Monroe Capital Corporation (MRCC) Expected to Announce Quarterly Sales of $13.36 Million
Brokerages expect that Monroe Capital Corporation (NASDAQ:MRCC) will post $13.36 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Monroe Capital Corporation’s earnings. The highest sales estimate is $13.77 million and the lowest is $12.95 million. Monroe Capital Corporation posted sales of $11.13 million during the same quarter last year, which suggests a positive year over year growth rate of 20%. The company is expected to issue its next earnings results on Monday, November 6th.
According to Zacks, analysts expect that Monroe Capital Corporation will report full-year sales of $13.36 million for the current fiscal year, with estimates ranging from $50.91 million to $53.07 million. For the next year, analysts anticipate that the firm will report sales of $64.18 million per share, with estimates ranging from $58.50 million to $71.30 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Monroe Capital Corporation.
Monroe Capital Corporation (NASDAQ:MRCC) last announced its quarterly earnings results on Tuesday, August 8th. The financial services provider reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Monroe Capital Corporation had a return on equity of 9.39% and a net margin of 31.60%. The business had revenue of $12.27 million during the quarter, compared to analysts’ expectations of $12.40 million.
MRCC has been the topic of several analyst reports. TheStreet downgraded Monroe Capital Corporation from a “b” rating to a “c+” rating in a research report on Friday, August 25th. BidaskClub raised Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. National Securities reissued a “buy” rating and set a $17.00 target price on shares of Monroe Capital Corporation in a research report on Monday, June 12th. Ladenburg Thalmann Financial Services raised Monroe Capital Corporation from a “neutral” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, August 10th. Finally, Zacks Investment Research raised Monroe Capital Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, August 15th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Monroe Capital Corporation presently has an average rating of “Hold” and an average price target of $16.50.
Shares of Monroe Capital Corporation (MRCC) opened at 14.07 on Thursday. Monroe Capital Corporation has a 52 week low of $13.41 and a 52 week high of $16.20. The company has a 50-day moving average price of $14.19 and a 200-day moving average price of $15.17.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 9.95%. The ex-dividend date of this dividend is Thursday, September 14th. Monroe Capital Corporation’s payout ratio is currently 157.31%.
In other Monroe Capital Corporation news, Chairman Theodore L. Koenig acquired 21,800 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The stock was bought at an average price of $13.61 per share, for a total transaction of $296,698.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Jeffrey D. Steele acquired 6,425 shares of the company’s stock in a transaction that occurred on Tuesday, June 20th. The shares were acquired at an average price of $15.00 per share, with a total value of $96,375.00. Following the acquisition, the director now owns 18,000 shares in the company, valued at $270,000. The disclosure for this purchase can be found here. 1.90% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of MRCC. Muzinich & Co. Inc. boosted its holdings in Monroe Capital Corporation by 54.5% during the 1st quarter. Muzinich & Co. Inc. now owns 674,942 shares of the financial services provider’s stock valued at $10,617,000 after acquiring an additional 238,038 shares during the period. Van ECK Associates Corp purchased a new position in Monroe Capital Corporation during the 1st quarter valued at $1,995,000. Bank of Montreal Can purchased a new position in Monroe Capital Corporation during the 2nd quarter valued at $1,218,000. UBS Group AG boosted its holdings in Monroe Capital Corporation by 22.0% during the 1st quarter. UBS Group AG now owns 416,955 shares of the financial services provider’s stock valued at $6,558,000 after acquiring an additional 75,249 shares during the period. Finally, Ativo Capital Management LLC purchased a new position in Monroe Capital Corporation during the 1st quarter valued at $913,000. Institutional investors own 28.93% of the company’s stock.
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Monroe Capital Corporation Company Profile
Monroe Capital Corporation is a closed-end, non-diversified management investment company. The Company is a specialty finance company focused on providing financing primarily to lower middle-market companies in the United States and Canada. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation primarily through investments in senior, unitranche and junior secured debt, and unsecured subordinated debt and equity.
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