Sound Point Meridian Capital (SPMC) Expected to Announce Earnings on Tuesday

Key Points

• Sound Point Meridian Capital is set to announce its quarterly earnings on August 12th, with expected earnings of $0.56 per share and revenue of $20.72 million.
• Recently, the stock is trading at $18.03, down 0.3%, and has a 1-year range between $16.26 and $22.30.
• The company declared a dividend of $0.25 per share on July 31st, reflecting a substantial yield of 1,681.0%.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) is anticipated to release its earnings data before the market opens on Tuesday, August 12th. Analysts expect Sound Point Meridian Capital to post earnings of $0.56 per share and revenue of $20.72 million for the quarter.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.60 by $0.06. The company had revenue of $22.66 million during the quarter, compared to analysts' expectations of $20.48 million.

Sound Point Meridian Capital Stock Performance

Shares of Sound Point Meridian Capital stock traded up $0.08 during midday trading on Friday, hitting $18.13. The company had a trading volume of 3,666 shares, compared to its average volume of 19,119. The company has a fifty day simple moving average of $17.91 and a 200 day simple moving average of $19.13. Sound Point Meridian Capital has a 12-month low of $16.26 and a 12-month high of $22.30.

Sound Point Meridian Capital Announces Dividend

The firm also recently declared a -- dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a yield of 1,600.0%.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners assumed coverage on shares of Sound Point Meridian Capital in a research report on Friday, July 18th. They set a "buy" rating and a $20.00 price target for the company.

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.