Solar Senior Capital Ltd (NASDAQ:SUNS) declared a monthly dividend on Wednesday, January 8th, Zacks reports. Shareholders of record on Thursday, January 23rd will be paid a dividend of 0.117 per share by the asset manager on Friday, January 31st. This represents a $1.40 annualized dividend and a yield of 7.84%. The ex-dividend date is Wednesday, January 22nd.
Solar Senior Capital has a dividend payout ratio of 100.7% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect Solar Senior Capital to earn $1.38 per share next year, which means the company may not be able to cover its $1.41 annual dividend with an expected future payout ratio of 102.2%.
Shares of Solar Senior Capital stock opened at $17.91 on Monday. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.56 and a quick ratio of 0.56. Solar Senior Capital has a 1 year low of $15.82 and a 1 year high of $18.29. The firm’s 50-day moving average is $17.86 and its two-hundred day moving average is $17.31. The stock has a market cap of $287.37 million, a price-to-earnings ratio of 19.90 and a beta of 0.58.
Solar Senior Capital (NASDAQ:SUNS) last issued its earnings results on Monday, November 4th. The asset manager reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. Solar Senior Capital had a net margin of 35.72% and a return on equity of 8.59%. The company had revenue of $10.40 million for the quarter, compared to analysts’ expectations of $10.89 million. On average, equities analysts expect that Solar Senior Capital will post 1.39 earnings per share for the current year.
SUNS has been the topic of several recent research reports. BidaskClub cut shares of Solar Senior Capital from a “hold” rating to a “sell” rating in a report on Wednesday, December 25th. Zacks Investment Research upgraded shares of Solar Senior Capital from a “sell” rating to a “hold” rating in a report on Thursday, January 9th. Finally, Maxim Group reiterated a “buy” rating and set a $19.00 target price on shares of Solar Senior Capital in a report on Wednesday, November 6th.
About Solar Senior Capital
Solar Senior Capital Ltd. is a business development company specializing in investments in leveraged, middle-market companies in the United States. The fund invests in the form of senior secured loans, including first lien, unitranche, and second lien debt instruments. It does not invest in start-up companies or companies having speculative business plans.
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