Solar Capital Lowered to Underperform at Zacks (SLRC)
Solar Capital (NASDAQ:SLRC) was downgraded by Zacks from a “neutral” rating to an “underperform” rating in a report released on Friday. They currently have a $18.80 price objective on the stock. Zacks‘s price target indicates a potential downside of 5.19% from the company’s current price.
SLRC has been the subject of a number of other recent research reports. Analysts at Deutsche Bank reiterated a “buy” rating on shares of Solar Capital in a research note on Tuesday. They now have a $24.50 price target on the stock, down previously from $25.80. Separately, analysts at Evercore Partners cut their price target on shares of Solar Capital from $24.00 to $23.00 in a research note on Tuesday. Finally, analysts at JPMorgan Chase & Co. upgraded shares of Solar Capital from a “neutral” rating to an “overweight” rating in a research note on Monday, August 4th. They now have a $22.50 price target on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Solar Capital currently has a consensus rating of “Hold” and a consensus price target of $22.20.
Shares of Solar Capital (NASDAQ:SLRC) traded up 0.20% during mid-day trading on Friday, hitting $19.83. The stock had a trading volume of 134,721 shares. Solar Capital has a 52-week low of $19.35 and a 52-week high of $23.29. The stock’s 50-day moving average is $20.68 and its 200-day moving average is $21.50.
Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.40 by $0.02. On average, analysts predict that Solar Capital will post $1.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Investors of record on Thursday, September 18th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 8.07%. The ex-dividend date is Tuesday, September 16th.
Solar Capital Ltd. (NASDAQ:SLRC) is a closed-end, externally managed, non-diversified management investment company.
To view Zacks’ full report, visit Zacks’ official website.
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