Solar Senior Capital Ltd. (SUNS) Receives $17.17 Consensus Target Price from Brokerages

Shares of Solar Senior Capital Ltd. (NASDAQ:SUNS) have been assigned a consensus rating of “Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $17.17.

SUNS has been the subject of several recent research reports. BidaskClub lowered shares of Solar Senior Capital from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a report on Wednesday, July 5th. Finally, Maxim Group restated a “buy” rating and issued a $18.50 price target on shares of Solar Senior Capital in a report on Wednesday, May 3rd.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. increased its position in shares of Solar Senior Capital by 1.4% in the second quarter. Advisor Group Inc. now owns 6,657 shares of the asset manager’s stock worth $112,000 after buying an additional 95 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Solar Senior Capital by 0.4% in the first quarter. Wedbush Securities Inc. now owns 11,074 shares of the asset manager’s stock worth $199,000 after buying an additional 48 shares during the last quarter. Russell Investments Group Ltd. increased its position in shares of Solar Senior Capital by 149.7% in the first quarter. Russell Investments Group Ltd. now owns 11,392 shares of the asset manager’s stock worth $205,000 after buying an additional 6,829 shares during the last quarter. Goldman Sachs Group Inc. increased its position in shares of Solar Senior Capital by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 17,127 shares of the asset manager’s stock worth $308,000 after buying an additional 388 shares during the last quarter. Finally, Menlo Advisors LLC increased its position in shares of Solar Senior Capital by 5.4% in the second quarter. Menlo Advisors LLC now owns 20,590 shares of the asset manager’s stock worth $344,000 after buying an additional 1,050 shares during the last quarter. 32.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Solar Senior Capital (NASDAQ SUNS) opened at 16.57 on Tuesday. Solar Senior Capital has a one year low of $15.06 and a one year high of $18.46. The firm has a 50-day moving average of $17.20 and a 200-day moving average of $17.41.

Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings results on Tuesday, August 1st. The asset manager reported $0.35 EPS for the quarter, meeting the consensus estimate of $0.35. Solar Senior Capital had a net margin of 76.07% and a return on equity of 7.98%. The business had revenue of $7.66 million during the quarter, compared to analyst estimates of $8.24 million. On average, equities analysts forecast that Solar Senior Capital will post $1.35 earnings per share for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Thursday, August 31st. Stockholders of record on Thursday, August 17th will be given a $0.117 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 8.47%. The ex-dividend date of this dividend is Tuesday, August 15th. Solar Senior Capital’s payout ratio is currently 94.63%.

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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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