Solar Capital Ltd. (NASDAQ:SLRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

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. “

Other equities research analysts also recently issued reports about the stock. National Securities reissued a “buy” rating and issued a $22.00 price objective (up from $21.00) on shares of Solar Capital in a research report on Thursday, August 4th. Deutsche Bank AG increased their target price on shares of Solar Capital from $23.00 to $23.50 and gave the company a “buy” rating in a research report on Thursday, August 4th. Keefe, Bruyette & Woods set a $21.50 target price on shares of Solar Capital and gave the company a “hold” rating in a research report on Wednesday, August 3rd. Finally, Citigroup Inc. increased their target price on shares of Solar Capital from $17.00 to $20.00 and gave the company a “neutral” rating in a research report on Tuesday, August 16th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $21.83.

Analyst Recommendations for Solar Capital (NASDAQ:SLRC)

Solar Capital (NASDAQ:SLRC) opened at 20.42 on Wednesday. Solar Capital has a 52-week low of $15.05 and a 52-week high of $20.88. The company’s 50-day moving average is $20.42 and its 200-day moving average is $19.16.

Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.46 EPS for the quarter, beating the Zacks’ 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%. On average, equities research analysts forecast that Solar Capital will post $1.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Thursday, September 22nd were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 7.84%. The ex-dividend date was Tuesday, September 20th. Solar Capital’s dividend payout ratio (DPR) is presently 136.75%.

Several hedge funds have recently added to or reduced their stakes in the company. Muzinich & Co. Inc. boosted 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 during the period. Aristotle Capital Boston LLC boosted its stake in Solar Capital by 3.1% in the second quarter. Aristotle Capital Boston LLC now owns 220,591 shares of the company’s stock valued at $4,202,000 after buying an additional 6,625 shares during the period. JPMorgan Chase & Co. boosted its stake in Solar Capital by 12.2% in the first quarter. JPMorgan Chase & Co. now owns 404,499 shares of the company’s stock valued at $6,989,000 after buying an additional 43,938 shares during the period. BlackRock Group LTD boosted its stake in Solar Capital by 7.0% in the first quarter. BlackRock Group LTD now owns 167,007 shares of the company’s stock valued at $2,886,000 after buying an additional 10,941 shares during the period. Finally, Commonwealth Equity Services Inc boosted its stake in Solar Capital by 1.0% in the first quarter. Commonwealth Equity Services Inc now owns 15,099 shares of the company’s stock valued at $261,000 after buying an additional 145 shares during the period. Institutional investors own 58.55% of the company’s stock.

About Solar Capital

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.

5 Day Chart for NASDAQ:SLRC

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