Sound Point Meridian Capital (SPMC) to Release Quarterly Earnings on Friday

Key Points

• Sound Point Meridian Capital will report quarterly earnings on September 12th, with analysts expecting earnings of $0.56 per share and revenue of $22.04 million.
• The company recently declared a monthly dividend of $0.25 per share, with a dividend yield of 16.8%.
• There is a current consensus rating of "Buy" for the stock, with an average target price of $21.25 from analysts.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) will likely be issuing its results before the market opens on Friday, September 12th. Analysts expect the company to announce earnings of $0.56 per share and revenue of $22.0430 million for the quarter.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.53 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.03). The business had revenue of $19.21 million during the quarter, compared to analysts' expectations of $20.72 million.

Sound Point Meridian Capital Price Performance

Shares of NYSE:SPMC opened at $17.89 on Friday. Sound Point Meridian Capital has a 1 year low of $16.26 and a 1 year high of $22.30. The business has a fifty day moving average price of $18.00 and a two-hundred day moving average price of $18.77. The company has a market capitalization of $361.81 million, a PE ratio of 12.60 and a beta of 0.26.

Sound Point Meridian Capital Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.25 per share. This represents a c) dividend on an annualized basis and a dividend yield of 16.8%. The ex-dividend date of this dividend is Friday, November 14th. Sound Point Meridian Capital's dividend payout ratio is currently 211.27%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Alliance Global Partners assumed coverage on Sound Point Meridian Capital in a research report on Friday, July 18th. They set a "buy" rating and a $20.00 price target on the stock. Zacks Research raised Sound Point Meridian Capital from a "strong sell" rating to a "hold" rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Sound Point Meridian Capital presently has a consensus rating of "Buy" and an average target price of $21.25.

Hedge Funds Weigh In On Sound Point Meridian Capital

A hedge fund recently raised its stake in Sound Point Meridian Capital stock. Marshall Wace LLP boosted its holdings in Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) by 35.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 77,152 shares of the company's stock after acquiring an additional 20,163 shares during the quarter. Marshall Wace LLP owned 0.38% of Sound Point Meridian Capital worth $1,379,000 at the end of the most recent reporting period.

About Sound Point Meridian Capital

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.

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