Solar Capital Ltd. (NASDAQ:SLRC) has been assigned a consensus recommendation of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $23.67.
Several equities analysts recently commented on SLRC shares. Ladenburg Thalmann Financial Services upgraded Solar Capital from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. Zacks Investment Research cut Solar Capital from a “hold” rating to a “sell” rating in a research report on Friday, November 3rd. BidaskClub cut Solar Capital from a “sell” rating to a “strong sell” rating in a report on Thursday, December 7th. JMP Securities upgraded Solar Capital from a “market perform” rating to an “outperform” rating in a report on Tuesday. Finally, National Securities reiterated a “buy” rating and issued a $25.00 price objective on shares of Solar Capital in a report on Wednesday, November 29th.
Solar Capital (NASDAQ SLRC) traded up $0.68 during trading hours on Tuesday, hitting $20.89. The company had a trading volume of 222,800 shares, compared to its average volume of 171,478. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.01 and a current ratio of 1.01. Solar Capital has a 12 month low of $19.90 and a 12 month high of $22.94. The company has a market cap of $885.79, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 2.35 and a beta of 0.55.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 3rd. Stockholders of record on Thursday, March 22nd will be issued a $0.41 dividend. This is a boost from Solar Capital’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 7.85%. The ex-dividend date of this dividend is Wednesday, March 21st. Solar Capital’s dividend payout ratio is presently 95.24%.
Several institutional investors and hedge funds have recently bought and sold shares of SLRC. Global X MANAGEMENT CO LLC boosted its holdings in shares of Solar Capital by 49.3% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 9,024 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 2,981 shares in the last quarter. Macquarie Group Ltd. purchased a new stake in Solar Capital during the 3rd quarter valued at about $210,000. Russell Investments Group Ltd. purchased a new stake in Solar Capital during the 2nd quarter valued at about $217,000. Northern Trust Corp boosted its holdings in Solar Capital by 11.7% during the 2nd quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 1,088 shares during the period. Finally, California Public Employees Retirement System purchased a new stake in Solar Capital during the 3rd quarter valued at about $254,000. Hedge funds and other institutional investors own 63.08% of the company’s stock.
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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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