Solar Capital Ltd. (SLRC) Lowered to “Hold” at Zacks Investment Research
Solar Capital Ltd. (NASDAQ:SLRC) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Wednesday.
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. “
Other analysts have also issued research reports about the stock. National Securities restated a “buy” rating and issued a $22.00 price target (up previously from $21.00) on shares of Solar Capital in a research note on Thursday, August 4th. Deutsche Bank AG lifted their price target on shares of Solar Capital from $23.00 to $23.50 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Keefe, Bruyette & Woods set a $21.50 price target on shares of Solar Capital and gave the stock a “hold” rating in a research note on Wednesday, August 3rd. Finally, Citigroup Inc. lifted their price target on shares of Solar Capital from $17.00 to $20.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 16th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $21.83.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/solar-capital-ltd-slrc-lowered-to-hold-at-zacks-investment-research.html
Shares of Solar Capital (NASDAQ:SLRC) opened at 20.42 on Wednesday. The stock has a 50 day moving average of $20.42 and a 200 day moving average of $19.16. Solar Capital has a 1-year low of $15.05 and a 1-year high of $20.88.
Solar Capital (NASDAQ:SLRC) last posted its earnings results on Tuesday, August 2nd. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Solar Capital had a net margin of 35.86% and a return on equity of 7.83%. On average, equities research analysts forecast that Solar Capital will post $1.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Thursday, September 22nd were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Tuesday, September 20th. This represents a $1.60 annualized dividend and a yield of 7.84%. Solar Capital’s payout ratio is 136.75%.
Hedge funds have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its stake in Solar Capital by 0.3% in the second quarter. Citigroup Inc. now owns 22,960 shares of the company’s stock valued at $437,000 after buying an additional 80 shares during the last quarter. Commonwealth Equity Services Inc raised its position in Solar Capital by 1.0% in the first quarter. Commonwealth Equity Services Inc now owns 15,099 shares of the company’s stock valued at $261,000 after buying an additional 145 shares in the last quarter. Legal & General Group Plc raised its position in Solar Capital by 0.5% in the second quarter. Legal & General Group Plc now owns 82,734 shares of the company’s stock valued at $1,576,000 after buying an additional 414 shares in the last quarter. Sanders Morris Harris Inc. raised its position in Solar Capital by 0.8% in the second quarter. Sanders Morris Harris Inc. now owns 56,646 shares of the company’s stock valued at $1,079,000 after buying an additional 423 shares in the last quarter. Finally, KCG Holdings Inc. raised its position in Solar Capital by 7.4% in the second quarter. KCG Holdings Inc. now owns 11,164 shares of the company’s stock valued at $213,000 after buying an additional 770 shares in the last quarter. Hedge funds and other institutional investors own 58.55% of the company’s stock.
Solar Capital Company Profile
Solar Capital Ltd. is a management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in the United States middle market companies. It invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Solar Capital Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solar Capital Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.