$7.82 Million in Sales Expected for Solar Senior Capital Ltd. (SUNS) This Quarter
Equities research analysts forecast that Solar Senior Capital Ltd. (NASDAQ:SUNS) will post sales of $7.82 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Solar Senior Capital’s earnings. The lowest sales estimate is $7.80 million and the highest is $7.85 million. Solar Senior Capital posted sales of $7.00 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 11.7%. The company is expected to issue its next quarterly earnings results on Wednesday, November 1st.
On average, analysts expect that Solar Senior Capital will report full-year sales of $7.82 million for the current year, with estimates ranging from $31.30 million to $32.00 million. For the next fiscal year, analysts anticipate that the business will report sales of $39.25 million per share, with estimates ranging from $38.50 million to $40.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that that provide coverage for Solar Senior Capital.
Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings data on Tuesday, August 1st. The asset manager reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. Solar Senior Capital had a net margin of 76.07% and a return on equity of 7.98%. The company had revenue of $7.66 million for the quarter, compared to the consensus estimate of $8.24 million.
Several equities research analysts have recently issued reports on SUNS shares. Zacks Investment Research lowered Solar Senior Capital from a “hold” rating to a “sell” rating in a research report on Friday, May 5th. Maxim Group reiterated a “buy” rating and set a $18.50 price target on shares of Solar Senior Capital in a research note on Wednesday, May 3rd. Finally, BidaskClub upgraded Solar Senior Capital from a “hold” rating to a “buy” rating in a research note on Wednesday, July 12th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $17.88.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wedbush Securities Inc. increased its position in shares of Solar Senior Capital by 0.4% in the first quarter. Wedbush Securities Inc. now owns 11,074 shares of the asset manager’s stock valued at $199,000 after buying an additional 48 shares in the last quarter. Advisor Group Inc. increased its stake in shares of Solar Senior Capital by 1.4% in the second quarter. Advisor Group Inc. now owns 6,657 shares of the asset manager’s stock worth $112,000 after buying an additional 95 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Solar Senior Capital by 2.3% in the first quarter. Goldman Sachs Group Inc. now owns 17,127 shares of the asset manager’s stock worth $308,000 after buying an additional 388 shares during the period. Menlo Advisors LLC increased its stake in shares of Solar Senior Capital by 5.4% in the second quarter. Menlo Advisors LLC now owns 20,590 shares of the asset manager’s stock worth $344,000 after buying an additional 1,050 shares during the period. Finally, RMB Capital Management LLC increased its stake in shares of Solar Senior Capital by 5.4% in the first quarter. RMB Capital Management LLC now owns 39,043 shares of the asset manager’s stock worth $702,000 after buying an additional 2,000 shares during the period. Institutional investors and hedge funds own 32.58% of the company’s stock.
Shares of Solar Senior Capital (NASDAQ SUNS) opened at 16.57 on Friday. Solar Senior Capital has a 12-month low of $15.06 and a 12-month high of $18.46. The stock has a 50 day moving average of $17.20 and a 200-day moving average of $17.41.
The business also recently announced a monthly dividend, which will be paid on Thursday, August 31st. Shareholders of record on Thursday, August 17th will be paid a $0.117 dividend. The ex-dividend date of this dividend is Tuesday, August 15th. This represents a $1.40 annualized dividend and a yield of 8.47%. Solar Senior Capital’s dividend payout ratio is currently 94.63%.
Solar Senior Capital Company Profile
Solar Senior Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to seek to maximize current income consistent with the preservation of capital. The Company seeks to achieve its investment objective by directly and indirectly investing in senior loans, including first lien, unitranche, and second lien debt instruments, made to private middle-market companies whose debt is rated below investment grade, which it refers to collectively as senior loans.
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