According to Zacks, “Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged companies, including middle market companies, in the form of senior secured loans, mezzanine loans, and equity securities. “
A number of other research firms have also weighed in on SLRC. BidaskClub lowered shares of Solar Capital from a “hold” rating to a “sell” rating in a research note on Friday, September 25th. LADENBURG THALM/SH SH upgraded shares of Solar Capital from a “neutral” rating to a “buy” rating and set a $18.00 price target for the company in a report on Friday, August 7th. Finally, Wells Fargo & Company increased their price objective on shares of Solar Capital from $16.50 to $17.25 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Three research analysts have rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.59.
Shares of NASDAQ SLRC traded up $0.43 during mid-day trading on Friday, hitting $16.29. The company had a trading volume of 138,773 shares, compared to its average volume of 206,602. The company has a market capitalization of $688.42 million, a PE ratio of -67.87 and a beta of 1.31. The business’s 50-day simple moving average is $16.44 and its 200 day simple moving average is $15.41. Solar Capital has a 1-year low of $7.42 and a 1-year high of $21.24. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.00 and a quick ratio of 1.00.
Solar Capital (NASDAQ:SLRC) last released its earnings results on Tuesday, August 4th. The financial services provider reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.35 by ($0.01). The company had revenue of $28.63 million for the quarter, compared to analyst estimates of $30.51 million. Solar Capital had a positive return on equity of 7.51% and a negative net margin of 7.14%. On average, analysts expect that Solar Capital will post 1.41 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the business. UBS Group AG lifted its position in shares of Solar Capital by 61.9% during the 2nd quarter. UBS Group AG now owns 627,375 shares of the financial services provider’s stock worth $10,044,000 after buying an additional 239,811 shares during the last quarter. Cliffwater LLC lifted its position in Solar Capital by 56.4% in the second quarter. Cliffwater LLC now owns 393,900 shares of the financial services provider’s stock valued at $6,306,000 after acquiring an additional 142,059 shares during the last quarter. WINTON GROUP Ltd acquired a new position in Solar Capital in the second quarter valued at $2,066,000. Radcliffe Capital Management L.P. purchased a new position in shares of Solar Capital during the first quarter worth about $989,000. Finally, JPMorgan Chase & Co. increased its position in shares of Solar Capital by 6.8% during the first quarter. JPMorgan Chase & Co. now owns 1,245,841 shares of the financial services provider’s stock worth $14,501,000 after purchasing an additional 78,884 shares in the last quarter. 55.44% of the stock is currently owned by institutional investors.
Solar Capital Company Profile
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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