Solar Capital Ltd. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, and strategic income-oriented control equity investments in leveraged middle market companies. The fund invests in aerospace and defense; air freight & logistics; asset management; automotive; banking; beverage, food and tobacco; building products; buildings and real estate; broadcasting and entertainment; cargo transport; commercial services and supplies; communications equipment; chemicals, plastics and rubber; containers, packaging and glass; construction & engineering; diversified/conglomerate manufacturing; consumer Finance; distributors; diversified/conglomerate services; diversified financial services; diversified real estate sctivities; food products; Footwear; Education Services; diversified telecommunications services; electronics; farming and agriculture; finance; grocery; health care equipment and supplies; health care facilities; education and childcare; home and office furnishing, durable consumer products; hotels, motels, inns and gaming; insurance; restaurants, leisure, amusement, and entertainment; leisure equipment tolls and services, media, multiline retail, multi sector holdings; paper and forest products; personal products; professional services, research and consulting services, software; specialty retail; textiles apparel and luxury goods, thrifts and mortgage finance, trading companies and distributors, utilities, and wireless telecommunication services; industrial conglomerates; internet software and services, IT services, machinery; mining, steel, iron, and non precious metals; oil and gas; personal, food and miscellaneous services; printing and publishing; retail stores; telecommunications; textiles and leather; and utilities. It also invests in life sciences with focus on specialty pharmaceuticals, medical devices, biotech, health Care Providers and services; health Care technology, enabling technologies and tools. The fund primarily invests in United States. The fund's investments generally range between $5 million and $100 million. The fund invests in companies with revenues between $50 million and $1 billion and EBITDA between $15 million and $100 million. It invests in the form of senior secured loans, mezzanine loans, and equity securities. It may also seek investments in thinly traded public companies and also make secondary investments. The fund makes non-control equity investments. It primarily exits within three years of the initial capital commitment.
Industry, Sector and Symbol
Stock Exchange NASDAQ
Industry Investment offices, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
Current SymbolNASDAQ:SLRC
Previous Symbol
CUSIP83413U10
Phone212-993-1670
Debt
Debt-to-Equity Ratio0.51
Current Ratio0.98
Quick Ratio0.98
Price-To-Earnings
Trailing P/E Ratio12.65
Forward P/E Ratio11.37
P/E Growth2.3
Sales & Book Value
Annual Sales$143.34 million
Price / Sales6.03
Cash Flow$1.6009 per share
Price / Cash12.78
Book Value$21.81 per share
Price / Book0.94
Profitability
EPS (Most Recent Fiscal Year)$1.62
Net Income$70.43 million
Net Margins48.51%
Return on Equity8.01%
Return on Assets4.51%
Miscellaneous
EmployeesN/A
Outstanding Shares42,260,000
Market Cap$873.95 million
OptionableN/A
Solar Capital (NASDAQ:SLRC) Frequently Asked Questions
What is Solar Capital's stock symbol?
Solar Capital trades on the NASDAQ under the ticker symbol "SLRC."
How often does Solar Capital pay dividends? What is the dividend yield for Solar Capital?
Solar Capital announced a quarterly dividend on Thursday, August 2nd. Shareholders of record on Thursday, September 20th will be paid a dividend of $0.41 per share on Tuesday, October 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 7.96%. The ex-dividend date is Wednesday, September 19th. View Solar Capital's Dividend History.
How were Solar Capital's earnings last quarter?
Solar Capital Ltd. (NASDAQ:SLRC) posted its quarterly earnings data on Monday, August, 6th. The financial services provider reported $0.45 EPS for the quarter, missing the Zacks' consensus estimate of $0.46 by $0.01. The financial services provider had revenue of $39.19 million for the quarter, compared to the consensus estimate of $38.17 million. Solar Capital had a net margin of 48.51% and a return on equity of 8.01%. View Solar Capital's Earnings History.
When is Solar Capital's next earnings date?
What price target have analysts set for SLRC?
5 analysts have issued twelve-month target prices for Solar Capital's shares. Their predictions range from $23.00 to $25.00. On average, they anticipate Solar Capital's stock price to reach $24.00 in the next twelve months. This suggests a possible upside of 16.4% from the stock's current price. View Analyst Price Targets for Solar Capital.
What is the consensus analysts' recommendation for Solar Capital?
5 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Solar Capital in the last year. There are currently 1 hold rating and 4 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Solar Capital.
What are Wall Street analysts saying about Solar Capital stock?
Here are some recent quotes from research analysts about Solar Capital stock:
- 1. According to Zacks Investment Research, "Solar Capital Ltd. is a closed-end investment company that invests primarily in leveraged companies, including middle market companies, in the form of senior secured loans, mezzanine loans, and equity securities. " (10/10/2018)
- 2. National Securities analysts commented, " For 2Q18 SLRC had $0.45/share of NII versus our estimate of $0.46 and the dividend of $0.41. We expect that Solar will be able to maintain a stable overall effective yield and that combined with increased balance sheet leverage and ROE serve to boost earnings. Accordingly, we think the dividend can be increased again in 2019 with a comfortably low NII payout ratio of 87% by our estimates.
The company’s Board approved reduced asset coverage and stated that it’s going to target 0.90x-1.25x D/E. Solar announced that it would take a 100 bps base fee on assets purchased with leverage over 1.00x, which we view as a positive move but a distant second to the permanent and outright reduction in base fees concomitant with increased leverage approval.
Solar announced its intent to bring its SSLP on balance sheet and free up the 30% basket to potentially make more specialty finance acquisitions. This is a creative move and one that Solar is familiar with having been successful in acquiring another lending business uncorrelated to all the other current revenue streams the company currently has. While we don’t want to guess at what types of non-qualifying lending platforms the company may acquire and when, we do expect management to do it right as it has in the past with acquisitions.
Solar continues to be one of the most disciplined credit investors in the sector and management guided towards reduced middle market cash flow loans but sounded upbeat on ABL prospects with that portfolio experiencing net growth in the quarter. While it’s difficult to have continual net growth in ABL given the rapid repayments we expect that these loans in conjunction with NEF and life sciences loans will offset any slowdown in cash flow lending.
We are revising our 2018 NII/share estimate to $1.82 from $1.86 and our 2019 NII/share estimate to $1.95 from $1.98 and maintaining our BUY rating and $25 price target." (8/9/2018)
Who are some of Solar Capital's key competitors?
Some companies that are related to Solar Capital include DNP Select Income Fund (DNP), Nuveen Municipal Value Fund (NUV), Adams Diversified Equity Fund (ADX), Gabelli Equity Trust (GAB), Tri-Continental (TY), Tortoise Energy Infrastructure (TYG), PIMCO Corporate&Income Opportunity Fund (PTY), Royce Value Trust (RVT), Liberty All-Star Equity Fund (USA), Hercules Capital (HTGC), Boulder Growth & Income Fund (BIF), Apollo Investment (AINV), PIMCO High Income Fund (PHK), AllianceBernstein Global Hgh Incm Fd (AWF) and General American Investors (GAM).
Who are Solar Capital's key executives?
Solar Capital's management team includes the folowing people:
- Mr. Michael S. Gross, Chairman, Pres & CEO (Age 56)
- Mr. Bruce J. Spohler, Chief Operating Officer (Age 57)
- Mr. Richard L. Peteka, Treasurer, Sec. & CFO (Age 56)
- Mr. Richard R. Pivirotto Jr., Investor Relations
- Mr. Guy Francis Talarico J.D., Chief Compliance Officer (Age 63)
Who are Solar Capital's major shareholders?
Which major investors are selling Solar Capital stock?
How do I buy shares of Solar Capital?
Shares of SLRC can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Solar Capital's stock price today?
One share of SLRC stock can currently be purchased for approximately $20.61.
How big of a company is Solar Capital?
Solar Capital has a market capitalization of $873.95 million and generates $143.34 million in revenue each year. The financial services provider earns $70.43 million in net income (profit) each year or $1.62 on an earnings per share basis.
What is Solar Capital's official website?
How can I contact Solar Capital?
Solar Capital's mailing address is 500 PARK AVENUE 3RD FLOOR, NEW YORK NY, 10022. The financial services provider can be reached via phone at 212-993-1670 or via email at [email protected]
MarketBeat Community Rating for Solar Capital (NASDAQ SLRC)
MarketBeat's community ratings are surveys of what our community members think about Solar Capital and other stocks. Vote "Outperform" if you believe SLRC will outperform the S&P 500 over the long term. Vote "Underperform" if you believe SLRC will underperform the S&P 500 over the long term. You may vote once every thirty days.
