Analysts forecast that Solar Capital Ltd. (NASDAQ:SLRC) will report earnings of $0.43 per share for the current quarter, Zacks reports. Two analysts have made estimates for Solar Capital’s earnings. The lowest EPS estimate is $0.42 and the highest is $0.45. Solar Capital reported earnings per share of $0.40 in the same quarter last year, which indicates a positive year-over-year growth rate of 7.5%. The firm is scheduled to announce its next earnings report on Wednesday, November 1st.
On average, analysts expect that Solar Capital will report full-year earnings of $1.67 per share for the current fiscal year, with EPS estimates ranging from $1.63 to $1.74. For the next financial year, analysts forecast that the firm will post earnings of $1.81 per share, with EPS estimates ranging from $1.76 to $1.86. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that follow Solar Capital.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by $0.03. The firm had revenue of $33.89 million during the quarter, compared to analyst estimates of $36.51 million. Solar Capital had a net margin of 62.94% and a return on equity of 7.70%.
SLRC has been the topic of several analyst reports. National Securities reaffirmed a “buy” rating and issued a $24.00 target price on shares of Solar Capital in a research report on Monday, May 8th. Zacks Investment Research raised Solar Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, April 26th. BidaskClub lowered Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, J P Morgan Chase & Co lowered Solar Capital from an “overweight” rating to a “neutral” rating and set a $23.00 target price on the stock. in a research report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. Solar Capital has a consensus rating of “Hold” and an average target price of $22.34.
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A number of large investors have recently modified their holdings of SLRC. Mckinley Capital Management LLC Delaware raised its stake in shares of Solar Capital by 18.7% in the first quarter. Mckinley Capital Management LLC Delaware now owns 225,559 shares of the financial services provider’s stock valued at $5,100,000 after buying an additional 35,462 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Solar Capital by 29.0% in the first quarter. Van ECK Associates Corp now owns 226,152 shares of the financial services provider’s stock worth $5,113,000 after buying an additional 50,868 shares during the period. Argent Capital Management LLC raised its position in shares of Solar Capital by 2.3% in the first quarter. Argent Capital Management LLC now owns 117,033 shares of the financial services provider’s stock worth $2,646,000 after buying an additional 2,600 shares during the period. Citadel Advisors LLC raised its position in shares of Solar Capital by 0.5% in the first quarter. Citadel Advisors LLC now owns 147,938 shares of the financial services provider’s stock worth $3,345,000 after buying an additional 697 shares during the period. Finally, PVG Asset Management Corp acquired a new position in shares of Solar Capital during the first quarter worth approximately $1,202,000. 62.68% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Solar Capital (NASDAQ SLRC) traded down 0.562% during trading on Friday, reaching $21.936. 13,340 shares of the company’s stock traded hands. The company has a 50 day moving average of $21.84 and a 200-day moving average of $21.96. Solar Capital has a 1-year low of $19.26 and a 1-year high of $22.94.
The business also recently announced a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 22nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 7.25%. The ex-dividend date was Tuesday, June 20th. Solar Capital’s dividend payout ratio is presently 70.48%.
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.
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