Solar Capital Ltd. (SLRC) Receives Average Recommendation of “Hold” from Brokerages
Shares of Solar Capital Ltd. (NASDAQ:SLRC) have received a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $23.10.
SLRC has been the topic of several recent research reports. National Securities restated a “buy” rating and set a $24.00 target price on shares of Solar Capital in a research report on Monday, August 7th. Zacks Investment Research upgraded Solar Capital from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Keefe, Bruyette & Woods set a $23.00 target price on Solar Capital and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, BidaskClub downgraded Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, July 28th.
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Solar Capital (NASDAQ:SLRC) last posted its earnings results 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 company had revenue of $33.89 million for the quarter, compared to analysts’ expectations of $36.51 million. Solar Capital had a return on equity of 7.30% and a net margin of 54.87%.
Several institutional investors have recently added to or reduced their stakes in SLRC. Legal & General Group Plc increased its holdings in shares of Solar Capital by 5.0% in the first quarter. Legal & General Group Plc now owns 100,278 shares of the financial services provider’s stock worth $2,267,000 after purchasing an additional 4,738 shares during the period. Bank of America Corp DE increased its holdings in shares of Solar Capital by 23.4% in the first quarter. Bank of America Corp DE now owns 15,693 shares of the financial services provider’s stock worth $354,000 after purchasing an additional 2,976 shares during the period. Russell Investments Group Ltd. bought a new position in shares of Solar Capital in the second quarter worth $217,000. Acadian Asset Management LLC bought a new position in shares of Solar Capital in the second quarter worth $2,389,000. Finally, Eagle Global Advisors LLC increased its holdings in shares of Solar Capital by 36.9% in the second quarter. Eagle Global Advisors LLC now owns 18,539 shares of the financial services provider’s stock worth $405,000 after purchasing an additional 5,000 shares during the period. 62.84% of the stock is currently owned by hedge funds and other institutional investors.
About Solar Capital
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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