ValuEngine Downgrades Solar Capital (SLRC) to Hold

Solar Capital (NASDAQ:SLRC) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday.

A number of other equities research analysts have also recently commented on SLRC. Keefe, Bruyette & Woods raised shares of Solar Capital from a “market perform” rating to an “outperform” rating and set a $23.00 target price for the company in a research report on Friday, January 12th. JMP Securities raised shares of Solar Capital from a “market perform” rating to an “outperform” rating in a research report on Tuesday, January 16th. National Securities reissued a “buy” rating and set a $25.00 target price on shares of Solar Capital in a research report on Friday, February 2nd. Zacks Investment Research cut shares of Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, February 9th. Finally, BidaskClub raised shares of Solar Capital from a “strong sell” rating to a “sell” rating in a research report on Friday, March 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Solar Capital currently has a consensus rating of “Hold” and an average target price of $23.67.

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Shares of SLRC traded down $0.08 during mid-day trading on Wednesday, hitting $20.41. The company’s stock had a trading volume of 91,073 shares, compared to its average volume of 128,674. Solar Capital has a 52-week low of $19.70 and a 52-week high of $22.94. The stock has a market capitalization of $866.35, a PE ratio of 12.60, a PEG ratio of 2.31 and a beta of 0.54. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Solar Capital (NASDAQ:SLRC) last posted its earnings results on Thursday, February 22nd. The financial services provider reported $0.44 EPS for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.02. Solar Capital had a net margin of 49.14% and a return on equity of 7.43%. The company had revenue of $38.91 million during the quarter, compared to analysts’ expectations of $37.65 million. equities research analysts forecast that Solar Capital will post 1.78 EPS for the current year.

A number of large investors have recently bought and sold shares of SLRC. Northern Trust Corp lifted its position in 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 acquiring an additional 1,088 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Solar Capital by 376.0% in the third quarter. Russell Investments Group Ltd. now owns 47,194 shares of the financial services provider’s stock worth $1,021,000 after buying an additional 37,280 shares during the last quarter. Macquarie Group Ltd. purchased a new position in shares of Solar Capital in the third quarter worth $210,000. Legal & General Group Plc raised its holdings in shares of Solar Capital by 15.2% in the third quarter. Legal & General Group Plc now owns 124,596 shares of the financial services provider’s stock worth $2,697,000 after buying an additional 16,431 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of Solar Capital by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 520,778 shares of the financial services provider’s stock worth $11,259,000 after buying an additional 15,314 shares during the last quarter. 62.05% of the stock is owned by institutional investors.

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Solar Capital Company Profile

Solar Capital Ltd is a business development company that seeks investment opportunities in middle market companies located in the US. The fund targets companies operating in the fields of aerospace & defense, automobile, banking, beverage, food & tobacco, buildings & real estate, broadcasting & entertainment, cargo transport, chemicals, plastics & rubber, containers, packaging & glass, diversified or conglomerate manufacturing, diversified financial services, electronics, farming & agriculture, finance, grocery, healthcare, education & childcare, home, office furnishings & durable consumer products, hotels, motels, inns & gaming, insurance, IT services, leisure, amusement & entertainment, machinery, mining, steel, iron & non-precious metals, personal & nondurable consumer products, personal, food &services, personal transportation, professional services, retail stores, software, telecommunications, textiles and leather, and utilities.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Solar Capital (NASDAQ:SLRC)

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