Solar Capital Ltd. (NASDAQ:SLRC) Given Consensus Recommendation of “Hold” by Brokerages

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Shares of Solar Capital Ltd. (NASDAQ:SLRC) have received an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $22.17.

A number of brokerages have recently weighed in on SLRC. Zacks Investment Research cut Solar Capital from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. TheStreet downgraded Solar Capital from a “b” rating to a “c+” rating in a research note on Tuesday, November 19th. Finally, BidaskClub upgraded shares of Solar Capital from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 18th.

Shares of NASDAQ:SLRC traded up $0.06 during trading on Tuesday, hitting $20.87. 88,700 shares of the stock were exchanged, compared to its average volume of 106,734. The company has a market cap of $877.74 million, a PE ratio of 11.79, a P/E/G ratio of 4.00 and a beta of 0.69. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.61. The company has a fifty day moving average price of $20.65 and a two-hundred day moving average price of $20.56. Solar Capital has a 12-month low of $18.70 and a 12-month high of $21.83.

Solar Capital (NASDAQ:SLRC) last released its quarterly earnings data on Monday, November 4th. The financial services provider reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. The firm had revenue of $39.71 million during the quarter, compared to the consensus estimate of $39.33 million. Solar Capital had a return on equity of 7.97% and a net margin of 43.03%. Equities research analysts anticipate that Solar Capital will post 1.74 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 3rd. Stockholders of record on Thursday, December 19th will be given a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, December 18th. This represents a $1.64 annualized dividend and a dividend yield of 7.86%. Solar Capital’s dividend payout ratio is presently 92.66%.

In related news, insider Guy Talarico acquired 7,150 shares of Solar Capital stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $20.86 per share, for a total transaction of $149,149.00. Following the completion of the transaction, the insider now directly owns 930 shares of the company’s stock, valued at $19,399.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Steven Hochberg sold 15,000 shares of the stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $20.57, for a total value of $308,550.00. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SLRC. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Solar Capital in the 2nd quarter valued at about $41,000. Centaurus Financial Inc. grew its holdings in shares of Solar Capital by 4,820.7% during the second quarter. Centaurus Financial Inc. now owns 5,462 shares of the financial services provider’s stock worth $112,000 after buying an additional 5,351 shares in the last quarter. Advisor Group Inc. grew its holdings in shares of Solar Capital by 26.2% during the second quarter. Advisor Group Inc. now owns 8,535 shares of the financial services provider’s stock worth $174,000 after buying an additional 1,772 shares in the last quarter. Round Table Services LLC acquired a new position in shares of Solar Capital in the third quarter valued at approximately $210,000. Finally, Wambolt & Associates LLC acquired a new position in shares of Solar Capital in the third quarter valued at approximately $213,000. Hedge funds and other institutional investors own 58.96% of the company’s stock.

About Solar Capital

Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities.

Further Reading: Asset Allocation, Balancing Your Investments

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