Solar Capital Given “Neutral” Rating at Citigroup Inc. (SLRC)
Solar Capital (NASDAQ:SLRC)‘s stock had its “neutral” rating reiterated by Citigroup Inc. in a research note issued on Wednesday. They currently have a $21.00 price objective on the stock, down from their previous price objective of $24.00. Citigroup Inc.’s price objective would indicate a potential upside of 6.22% from the stock’s previous close.
Solar Capital (NASDAQ:SLRC) traded down 0.25% during mid-day trading on Wednesday, hitting $19.72. 77,759 shares of the company’s stock traded hands. Solar Capital has a 1-year low of $19.35 and a 1-year high of $23.29. The stock’s 50-day moving average is $20.6 and its 200-day moving average is $21.43.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.38 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.40 by $0.02. Analysts expect that Solar Capital will post $1.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 1st. Stockholders 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 8.09%. The ex-dividend date of this dividend is Tuesday, September 16th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks downgraded shares of Solar Capital from a “neutral” rating to an “underperform” rating in a research note on Friday, August 8th. They now have a $18.80 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Solar Capital in a research note on Tuesday, August 5th. They now have a $24.50 price target on the stock, down previously from $25.80. Finally, 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, August 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $21.96.
Solar Capital Ltd. (NASDAQ:SLRC) is a closed-end, externally managed, non-diversified management investment company.
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