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. “
Separately, BidaskClub lowered shares of Solar Capital from a hold rating to a sell rating in a research note on Saturday, September 7th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $22.70.
Shares of NASDAQ:SLRC opened at $20.97 on Friday. Solar Capital has a one year low of $18.45 and a one year high of $21.94. The company has a 50 day moving average of $20.52 and a 200-day moving average of $20.90. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $883.66 million, a price-to-earnings ratio of 11.85, a P/E/G ratio of 3.96 and a beta of 0.70.
Solar Capital (NASDAQ:SLRC) last released its quarterly earnings data on Monday, August 5th. The financial services provider reported $0.44 earnings per share for the quarter, hitting the consensus estimate of $0.44. Solar Capital had a net margin of 46.63% and a return on equity of 7.97%. The business had revenue of $38.68 million for the quarter, compared to analyst estimates of $40.38 million. Equities research analysts anticipate that Solar Capital will post 1.76 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 2nd. Investors of record on Thursday, September 19th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 7.82%. The ex-dividend date is Wednesday, September 18th. Solar Capital’s payout ratio is 92.66%.
Institutional investors have recently added to or reduced their stakes in the stock. Arlington Partners LLC bought a new position in Solar Capital during the 2nd quarter worth approximately $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in Solar Capital in the second quarter valued at approximately $41,000. Centaurus Financial Inc. lifted its stake in Solar Capital by 4,820.7% in the second quarter. Centaurus Financial Inc. now owns 5,462 shares of the financial services provider’s stock valued at $112,000 after buying an additional 5,351 shares in the last quarter. Glassman Wealth Services bought a new position in Solar Capital in the first quarter valued at approximately $165,000. Finally, Advisor Group Inc. lifted its stake in Solar Capital by 26.2% in the second quarter. Advisor Group Inc. now owns 8,535 shares of the financial services provider’s stock valued at $174,000 after buying an additional 1,772 shares in the last quarter. 57.86% of the stock is currently owned by institutional investors and hedge funds.
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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