Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) is expected to issue 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 posted its quarterly earnings results on Tuesday, August 12th. The company reported $0.53 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.03). The business had revenue of $19.21 million for the quarter, compared to analyst estimates of $20.72 million.
Sound Point Meridian Capital Stock Up 0.3%
NYSE:SPMC traded up $0.05 on Wednesday, reaching $18.35. 16,660 shares of the company's stock traded hands, compared to its average volume of 25,262. The stock has a 50-day simple moving average of $18.02 and a 200-day simple moving average of $18.68. Sound Point Meridian Capital has a 12 month low of $16.26 and a 12 month high of $22.30. The firm has a market cap of $371.20 million, a PE ratio of 12.92 and a beta of 0.26.
Sound Point Meridian Capital Dividend Announcement
The company also recently disclosed 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. The ex-dividend date is Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 16.3%. Sound Point Meridian Capital's dividend payout ratio (DPR) is presently 211.27%.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on SPMC. Zacks Research upgraded shares of Sound Point Meridian Capital from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 26th. Alliance Global Partners assumed coverage on shares of Sound Point Meridian Capital in a report on Friday, July 18th. They issued a "buy" rating and a $20.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and an average price target of $21.25.
Read Our Latest Analysis on SPMC
Institutional Investors 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 shares of Sound Point Meridian Capital, Inc. (NYSE:SPMC - Free Report) by 35.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,152 shares of the company's stock after acquiring an additional 20,163 shares during the period. Marshall Wace LLP owned about 0.38% of Sound Point Meridian Capital worth $1,379,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
About Sound Point Meridian Capital
(
Get Free Report)
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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