Solar Capital Ltd. Plans Quarterly Dividend of $0.40 (SLRC)
Solar Capital (NASDAQ:SLRC) announced a quarterly dividend on Monday, May 5th, American Banking News reports. Stockholders of record on Thursday, June 19th will be paid a dividend of 0.40 per share on Tuesday, July 1st. This represents a $1.60 annualized dividend and a dividend yield of 7.26%.
On a related note, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Solar Capital in a research note on Wednesday, April 16th. They now have a $22.50 price target on the stock. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Solar Capital presently has an average rating of “Hold” and a consensus price target of $23.97.
Solar Capital (NASDAQ:SLRC) traded up 0.92% during mid-day trading on Monday, hitting $22.04. 400,143 shares of the company’s stock traded hands. Solar Capital has a 52-week low of $21.13 and a 52-week high of $25.04. The stock has a 50-day moving average of $22.02 and a 200-day moving average of $22.37. Solar Capital also was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 1,695,905 shares, a growth of 40.6% from the March 31st total of 1,205,848 shares. Based on an average daily volume of 351,068 shares, the days-to-cover ratio is currently 4.8 days. Currently, 4.1% of the shares of the stock are sold short.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.09. On average, analysts predict that Solar Capital will post $1.69 earnings per share for the current fiscal year.
Solar Capital Ltd. (NASDAQ:SLRC) is a closed-end, externally managed, non-diversified management investment company.
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