Wall Street analysts predict that Solar Senior Capital Ltd. (NASDAQ:SUNS) will post $8.24 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Solar Senior Capital’s earnings. The highest sales estimate is $8.58 million and the lowest is $7.90 million. Solar Senior Capital reported sales of $6.68 million in the same quarter last year, which would indicate a positive year over year growth rate of 23.4%. The company is scheduled to report its next quarterly earnings results after the market closes on Tuesday, August 1st.
On average, analysts expect that Solar Senior Capital will report full year sales of $8.24 million for the current financial year, with estimates ranging from $32.70 million to $36.00 million. For the next fiscal year, analysts anticipate that the firm will report sales of $42.70 million per share, with estimates ranging from $38.40 million to $47.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Solar Senior Capital.
Solar Senior Capital (NASDAQ:SUNS) last released its quarterly earnings data on Tuesday, May 2nd. The asset manager reported $0.35 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.35. Solar Senior Capital had a net margin of 76.74% and a return on equity of 7.95%. The company had revenue of $7.50 million during the quarter, compared to the consensus estimate of $7.96 million.
Several research analysts have weighed in on the stock. Zacks Investment Research lowered shares of Solar Senior Capital from a “buy” rating to a “hold” rating in a report on Wednesday, April 26th. Maxim Group reissued a “buy” rating and set a $18.50 price objective on shares of Solar Senior Capital in a report on Wednesday, May 3rd. Finally, BidaskClub lowered shares of Solar Senior Capital from a “buy” rating to a “hold” rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $17.88.
Shares of Solar Senior Capital (NASDAQ:SUNS) traded down 0.5562% during midday trading on Wednesday, hitting $17.4325. 8,568 shares of the stock were exchanged. The firm has a 50-day moving average price of $17.09 and a 200-day moving average price of $17.37. Solar Senior Capital has a 12-month low of $15.06 and a 12-month high of $18.46.
The firm also recently declared a monthly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Thursday, July 20th will be issued a $0.117 dividend. This represents a $1.40 annualized dividend and a dividend yield of 8.01%. The ex-dividend date of this dividend is Tuesday, July 18th. Solar Senior Capital’s dividend payout ratio (DPR) is presently 89.81%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP raised its position in Solar Senior Capital by 12.5% in the first quarter. Wellington Management Group LLP now owns 160,272 shares of the asset manager’s stock valued at $2,882,000 after buying an additional 17,840 shares during the period. AXA acquired a new position in Solar Senior Capital during the first quarter valued at approximately $728,000. Muzinich & Co. Inc. raised its position in Solar Senior Capital by 122.9% in the first quarter. Muzinich & Co. Inc. now owns 565,539 shares of the asset manager’s stock valued at $10,168,000 after buying an additional 311,852 shares during the period. JPMorgan Chase & Co. raised its position in Solar Senior Capital by 10.0% in the first quarter. JPMorgan Chase & Co. now owns 447,983 shares of the asset manager’s stock valued at $8,055,000 after buying an additional 40,612 shares during the period. Finally, Oxford Asset Management acquired a new position in Solar Senior Capital during the first quarter valued at approximately $742,000. 31.70% of the stock is owned by institutional investors and hedge funds.
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Solar Senior Capital Company Profile
Solar Senior Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to seek to maximize current income consistent with the preservation of capital. The Company seeks to achieve its investment objective by directly and indirectly investing in senior loans, including first lien, unitranche, and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade, which it refers to collectively as senior loans.
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