Equities research analysts expect Solar Capital Ltd. (NASDAQ:SLRC) to post earnings per share of $0.44 for the current quarter, according to Zacks. Three analysts have made estimates for Solar Capital’s earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.45. Solar Capital reported earnings per share of $0.45 in the same quarter last year, which indicates a negative year over year growth rate of 2.2%. The company is expected to issue its next quarterly earnings results on Monday, August 5th.
On average, analysts expect that Solar Capital will report full year earnings of $1.78 per share for the current fiscal year, with EPS estimates ranging from $1.75 to $1.82. For the next financial year, analysts anticipate that the business will report earnings of $1.86 per share, with EPS estimates ranging from $1.80 to $1.93. Zacks’ EPS averages are an average based on a survey of research analysts that cover Solar Capital.
Solar Capital (NASDAQ:SLRC) last released its earnings results on Monday, May 6th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $39.26 million during the quarter, compared to analyst estimates of $40.30 million. Solar Capital had a return on equity of 8.05% and a net margin of 46.58%.
SLRC has been the subject of several recent research reports. BidaskClub cut shares of Solar Capital from a “hold” rating to a “sell” rating in a report on Thursday, April 25th. National Securities restated a “buy” rating and set a $25.00 price target on shares of Solar Capital in a research report on Wednesday, May 8th. Raymond James started coverage on shares of Solar Capital in a research report on Tuesday, April 16th. They set an “outperform” rating and a $22.50 price target on the stock. Finally, Zacks Investment Research upgraded shares of Solar Capital from a “sell” rating to a “hold” rating in a research report on Tuesday, March 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $22.70.
Shares of SLRC stock traded down $0.09 during trading on Friday, hitting $20.12. The company’s stock had a trading volume of 344 shares, compared to its average volume of 86,983. The company has a market cap of $854.08 million, a P/E ratio of 11.44, a PEG ratio of 3.78 and a beta of 0.75. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.64. The business’s fifty day moving average is $20.87. Solar Capital has a 52 week low of $18.45 and a 52 week high of $22.00.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 2nd. Investors of record on Thursday, June 20th will be given a dividend of $0.41 per share. The ex-dividend date is Wednesday, June 19th. This represents a $1.64 annualized dividend and a yield of 8.15%. Solar Capital’s dividend payout ratio is presently 92.66%.
A number of hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Solar Capital by 9.6% during the first quarter. JPMorgan Chase & Co. now owns 938,895 shares of the financial services provider’s stock valued at $19,567,000 after buying an additional 81,851 shares during the period. Partners Group Holding AG grew its position in Solar Capital by 13.3% during the fourth quarter. Partners Group Holding AG now owns 718,001 shares of the financial services provider’s stock valued at $13,778,000 after buying an additional 84,220 shares during the period. 1832 Asset Management L.P. grew its position in Solar Capital by 19.6% during the fourth quarter. 1832 Asset Management L.P. now owns 500,000 shares of the financial services provider’s stock valued at $9,594,000 after buying an additional 81,964 shares during the period. Confluence Investment Management LLC grew its position in Solar Capital by 0.8% during the first quarter. Confluence Investment Management LLC now owns 491,489 shares of the financial services provider’s stock valued at $10,243,000 after buying an additional 3,749 shares during the period. Finally, Punch & Associates Investment Management Inc. grew its position in Solar Capital by 3.4% during the first quarter. Punch & Associates Investment Management Inc. now owns 329,446 shares of the financial services provider’s stock valued at $6,866,000 after buying an additional 10,883 shares during the period. Institutional investors own 58.11% 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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