Solar Capital Ltd. (SLRC) Stock Rating Upgraded by Zacks Investment Research
Solar Capital Ltd. (NASDAQ:SLRC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note 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. “
Several other equities analysts have also recently issued reports on the company. National Securities reaffirmed a “buy” rating and set a $24.00 price objective on shares of Solar Capital in a report on Monday, August 7th. Keefe, Bruyette & Woods set a $23.00 price target on Solar Capital and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, BidaskClub cut Solar Capital from a “hold” rating to a “sell” rating in a report on Friday, July 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. Solar Capital presently has a consensus rating of “Hold” and a consensus target price of $23.10.
Shares of Solar Capital (NASDAQ:SLRC) traded up 0.37% on Wednesday, hitting $21.64. The stock had a trading volume of 21,728 shares. The company has a market cap of $914.53 million, a price-to-earnings ratio of 8.55 and a beta of 0.55. The firm’s 50-day moving average is $21.29 and its 200-day moving average is $21.80. Solar Capital has a one year low of $19.26 and a one year high of $22.94.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Tuesday, August 1st. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.03). The firm had revenue of $33.89 million for the quarter, compared to analyst estimates of $36.51 million. Solar Capital had a return on equity of 7.30% and a net margin of 54.87%. On average, analysts expect that Solar Capital will post $1.62 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLRC. Muzinich & Co. Inc. raised its holdings in shares of Solar Capital by 20.7% in the second quarter. Muzinich & Co. Inc. now owns 1,888,476 shares of the financial services provider’s stock worth $41,301,000 after acquiring an additional 323,733 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Solar Capital in the second quarter worth $2,389,000. Clough Capital Partners L P raised its holdings in shares of Solar Capital by 12.0% in the first quarter. Clough Capital Partners L P now owns 825,572 shares of the financial services provider’s stock worth $18,666,000 after acquiring an additional 88,141 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Solar Capital by 18.9% in the second quarter. Advisors Asset Management Inc. now owns 375,783 shares of the financial services provider’s stock worth $8,218,000 after acquiring an additional 59,621 shares during the last quarter. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of Solar Capital in the second quarter worth $1,207,000. 62.75% of the stock is owned by institutional investors.
Solar Capital Company Profile
Solar Capital Ltd. is a closed-end, externally managed, non-diversified 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 privately held the United States middle market companies.
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