Solar Capital (SLRC) Cut to “Sell” at BidaskClub

BidaskClub cut shares of Solar Capital (NASDAQ:SLRC) from a hold rating to a sell rating in a research note issued to investors on Wednesday morning.

A number of other research firms have also recently issued reports on SLRC. National Securities reissued a buy rating and issued a $25.00 price target on shares of Solar Capital in a research note on Friday, May 11th. ValuEngine cut shares of Solar Capital from a hold rating to a sell rating in a research note on Monday, July 2nd. Finally, Zacks Investment Research raised shares of Solar Capital from a hold rating to a buy rating and set a $23.00 price target on the stock in a research note on Thursday, April 26th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Solar Capital currently has a consensus rating of Hold and an average target price of $23.67.

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Solar Capital opened at $20.66 on Wednesday, MarketBeat.com reports. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.59. The company has a market cap of $876.49 million, a PE ratio of 12.75, a PEG ratio of 2.29 and a beta of 0.59. Solar Capital has a 1-year low of $19.70 and a 1-year high of $22.55.

Solar Capital (NASDAQ:SLRC) last posted its earnings results on Monday, May 7th. The financial services provider reported $0.45 earnings per share for the quarter, meeting the consensus estimate of $0.45. The firm had revenue of $38.96 million during the quarter, compared to analyst estimates of $37.99 million. Solar Capital had a net margin of 49.57% and a return on equity of 7.69%. analysts expect that Solar Capital will post 1.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 3rd. Investors of record on Thursday, June 21st were paid a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, June 20th. This represents a $1.64 dividend on an annualized basis and a yield of 7.94%. Solar Capital’s dividend payout ratio is currently 101.23%.

Institutional investors have recently added to or reduced their stakes in the stock. Great West Life Assurance Co. Can acquired a new stake in Solar Capital during the 1st quarter worth $228,000. Geode Capital Management LLC acquired a new stake in Solar Capital during the 4th quarter worth $347,000. TCW Group Inc. boosted its stake in Solar Capital by 86.2% during the 1st quarter. TCW Group Inc. now owns 24,200 shares of the financial services provider’s stock worth $492,000 after purchasing an additional 11,200 shares during the last quarter. Macquarie Group Ltd. boosted its stake in Solar Capital by 295.6% during the 4th quarter. Macquarie Group Ltd. now owns 38,315 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 28,630 shares during the last quarter. Finally, Neville Rodie & Shaw Inc. acquired a new stake in Solar Capital during the 2nd quarter worth $991,000. 60.22% of the stock is currently owned by hedge funds and other institutional investors.

About Solar Capital

Solar Capital Ltd is a business development company that seeks investment opportunities in middle market companies located in the US. The fund targets companies operating in the fields of aerospace & defense, automobile, banking, beverage, food & tobacco, buildings & real estate, broadcasting & entertainment, cargo transport, chemicals, plastics & rubber, containers, packaging & glass, diversified or conglomerate manufacturing, diversified financial services, electronics, farming & agriculture, finance, grocery, healthcare, education & childcare, home, office furnishings & durable consumer products, hotels, motels, inns & gaming, insurance, IT services, leisure, amusement & entertainment, machinery, mining, steel, iron & non-precious metals, personal & nondurable consumer products, personal, food &services, personal transportation, professional services, retail stores, software, telecommunications, textiles and leather, and utilities.