$13.36 Million in Sales Expected for Monroe Capital Corporation (MRCC) This Quarter
Analysts expect that Monroe Capital Corporation (NASDAQ:MRCC) will announce sales of $13.36 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Monroe Capital Corporation’s earnings, with the lowest sales estimate coming in at $12.95 million and the highest estimate coming in at $13.77 million. Monroe Capital Corporation reported sales of $11.13 million during the same quarter last year, which indicates a positive year-over-year growth rate of 20%. The business is expected to report its next quarterly earnings report on Monday, November 6th.
On average, analysts expect that Monroe Capital Corporation will report full year sales of $13.36 million for the current financial year, with estimates ranging from $50.91 million to $53.07 million. For the next year, analysts expect that the business will report sales of $64.18 million per share, with estimates ranging from $58.50 million to $71.30 million. Zacks’ sales calculations are an average based on a survey of research firms that that provide coverage for Monroe Capital Corporation.
Monroe Capital Corporation (NASDAQ:MRCC) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by ($0.01). The company had revenue of $12.27 million during the quarter, compared to analysts’ expectations of $12.40 million. Monroe Capital Corporation had a net margin of 31.60% and a return on equity of 9.39%.
A number of equities analysts recently commented on MRCC shares. National Securities reaffirmed a “buy” rating and issued a $17.00 target price on shares of Monroe Capital Corporation in a report on Monday, August 14th. Ladenburg Thalmann Financial Services raised Monroe Capital Corporation from a “neutral” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, August 10th. TheStreet cut Monroe Capital Corporation from a “b” rating to a “c+” rating in a report on Friday, August 25th. Zacks Investment Research raised Monroe Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 15th. Finally, BidaskClub raised Monroe Capital Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $16.50.
In other Monroe Capital Corporation news, Chairman Theodore L. Koenig purchased 21,800 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were acquired at an average cost of $13.61 per share, with a total value of $296,698.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.80% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of MRCC. Wells Fargo & Company MN raised its holdings in Monroe Capital Corporation by 41.7% during the first quarter. Wells Fargo & Company MN now owns 17,000 shares of the financial services provider’s stock valued at $267,000 after acquiring an additional 4,999 shares during the period. Van ECK Associates Corp bought a new stake in Monroe Capital Corporation during the first quarter valued at about $1,995,000. Mackenzie Financial Corp bought a new stake in Monroe Capital Corporation during the first quarter valued at about $331,000. Cambridge Investment Research Advisors Inc. raised its holdings in Monroe Capital Corporation by 25.8% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 16,583 shares of the financial services provider’s stock valued at $261,000 after acquiring an additional 3,405 shares during the period. Finally, Ativo Capital Management LLC bought a new stake in Monroe Capital Corporation during the first quarter valued at about $913,000. 28.93% of the stock is currently owned by institutional investors and hedge funds.
TRADEMARK VIOLATION WARNING: “$13.36 Million in Sales Expected for Monroe Capital Corporation (MRCC) This Quarter” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/10/05/13-36-million-in-sales-expected-for-monroe-capital-corporation-mrcc-this-quarter.html.
Shares of Monroe Capital Corporation (NASDAQ MRCC) traded up 0.49% during trading on Monday, hitting $14.44. The stock had a trading volume of 100,555 shares. Monroe Capital Corporation has a 1-year low of $13.32 and a 1-year high of $16.20. The stock’s 50-day moving average price is $13.85 and its 200 day moving average price is $14.96.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a yield of 9.70%. Monroe Capital Corporation’s dividend payout ratio is presently 157.31%.
Monroe Capital Corporation Company Profile
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 and Canada. 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Monroe Capital Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Monroe Capital Corporation and related stocks with our FREE daily email newsletter.