BidaskClub Lowers Solar Capital (NASDAQ:SLRC) to Sell

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BidaskClub cut shares of Solar Capital (NASDAQ:SLRC) from a hold rating to a sell rating in a research report sent to investors on Saturday morning, BidAskClub reports.

Separately, Zacks Investment Research raised shares of Solar Capital from a sell rating to a hold rating in a research report on Wednesday, August 28th. Three investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and an average target price of $22.70.

Shares of SLRC stock opened at $20.69 on Friday. Solar Capital has a fifty-two week low of $18.45 and a fifty-two week high of $21.97. The stock’s 50-day moving average is $20.51 and its two-hundred day moving average is $20.91. 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 firm has a market cap of $874.38 million, a P/E ratio of 11.69, a PEG ratio of 3.89 and a beta of 0.70.

Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings results on Monday, August 5th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. The business had revenue of $38.68 million during the quarter, compared to analyst estimates of $40.38 million. Solar Capital had a return on equity of 7.97% and a net margin of 46.63%. As a group, research analysts expect that Solar Capital will post 1.76 EPS for the current year.

The firm 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 $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 7.93%. The ex-dividend date is Wednesday, September 18th. Solar Capital’s payout ratio is presently 92.66%.

A number of large investors have recently modified their holdings of the stock. Arlington Partners LLC acquired a new position in Solar Capital during the second quarter worth $38,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new stake in shares of Solar Capital in the second quarter worth about $41,000. Centaurus Financial Inc. lifted its position in shares of 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 worth $112,000 after buying an additional 5,351 shares during the last quarter. Glassman Wealth Services bought a new stake in shares of Solar Capital during the 1st quarter worth about $165,000. Finally, Advisor Group Inc. boosted its stake in shares of Solar Capital by 26.2% during the 2nd quarter. Advisor Group Inc. now owns 8,535 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 1,772 shares in the last quarter. Hedge funds and other institutional investors own 57.86% of the company’s stock.

About Solar Capital

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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