Sound Point Meridian Capital (SPMC) Projected to Post 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 issue its quarterly earnings data before the market opens on Tuesday, August 12th. Analysts expect the company to announce 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 issued its quarterly earnings results on Thursday, May 29th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.06. The company had revenue of $22.66 million for the quarter, compared to analysts' expectations of $20.48 million.

Sound Point Meridian Capital Price Performance

NYSE SPMC traded down $0.03 on Thursday, hitting $18.04. 7,151 shares of the stock traded hands, compared to its average volume of 28,283. The business's fifty day moving average is $17.92 and its two-hundred day moving average is $19.18. 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 company also recently disclosed a -- dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid 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%.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners started coverage on Sound Point Meridian Capital in a report on Friday, July 18th. They issued a "buy" rating and a $20.00 price target on the stock.

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.