Solar Capital (SLRC) Downgraded to Strong Sell at BidaskClub

BidaskClub cut shares of Solar Capital (NASDAQ:SLRC) from a sell rating to a strong sell rating in a report released on Thursday, December 7th.

Other analysts have also issued research reports about the company. Ladenburg Thalmann Financial Services raised Solar Capital from a neutral rating to a buy rating in a report on Monday, November 6th. National Securities boosted their price objective on Solar Capital from $24.00 to $25.00 and gave the company a buy rating in a research report on Monday, November 6th. Finally, Zacks Investment Research upgraded Solar Capital from a sell rating to a hold rating in a research report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $23.35.

Solar Capital (SLRC) traded up $0.10 during mid-day trading on Thursday, hitting $20.21. The stock had a trading volume of 294,623 shares, compared to its average volume of 214,173. Solar Capital has a 52-week low of $19.90 and a 52-week high of $22.94. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $849.86, a PE ratio of 12.03, a P/E/G ratio of 2.51 and a beta of 0.54.

Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). Solar Capital had a return on equity of 7.32% and a net margin of 50.29%. The firm had revenue of $36.15 million during the quarter, compared to the consensus estimate of $35.95 million. analysts expect that Solar Capital will post 1.6 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 22nd will be given a dividend of $0.41 per share. The ex-dividend date is Wednesday, March 21st. This is an increase from Solar Capital’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a yield of 8.11%. Solar Capital’s dividend payout ratio is 95.24%.

Hedge funds have recently modified their holdings of the business. Bronfman E.L. Rothschild L.P. purchased a new stake in Solar Capital during the second quarter valued at approximately $125,000. Global X MANAGEMENT CO LLC raised its position in Solar Capital by 49.3% during the third quarter. Global X MANAGEMENT CO LLC now owns 9,024 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 2,981 shares during the period. Macquarie Group Ltd. bought a new position in shares of Solar Capital during the third quarter valued at approximately $210,000. Russell Investments Group Ltd. bought a new position in shares of Solar Capital during the second quarter valued at approximately $217,000. Finally, Northern Trust Corp grew its stake in shares of Solar Capital by 11.7% during the second quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock valued at $228,000 after buying an additional 1,088 shares during the last quarter. Institutional investors and hedge funds own 63.08% of the company’s stock.

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Solar Capital Company Profile

Solar Capital Ltd. is a closed-end, externally managed, non-diversified 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 privately held the United States middle market companies.

Analyst Recommendations for Solar Capital (NASDAQ:SLRC)

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