$9.54 Million in Sales Expected for Solar Senior Capital Ltd (SUNS) This Quarter
Equities analysts expect Solar Senior Capital Ltd (NASDAQ:SUNS) to report $9.54 million in sales for the current fiscal quarter, Zacks reports. Two analysts have issued estimates for Solar Senior Capital’s earnings. The lowest sales estimate is $9.48 million and the highest is $9.60 million. Solar Senior Capital posted sales of $7.50 million during the same quarter last year, which suggests a positive year-over-year growth rate of 27.2%. The company is expected to issue its next quarterly earnings report on Tuesday, May 1st.
On average, analysts expect that Solar Senior Capital will report full-year sales of $9.54 million for the current year, with estimates ranging from $40.00 million to $42.00 million. For the next fiscal year, analysts anticipate that the company will report sales of $47.60 million per share, with estimates ranging from $44.20 million to $51.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Solar Senior Capital.
Solar Senior Capital (NASDAQ:SUNS) last posted its quarterly earnings data on Thursday, February 22nd. The asset manager reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Solar Senior Capital had a net margin of 72.70% and a return on equity of 8.38%. The firm had revenue of $9.05 million for the quarter, compared to analyst estimates of $8.74 million.
In related news, insider Bruce J. Spohler bought 5,113 shares of the firm’s stock in a transaction on Monday, March 5th. The shares were bought at an average cost of $16.74 per share, for a total transaction of $85,591.62. Following the transaction, the insider now owns 4,000 shares of the company’s stock, valued at $66,960. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Bruce J. Spohler bought 11,254 shares of the firm’s stock in a transaction on Friday, March 2nd. The shares were bought at an average price of $16.85 per share, for a total transaction of $189,629.90. Following the completion of the transaction, the insider now directly owns 4,000 shares in the company, valued at approximately $67,400. The disclosure for this purchase can be found here. 5.60% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SUNS. JPMorgan Chase & Co. boosted its position in shares of Solar Senior Capital by 19.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 542,976 shares of the asset manager’s stock worth $9,453,000 after purchasing an additional 87,062 shares in the last quarter. OxFORD Asset Management LLP boosted its position in shares of Solar Senior Capital by 24.8% in the 3rd quarter. OxFORD Asset Management LLP now owns 33,478 shares of the asset manager’s stock worth $583,000 after buying an additional 6,644 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. boosted its position in shares of Solar Senior Capital by 18.4% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 50,673 shares of the asset manager’s stock worth $874,000 after buying an additional 7,860 shares in the last quarter. BlackRock Inc. boosted its position in shares of Solar Senior Capital by 11.9% in the 4th quarter. BlackRock Inc. now owns 103,232 shares of the asset manager’s stock worth $1,833,000 after buying an additional 10,982 shares in the last quarter. Finally, Ramsey Quantitative Systems purchased a new stake in shares of Solar Senior Capital in the 4th quarter worth about $119,000. Institutional investors own 28.46% of the company’s stock.
Solar Senior Capital (SUNS) traded up $0.14 during trading hours on Friday, reaching $17.10. 54,878 shares of the company were exchanged, compared to its average volume of 49,438. Solar Senior Capital has a 1 year low of $16.10 and a 1 year high of $18.40. The stock has a market cap of $268.98, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 2.39 and a beta of 0.62.
The business also recently announced a monthly dividend, which will be paid on Tuesday, April 3rd. Shareholders of record on Thursday, March 22nd will be given a dividend of $0.1175 per share. This is a positive change from Solar Senior Capital’s previous monthly dividend of $0.12. This represents a $1.41 annualized dividend and a dividend yield of 8.25%. The ex-dividend date of this dividend is Wednesday, March 21st. Solar Senior Capital’s payout ratio is presently 96.58%.
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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