Brokerages Expect Monroe Capital Corp (MRCC) Will Announce Quarterly Sales of $13.30 Million
Analysts expect Monroe Capital Corp (NASDAQ:MRCC) to report $13.30 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Monroe Capital’s earnings, with the highest sales estimate coming in at $13.60 million and the lowest estimate coming in at $13.07 million. Monroe Capital posted sales of $11.23 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 18.4%. The company is expected to report its next quarterly earnings results on Tuesday, March 6th.
On average, analysts expect that Monroe Capital will report full year sales of $13.30 million for the current year, with estimates ranging from $50.81 million to $51.30 million. For the next financial year, analysts anticipate that the company will report sales of $60.42 million per share, with estimates ranging from $57.80 million to $64.91 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow Monroe Capital.
MRCC has been the topic of a number of analyst reports. TheStreet downgraded Monroe Capital from a “b” rating to a “c+” rating in a research report on Friday, August 25th. Zacks Investment Research downgraded Monroe Capital from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Finally, National Securities reiterated a “buy” rating and set a $17.00 price objective on shares of Monroe Capital in a research report on Monday, November 13th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. Monroe Capital presently has a consensus rating of “Hold” and an average target price of $16.50.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.40 dividend on an annualized basis and a yield of 9.91%. Monroe Capital’s payout ratio is 142.86%.
A number of institutional investors have recently made changes to their positions in the stock. Muzinich & Co. Inc. lifted its position in Monroe Capital by 18.7% during the second quarter. Muzinich & Co. Inc. now owns 801,138 shares of the financial services provider’s stock worth $12,201,000 after buying an additional 126,196 shares in the last quarter. Blair William & Co. IL increased its stake in Monroe Capital by 0.5% during the second quarter. Blair William & Co. IL now owns 794,108 shares of the financial services provider’s stock worth $12,094,000 after acquiring an additional 4,136 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Monroe Capital by 14.8% during the third quarter. Sumitomo Mitsui Asset Management Company LTD now owns 462,399 shares of the financial services provider’s stock worth $6,616,000 after acquiring an additional 59,617 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Monroe Capital by 3.7% during the third quarter. Janney Montgomery Scott LLC now owns 191,096 shares of the financial services provider’s stock worth $2,735,000 after acquiring an additional 6,762 shares during the last quarter. Finally, Van ECK Associates Corp increased its stake in Monroe Capital by 6.1% during the third quarter. Van ECK Associates Corp now owns 153,900 shares of the financial services provider’s stock worth $2,202,000 after acquiring an additional 8,817 shares during the last quarter. Hedge funds and other institutional investors own 29.94% of the company’s stock.
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About Monroe Capital
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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