Solar Capital’s Buy Rating Reiterated at Deutsche Bank (SLRC)
Solar Capital (NASDAQ:SLRC)‘s stock had its “buy” rating reissued by Deutsche Bank in a research note issued on Thursday. They currently have a $24.25 price objective on the stock, up from their previous price objective of $24.00. Deutsche Bank’s target price indicates a potential upside of 28.78% from the stock’s previous close.
Shares of Solar Capital (NASDAQ:SLRC) traded down 0.64% on Thursday, hitting $18.70. The stock had a trading volume of 367,164 shares. Solar Capital has a one year low of $17.20 and a one year high of $21.80. The stock has a 50-day moving average of $20. and a 200-day moving average of $19.. The company has a market cap of $794.10 million and a P/E ratio of 16.55.
Solar Capital (NASDAQ:SLRC) last released its earnings data on Tuesday, May 5th. The company reported $0.34 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.39 by $0.05. Analysts expect that Solar Capital will post $1.61 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Thursday, June 25th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 8.50%. The ex-dividend date is Tuesday, June 23rd.
A number of other firms have also recently commented on SLRC. Analysts at National Securitiesreiterated a “buy” rating and set a $23.00 price target on shares of Solar Capital in a research note on Wednesday. Analysts at TheStreet upgraded shares of Solar Capital from a “hold” rating to a “buy” rating in a research note on Tuesday, March 3rd. Finally, analysts at Wells Fargo & Co. upgraded shares of Solar Capital from a “market perform” rating to an “outperform” rating in a research note on Thursday, February 26th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Solar Capital currently has an average rating of “Buy” and a consensus target price of $22.19.
Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company that has elected to be treated as a business development company. The Company’s investment objective is to generate both current income and capital appreciation through debt and equity investments. The Company invests primarily in leveraged middle markets companies in the form of senior secured loans, mezzanine loans and equity securities