BidaskClub downgraded shares of Solar Capital (NASDAQ:SLRC) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

SLRC has been the subject of several other research reports. Zacks Investment Research upgraded shares of Solar Capital from a sell rating to a hold rating in a report on Wednesday, December 5th. ValuEngine lowered shares of Solar Capital from a hold rating to a sell rating in a report on Monday, October 8th. Oppenheimer started coverage on shares of Solar Capital in a report on Wednesday, November 28th. They set a buy rating and a $23.00 price target for the company. National Securities restated a buy rating and set a $25.00 price target on shares of Solar Capital in a report on Tuesday, November 6th. Finally, Wells Fargo & Co lowered shares of Solar Capital from an outperform rating to a market perform rating in a report on Thursday, October 4th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $23.50.

Solar Capital stock opened at $20.38 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.01 and a quick ratio of 1.01. Solar Capital has a 52-week low of $19.70 and a 52-week high of $22.00. The company has a market cap of $861.28 million, a price-to-earnings ratio of 11.45, a PEG ratio of 2.30 and a beta of 0.66.

Solar Capital (NASDAQ:SLRC) last released its quarterly earnings results on Monday, November 5th. The financial services provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.03). Solar Capital had a return on equity of 8.12% and a net margin of 48.83%. The firm had revenue of $37.01 million for the quarter, compared to the consensus estimate of $39.59 million. Analysts forecast that Solar Capital will post 1.77 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Thursday, December 20th will be issued a dividend of $0.41 per share. The ex-dividend date is Wednesday, December 19th. This represents a $1.64 annualized dividend and a yield of 8.05%. Solar Capital’s payout ratio is 101.23%.

Several hedge funds have recently made changes to their positions in SLRC. Sei Investments Co. grew its position in shares of Solar Capital by 6.2% during the 2nd quarter. Sei Investments Co. now owns 183,341 shares of the financial services provider’s stock worth $3,747,000 after buying an additional 10,759 shares during the period. FDx Advisors Inc. acquired a new stake in shares of Solar Capital during the 2nd quarter worth approximately $207,000. Legal & General Group Plc grew its position in shares of Solar Capital by 6.3% during the 2nd quarter. Legal & General Group Plc now owns 165,712 shares of the financial services provider’s stock worth $3,388,000 after buying an additional 9,820 shares during the period. Citadel Advisors LLC grew its position in shares of Solar Capital by 2.5% during the 2nd quarter. Citadel Advisors LLC now owns 131,509 shares of the financial services provider’s stock worth $2,689,000 after buying an additional 3,188 shares during the period. Finally, United Services Automobile Association grew its position in shares of Solar Capital by 167.0% during the 2nd quarter. United Services Automobile Association now owns 713,108 shares of the financial services provider’s stock worth $37,809,000 after buying an additional 445,980 shares during the period. 59.14% of the stock is owned by institutional investors.

About Solar Capital

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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Analyst Recommendations for Solar Capital (NASDAQ:SLRC)

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