Solar Capital (SLRC) Rating Lowered to Strong Sell at BidaskClub
Solar Capital (NASDAQ:SLRC) was downgraded by research analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Thursday.
A number of other brokerages have also recently commented on SLRC. Zacks Investment Research raised Solar Capital from a “sell” rating to a “hold” rating in a research note on Thursday, November 9th. National Securities reaffirmed a “buy” rating and set a $25.00 price objective on shares of Solar Capital in a research note on Wednesday, November 29th. Finally, Ladenburg Thalmann Financial Services raised Solar Capital from a “neutral” rating to a “buy” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $23.35.
Shares of Solar Capital (SLRC) opened at $20.81 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.01 and a current ratio of 1.01. Solar Capital has a 52 week low of $20.17 and a 52 week high of $22.94. The company has a market capitalization of $874.38, a price-to-earnings ratio of 12.93, a P/E/G ratio of 2.59 and a beta of 0.54.
Solar Capital (NASDAQ:SLRC) last announced its quarterly earnings data on Thursday, November 2nd. The financial services provider reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.01). Solar Capital had a return on equity of 7.32% and a net margin of 50.29%. The company had revenue of $36.15 million for the quarter, compared to analyst estimates of $35.95 million. analysts anticipate that Solar Capital will post 1.6 EPS for the current year.
A number of hedge funds have recently bought and sold shares of SLRC. Bronfman E.L. Rothschild L.P. bought a new position in Solar Capital during the second quarter worth about $125,000. Global X MANAGEMENT CO LLC lifted its holdings in Solar Capital by 49.3% during the third quarter. Global X MANAGEMENT CO LLC now owns 9,024 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 2,981 shares in the last quarter. Macquarie Group Ltd. bought a new position in Solar Capital during the third quarter worth about $210,000. Russell Investments Group Ltd. bought a new position in Solar Capital during the second quarter worth about $217,000. Finally, Northern Trust Corp lifted its holdings in Solar Capital by 11.7% during the second quarter. Northern Trust Corp now owns 10,412 shares of the financial services provider’s stock worth $228,000 after acquiring an additional 1,088 shares in the last quarter. Hedge funds and other institutional investors own 63.08% of the company’s stock.
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Solar Capital Company Profile
Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies.
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