.
Monroe Capital Corporation (NASDAQ:MRCC) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.43 EPS for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.03. Monroe Capital Corporation had a return on equity of 11.36% and a net margin of 52.85%. Equities research analysts forecast that Monroe Capital Corporation will post $1.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Thursday, September 15th were issued a dividend of $0.35 per share. The ex-dividend date was Tuesday, September 13th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.90%. Monroe Capital Corporation’s dividend payout ratio (DPR) is presently 80.92%.
Several large investors have recently added to or reduced their stakes in the stock. BlackRock Group LTD acquired a new stake in Monroe Capital Corporation during the first quarter worth $834,000. UBS Group AG boosted its stake in Monroe Capital Corporation by 2.0% in the first quarter. UBS Group AG now owns 239,088 shares of the company’s stock worth $3,311,000 after buying an additional 4,641 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Monroe Capital Corporation by 3.5% in the second quarter. Oppenheimer & Co. Inc. now owns 30,780 shares of the company’s stock worth $456,000 after buying an additional 1,035 shares during the period. Mckinley Capital Management LLC Delaware boosted its stake in Monroe Capital Corporation by 15.6% in the second quarter. Mckinley Capital Management LLC Delaware now owns 66,058 shares of the company’s stock worth $980,000 after buying an additional 8,917 shares during the period. Finally, Geneva Advisors LLC boosted its stake in Monroe Capital Corporation by 17.9% in the second quarter. Geneva Advisors LLC now owns 53,720 shares of the company’s stock worth $797,000 after buying an additional 8,160 shares during the period. 22.63% of the stock is currently owned by institutional investors.
About Monroe Capital Corporation
Monroe Capital Corporation is a closed-end, non-diversified management investment company. The Company is a specialty finance company focused on providing financing primarily to lower middle-market companies in the United States. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation primarily through investments in senior, unitranche and junior secured debt, and unsecured subordinated debt and equity.
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