Brokerages Set Solar Capital Ltd. (NASDAQ:SLRC) PT at $21.83
Shares of Solar Capital Ltd. (NASDAQ:SLRC) have received an average rating of “Buy” from the seven brokerages that are covering the company. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $21.83.
Several equities analysts recently weighed in on the stock. National Securities reiterated a “buy” rating and issued a $22.00 price target (up previously from $21.00) on shares of Solar Capital in a report on Thursday, August 4th. Deutsche Bank AG increased their price target on shares of Solar Capital from $23.00 to $23.50 and gave the stock a “buy” rating in a report on Thursday, August 4th. Citigroup Inc. increased their price target on shares of Solar Capital from $17.00 to $20.00 and gave the stock a “neutral” rating in a report on Tuesday, August 16th. Zacks Investment Research upgraded shares of Solar Capital from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Friday, August 5th. Finally, Keefe, Bruyette & Woods set a $21.50 price target on shares of Solar Capital and gave the stock a “hold” rating in a report on Wednesday, August 3rd.
Large investors have recently added to or reduced their stakes in the company. Muzinich & Co. Inc. raised its stake in Solar Capital by 8.0% in the second quarter. Muzinich & Co. Inc. now owns 629,186 shares of the company’s stock valued at $11,986,000 after buying an additional 46,440 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of Solar Capital by 1.8% in the second quarter. Confluence Investment Management LLC now owns 523,187 shares of the company’s stock worth $9,967,000 after buying an additional 9,350 shares during the period. Green Square Capital LLC acquired a new position in shares of Solar Capital during the second quarter worth about $198,000. Bank of Montreal Can acquired a new position in shares of Solar Capital during the second quarter worth about $4,534,000. Finally, Sanders Morris Harris Inc. raised its position in shares of Solar Capital by 0.8% in the second quarter. Sanders Morris Harris Inc. now owns 56,646 shares of the company’s stock worth $1,079,000 after buying an additional 423 shares during the period. Institutional investors and hedge funds own 58.55% of the company’s stock.
Shares of Solar Capital (NASDAQ:SLRC) opened at 20.38 on Thursday. The stock’s 50 day moving average is $20.40 and its 200 day moving average is $19.10. Solar Capital has a 52-week low of $15.05 and a 52-week high of $20.88.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.05. Solar Capital had a net margin of 35.86% and a return on equity of 7.83%. Analysts expect that Solar Capital will post $1.74 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Thursday, September 22nd were given a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, September 20th. This represents a $1.60 annualized dividend and a yield of 7.85%. Solar Capital’s dividend payout ratio is presently 136.75%.
Solar Capital Company Profile
Solar Capital Ltd. is a 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 the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.
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