Sound Point Meridian Capital, Inc. to Issue Monthly Dividend of $0.13 (NYSE:SPMC)

Sound Point Meridian Capital, Inc. (NYSE:SPMC) announced a monthly dividend on Wednesday, August 12th. Stockholders of record on Friday, November 13th will be given a dividend of 0.13 per share on Monday, November 30th. This represents a c) dividend on an annualized basis and a dividend yield of 15.9%. The ex-dividend date is Friday, November 13th.

Sound Point Meridian Capital Stock Performance

NYSE:SPMC opened at $9.84 on Thursday. Sound Point Meridian Capital has a one year low of $8.36 and a one year high of $18.54. The stock has a market cap of $201.72 million, a PE ratio of -1.60 and a beta of 1.15. The stock has a 50 day moving average price of $10.39 and a 200 day moving average price of $10.57.

Sound Point Meridian Capital (NYSE:SPMC) last announced its quarterly earnings data on Wednesday, August 12th. The company reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.06). The company had revenue of $12.42 million during the quarter, compared to analysts’ expectations of $14.18 million. As a group, analysts predict that Sound Point Meridian Capital will post 1.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SPMC has been the subject of a number of recent research reports. Alliance Global Partners reaffirmed a “buy” rating on shares of Sound Point Meridian Capital in a research note on Wednesday, May 27th. Zacks Research raised shares of Sound Point Meridian Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 28th. Finally, B. Riley Financial reissued a “neutral” rating on shares of Sound Point Meridian Capital in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $15.12.

Sound Point Meridian Capital Company Profile

Sound Point Meridian Capital Inc is an externally managed, non-diversified closed-end management investment company. Its investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in third-party collateralized loan obligation equity and mezzanine tranches. Sound Point Meridian Capital Inc is based in NEW YORK.