Zacks: Analysts Anticipate Solar Capital Ltd. (SLRC) Will Announce Quarterly Sales of $40.38 Million
Wall Street analysts expect Solar Capital Ltd. (NASDAQ:SLRC) to announce $40.38 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Solar Capital’s earnings, with estimates ranging from $39.72 million to $41.50 million. Solar Capital reported sales of $39.19 million during the same quarter last year, which would suggest a positive year over year growth rate of 3%. The firm is expected to issue its next quarterly earnings report on Monday, August 5th.
On average, analysts expect that Solar Capital will report full year sales of $165.85 million for the current fiscal year, with estimates ranging from $162.33 million to $170.23 million. For the next fiscal year, analysts forecast that the firm will post sales of $187.68 million, with estimates ranging from $177.86 million to $194.19 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Solar Capital.
Solar Capital (NASDAQ:SLRC) last posted its quarterly earnings results on Monday, May 6th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.44. Solar Capital had a return on equity of 8.05% and a net margin of 46.58%. The business had revenue of $39.26 million for the quarter, compared to analyst estimates of $40.30 million.
NASDAQ:SLRC opened at $20.60 on Friday. Solar Capital has a 12-month low of $18.45 and a 12-month high of $22.00. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.07 and a current ratio of 1.07. The firm has a market capitalization of $866.35 million, a PE ratio of 11.64, a P/E/G ratio of 3.84 and a beta of 0.74.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 2nd. Shareholders of record on Thursday, June 20th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, June 19th. This represents a $1.64 annualized dividend and a yield of 7.96%. Solar Capital’s dividend payout ratio is presently 92.66%.
A number of hedge funds have recently bought and sold shares of the business. Premia Global Advisors LLC bought a new stake in shares of Solar Capital in the first quarter valued at about $34,000. PNC Financial Services Group Inc. bought a new stake in shares of Solar Capital in the first quarter valued at about $42,000. Quantamental Technologies LLC bought a new stake in shares of Solar Capital in the fourth quarter valued at about $44,000. Acadian Asset Management LLC bought a new stake in shares of Solar Capital in the fourth quarter valued at about $111,000. Finally, Glassman Wealth Services bought a new stake in shares of Solar Capital in the first quarter valued at about $165,000. Hedge funds and other institutional investors own 58.11% of the company’s stock.
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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