Sound Point Meridian Capital (SPMC) Expected to Release Quarterly Earnings on Wednesday

Sound Point Meridian Capital (NYSE:SPMC) is anticipated to announce its results before the market opens on Wednesday, August 12th. Analysts expect the company to post earnings of $0.30 per share and revenue of $14.1830 million for the quarter.

Sound Point Meridian Capital (NYSE:SPMC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.07). The business had revenue of $12.57 million during the quarter, compared to the consensus estimate of $17.20 million. On average, analysts expect Sound Point Meridian Capital to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Sound Point Meridian Capital Price Performance

NYSE SPMC opened at $10.34 on Wednesday. Sound Point Meridian Capital has a 12 month low of $8.36 and a 12 month high of $18.60. The company has a 50-day moving average of $10.49 and a 200-day moving average of $10.72. The company has a market cap of $211.87 million, a P/E ratio of -1.68 and a beta of 1.15.

Sound Point Meridian Capital Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 23.2%. Sound Point Meridian Capital’s dividend payout ratio (DPR) is currently -39.09%.

Analyst Upgrades and Downgrades

SPMC has been the subject of a number of recent analyst reports. Alliance Global Partners restated a “buy” rating on shares of Sound Point Meridian Capital in a report 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. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Sound Point Meridian Capital has a consensus rating of “Hold” and a consensus target price of $15.12.

Hedge Funds Weigh In On Sound Point Meridian Capital

Several hedge funds and other institutional investors have recently modified their holdings of SPMC. Virtus Investment Advisers LLC grew its holdings in shares of Sound Point Meridian Capital by 7.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 29,620 shares of the company’s stock worth $407,000 after purchasing an additional 2,061 shares during the period. Thomas J. Herzfeld Advisors Inc. acquired a new stake in Sound Point Meridian Capital during the 4th quarter worth approximately $189,000. Citadel Advisors LLC purchased a new position in Sound Point Meridian Capital in the third quarter valued at approximately $267,000. Kim LLC purchased a new position in Sound Point Meridian Capital in the second quarter valued at approximately $192,821,000. Finally, Marshall Wace LLP raised its holdings in Sound Point Meridian Capital by 35.4% in the second quarter. Marshall Wace LLP now owns 77,152 shares of the company’s stock valued at $1,379,000 after buying an additional 20,163 shares during the period.

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.