Solar Capital Ltd. (NASDAQ:SLRC) Expected to Post Earnings of $0.44 Per Share

Analysts expect Solar Capital Ltd. (NASDAQ:SLRC) to post $0.44 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for Solar Capital’s earnings, with the lowest EPS estimate coming in at $0.43 and the highest estimate coming in at $0.45. Solar Capital also posted earnings of $0.44 per share during the same quarter last year. The business is scheduled to report its next earnings results on Thursday, February 20th.

According to Zacks, analysts expect that Solar Capital will report full year earnings of $1.74 per share for the current year, with EPS estimates ranging from $1.73 to $1.76. For the next financial year, analysts anticipate that the business will report earnings of $1.77 per share, with EPS estimates ranging from $1.75 to $1.80. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that follow Solar Capital.

Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings results on Monday, November 4th. The financial services provider reported $0.44 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.44. Solar Capital had a net margin of 43.03% and a return on equity of 7.97%. The firm had revenue of $39.71 million during the quarter, compared to the consensus estimate of $39.33 million.

Several research analysts have commented on SLRC shares. TheStreet downgraded Solar Capital from a “b” rating to a “c+” rating in a report on Tuesday, November 19th. Zacks Investment Research lowered Solar Capital from a “buy” rating to a “hold” rating in a research report on Saturday, November 2nd. Finally, BidaskClub cut Solar Capital from a “sell” rating to a “strong sell” rating in a report on Thursday, November 28th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Solar Capital currently has a consensus rating of “Hold” and an average target price of $22.63.

In other news, Director Steven Hochberg sold 15,000 shares of the business’s stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $20.57, for a total value of $308,550.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.00% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. D.A. Davidson & CO. bought a new stake in Solar Capital in the third quarter valued at about $249,000. Montag A & Associates Inc. boosted its holdings in Solar Capital by 22.9% in the 3rd quarter. Montag A & Associates Inc. now owns 32,945 shares of the financial services provider’s stock worth $680,000 after buying an additional 6,143 shares during the period. Clear Harbor Asset Management LLC raised its holdings in Solar Capital by 3.4% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 190,176 shares of the financial services provider’s stock valued at $3,927,000 after acquiring an additional 6,185 shares during the period. SMH Capital Advisors Inc. lifted its position in shares of Solar Capital by 6.1% during the third quarter. SMH Capital Advisors Inc. now owns 17,516 shares of the financial services provider’s stock worth $362,000 after acquiring an additional 1,011 shares in the last quarter. Finally, California Public Employees Retirement System boosted its holdings in shares of Solar Capital by 416.1% in the third quarter. California Public Employees Retirement System now owns 72,088 shares of the financial services provider’s stock worth $1,489,000 after acquiring an additional 58,120 shares during the period. 58.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ SLRC traded up $0.02 during trading hours on Friday, reaching $20.49. The stock had a trading volume of 390 shares, compared to its average volume of 115,844. Solar Capital has a 52-week low of $18.45 and a 52-week high of $21.83. The firm has a market cap of $876.91 million, a price-to-earnings ratio of 11.58, a P/E/G ratio of 3.97 and a beta of 0.69. The business’s fifty day moving average price is $20.55 and its two-hundred day moving average price is $20.58. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Thursday, December 19th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 8.00%. The ex-dividend date of this dividend is Wednesday, December 18th. Solar Capital’s dividend payout ratio (DPR) is 92.66%.

Solar Capital Company Profile

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.

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Earnings History and Estimates for Solar Capital (NASDAQ:SLRC)

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