Solar Capital Ltd. (NASDAQ:SLRC) announced a quarterly dividend on Thursday, November 2nd, Zacks reports. Stockholders of record on Thursday, December 21st will be paid a dividend of 0.40 per share by the financial services provider on Thursday, January 4th. This represents a $1.60 annualized dividend and a dividend yield of 7.89%. The ex-dividend date is Wednesday, December 20th.
Shares of Solar Capital (NASDAQ:SLRC) opened at $20.28 on Friday. The stock has a market capitalization of $863.81, a P/E ratio of 12.77, a PEG ratio of 2.55 and a beta of 0.54. Solar Capital has a twelve month low of $20.17 and a twelve month high of $22.94. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.51.
Solar Capital (NASDAQ:SLRC) last issued its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by ($0.01). Solar Capital had a return on equity of 7.32% and a net margin of 50.29%. The firm had revenue of $36.15 million for the quarter, compared to analysts’ expectations of $35.95 million. equities research analysts predict that Solar Capital will post 1.6 earnings per share for the current fiscal year.
Several analysts recently weighed in on SLRC shares. Zacks Investment Research lowered Solar Capital from a “hold” rating to a “sell” rating in a report on Wednesday, October 4th. National Securities upped their price objective on Solar Capital from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Monday, November 6th. Ladenburg Thalmann Financial Services raised Solar Capital from a “neutral” rating to a “buy” rating in a research report on Monday, November 6th. Finally, BidaskClub downgraded Solar Capital from a “sell” rating to a “strong sell” rating in a research report on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $23.35.
An institutional investor recently raised its position in Solar Capital stock. Northern Trust Corp lifted its position in Solar Capital Ltd. (NASDAQ:SLRC) by 11.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,412 shares of the financial services provider’s stock after purchasing an additional 1,088 shares during the quarter. Northern Trust Corp’s holdings in Solar Capital were worth $228,000 as of its most recent SEC filing. Institutional investors and hedge funds own 63.08% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This report was first published by The Lincolnian Online and is the property of of The Lincolnian Online. If you are accessing this report on another site, it was illegally copied and reposted in violation of United States & international copyright & trademark legislation. The correct version of this report can be read at https://www.thelincolnianonline.com/2017/12/15/solar-capital-ltd-slrc-announces-0-40-quarterly-dividend.html.
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.
Receive News & Ratings for Solar Capital Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Solar Capital and related companies with MarketBeat.com's FREE daily email newsletter.