$13.30 Million in Sales Expected for Monroe Capital Corp (MRCC) This Quarter
Analysts expect Monroe Capital Corp (NASDAQ:MRCC) to post $13.30 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for Monroe Capital’s earnings. The highest sales estimate is $13.60 million and the lowest is $13.07 million. Monroe Capital posted sales of $11.23 million during the same quarter last year, which suggests a positive year over year growth rate of 18.4%. The company is scheduled to report its next 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 financial year, with estimates ranging from $50.81 million to $51.30 million. For the next fiscal year, analysts anticipate that the business will post sales of $60.42 million per share, with estimates ranging from $57.80 million to $64.91 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Monroe Capital.
Several brokerages have recently commented on MRCC. Zacks Investment Research raised shares of Monroe Capital from a “sell” rating to a “hold” rating in a research report on Thursday, November 9th. TheStreet raised shares of Monroe Capital from a “c+” rating to a “b” rating in a research report on Monday, November 27th. Finally, National Securities reaffirmed a “buy” rating and set a $17.00 price target on shares of Monroe Capital in a research report on Monday, November 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $16.50.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.40 annualized dividend and a yield of 9.96%. Monroe Capital’s dividend payout ratio (DPR) is 142.86%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. acquired a new stake in Monroe Capital during the second quarter worth about $114,000. Stifel Financial Corp acquired a new stake in Monroe Capital during the third quarter worth about $143,000. Citadel Advisors LLC acquired a new stake in Monroe Capital during the third quarter worth about $144,000. Financial Counselors Inc. acquired a new stake in Monroe Capital during the second quarter worth about $156,000. Finally, Spectrum Management Group Inc. acquired a new stake in Monroe Capital during the third quarter worth about $172,000. Hedge funds and other institutional investors own 29.29% of the company’s stock.
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Monroe Capital 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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