Solar Capital Ltd. is a closed-end, externally managed, non-diversified management investment company. The Company's investment objective is to generate both current income and capital appreciation through debt and equity investments. It invests in privately held the United States middle market companies. It invests in leveraged middle market companies in the form of senior secured loans, unitranche loans, mezzanine loans and equity securities. It may also invest in public companies that are thinly traded. Its business is focused primarily on the direct origination of investments through portfolio companies or their financial sponsors. Its investments generally range between $5 million and $100 million each. In addition, the Company may invest a portion of its portfolio in other types of investments, which it refers to as opportunistic investments. The Company's investment activities are managed by Solar Capital Partners, LLC (Solar Capital Partners or the Investment Advisor).
Industry, Sector and Symbol:
- Sector: Finance
- Industry: Closed End Funds
- Sub-Industry: Asset Management & Custody Banks
- Symbol: NASDAQ:SLRC
- CUSIP: 83413U10
- Web: www.solarcapltd.com
- 50 Day Moving Avg: $21.80
- 200 Day Moving Avg: $21.93
- 52 Week Range: $19.26 - $22.94
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 12.06
- P/E Growth: 2.64
- Annual Dividend: $1.60
- Dividend Yield: 7.2%
- Net Margins: 62.94%
- Return on Equity: 7.70%
- Return on Assets: 4.16%
- Debt-to-Equity Ratio: 0.41%
- Current Ratio: 0.93%
- Quick Ratio: 0.93%
- Average Volume: 102,060 shs.
- Beta: 0.55
Frequently Asked Questions for Solar Capital (NASDAQ:SLRC)
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, May 4th. Stockholders of record on Thursday, June 22nd will be paid a dividend of $0.40 per share on Wednesday, July 5th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 7.29%. The ex-dividend date is Tuesday, June 20th. View Solar Capital's Dividend History.
How were Solar Capital's earnings last quarter?
Solar Capital Ltd. (NASDAQ:SLRC) issued its quarterly earnings results on Tuesday, May, 2nd. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.03. The firm had revenue of $34.39 million for the quarter, compared to the consensus estimate of $36.24 million. Solar Capital had a net margin of 62.94% and a return on equity of 7.70%. View Solar Capital's Earnings History.
When will Solar Capital make its next earnings announcement?
Where is Solar Capital's stock going? Where will Solar Capital's stock price be in 2017?
7 brokerages have issued 12 month price objectives for Solar Capital's stock. Their predictions range from $20.00 to $24.00. On average, they expect Solar Capital's share price to reach $22.40 in the next year. View Analyst Ratings for Solar Capital.
What are 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. " (7/12/2017)
- 2. National Securities analysts commented, "• NII/share fell a penny short of the $0.40/share quarterly dividend and our estimate of $0.42. However, we note that the quarter was negatively impacted by a $536,000 ($0.01/share) expense related to the issuance of the 2022 unsecured notes. Despite the lackluster earnings, balance sheet leverage remains significantly under SLRC’s target of 0.75x (at 0.41x as of 3/31/17) and that the joint ventures (JV) are not fully ramped. We expect the increased balance sheet leverage, full utilization of JVs, and the different strategies of cash flow middle market lending, ABL (asset-based lending) through Crystal Financial, and the life sciences lending platform have the ability to drive significant portfolio growth the next two years.
• SLRC’s asset quality remains very strong and we expect this will continue. Solar has proven that they are a credit investor, not asset gatherer, and have been very disciplined with not putting capital to work for the sake of growing the portfolio. This conservative credit approach is evident in the very strong asset quality at Solar, with the company having a single loan on non-accrual representing 64 bps of the portfolio at amortized cost.
• We are revising out 2017 NII/share estimate to $1.71 from $1.75 and our 2018 NII/share estimate to $1.83 from $1.85.
Who are some of Solar Capital's key competitors?
Some companies that are related to Solar Capital include 3i Infrastructure PLC (3IN), Hercules Capital (HTGC), Triangle Capital Corporation (TCAP), Ithaca Energy (IAE), Foresight Solar Fund Ltd (FSFL), TICC Capital Corp. (TICC), KCAP Financial (KCAP), GLI Finance Ltd (GLIF), Andalas Energy and Power PLC (ADL), Alcentra Capital Corp. (ABDC), American Capital Senior Floating (ACSF), Andalas Energy and Power PLC (CEB), Apollo Investment Corporation (AINV), Ares Capital Corporation (ARCC), BlackRock Capital Investment Corporation (BKCC), BlackRock Enhanced Global Dividend Trust (BOE), BlackRock LT Municipal Advantage Trust (BTA) and Blackrock Taxable Municipal Bond Trust (BBN).
Who are Solar Capital's key executives?
Solar Capital's management team includes the folowing people:
- Michael S. Gross, Chairman of the Board, President, Chief Executive Officer
- Richard L. Peteka, Chief Financial Officer, Treasurer, Secretary
- Bruce J. Spohler, Chief Operating Officer, Director
- Guy F. Talarico, Chief Compliance Officer
- Steven Hochberg, Independent Director
- Leonard A. Potter, Independent Director
- David S. Wachter, Independent Director
Who owns Solar Capital stock?
Solar Capital's stock is owned by a variety of of retail and institutional investors. Top institutional shareholders include Confluence Investment Management LLC (0.00%), Sumitomo Mitsui Asset Management Company LTD (0.00%), Clear Harbor Asset Management LLC (0.00%), Bank of Montreal Can (0.00%), Meritage Portfolio Management (0.00%) and Acadian Asset Management LLC (0.00%). Company insiders that own Solar Capital stock include Bruce J Spohler, David Wachter, Michael S Gross and Steven Hochberg. View Institutional Ownership Trends for Solar Capital.
Who sold Solar Capital stock? Who is selling Solar Capital stock?
Solar Capital's stock was sold by a variety of institutional investors in the last quarter, including Bank of Montreal Can, Sumitomo Mitsui Asset Management Company LTD, Confluence Investment Management LLC, Meritage Portfolio Management and Clear Harbor Asset Management LLC. View Insider Buying and Selling for Solar Capital.
Who bought Solar Capital stock? Who is buying Solar Capital stock?
Solar Capital's stock was acquired by a variety of institutional investors in the last quarter, including Acadian Asset Management LLC and Russell Investments Group Ltd.. Company insiders that have bought Solar Capital stock in the last two years include Bruce J Spohler, David Wachter, Michael S Gross and Steven Hochberg. View Insider Buying and Selling for Solar Capital.
How do I buy Solar Capital stock?
Shares of Solar Capital can be purchased through any online brokerage account. Popular online brokerages include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Solar Capital's stock price today?
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 the stock will outperform the S&P 500 over the long term. Vote "Underperform" if you believe the stock will underperform the S&P 500 over the long term. You may vote once every thirty days.
One share of Solar Capital stock can currently be purchased for approximately $21.95.
Consensus Ratings for Solar Capital (NASDAQ:SLRC) (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus ratings using the most recent rating from each brokerage that has rated a stock within the last twelve months. Since brokers often use different ratings systems, each rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings. Each stock's consensus rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months.
MarketBeat will no longer include ratings and price target data in its consensus calculation if a broker drops coverage and MarketBeat has received a report that coverage was dropped. Ratings from certain research firms that issue ratings using purely quantitative methods (such as Zacks, Vetr and ValuEngine) are not included in consensus calculations. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
|Ratings Breakdown: ||4 Hold Ratings, 3 Buy Ratings|
|Consensus Rating:||Hold (Score: 2.43)|
|Consensus Price Target: ||$22.40 (2.05% upside)|
Analysts' Ratings History for Solar Capital (NASDAQ:SLRC)
(Data available from 7/26/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|5/8/2017||National Securities||Reiterated Rating||Buy||$24.00||Low|
|5/1/2017||J P Morgan Chase & Co||Downgrade||Overweight -> Neutral||$23.00||Medium|
|2/24/2017||Ladenburg Thalmann Financial Services||Downgrade||Buy -> Neutral||N/A|
|1/3/2017||Compass Point||Initiated Coverage||Buy||$22.40||N/A|
|8/16/2016||Citigroup Inc.||Boost Price Target||Neutral||$17.00 -> $20.00||N/A|
|8/4/2016||Deutsche Bank AG||Boost Price Target||Buy||$23.00 -> $23.50||N/A|
|8/3/2016||Keefe, Bruyette & Woods||Set Price Target||Hold||$20.00 -> $21.50||N/A|
|2/25/2016||Cantor Fitzgerald||Reiterated Rating||Buy||$21.00||N/A|
|9/30/2015||Bear Stearns||Initiated Coverage||Buy||$20.00||N/A|
|9/30/2015||DA Davidson||Initiated Coverage||Buy||$20.00||N/A|
Earnings History for Solar Capital (NASDAQ:SLRC)Earnings History by Quarter for Solar Capital (NASDAQ SLRC)
(Data available from 1/1/2011 forward)
|Date||Quarter||Consensus Estimate||Actual EPS||Revenue Estimate||Actual Revenue||Release Link||Conference Call||Details|
|5/2/2017||Q1 2017||$0.42||$0.39||$36.24 million||$34.39 million||View||Listen|
|2/22/2017||Q4 2016||$0.42||$0.42||$36.74 million||$36.64 million||View||Listen|
|8/2/2016||Q2||$0.41||$0.46||$36.52 million||$41.37 million||View||Listen|
|5/3/2016||Q116||$0.40||$0.67||$34.97 million||$34.01 million||View||N/A|
|2/24/2016||Q415||$0.40||$0.40||$33.43 million||$31.51 million||View||Listen|
|11/3/2015||Q3||$0.39||$0.40||$32.23 million||$30.45 million||View||Listen|
|8/4/2015||Q2||$0.38||$0.38||$29.27 million||$27.98 million||View||Listen|
|5/5/2015||Q115||$0.39||$0.34||$29.35 million||$25.63 million||View||Listen|
|2/25/2015||Q414||$0.39||$0.40||$30.14 million||$32.95 million||View||Listen|
|11/4/2014||Q313||$0.39||$0.39||$30.11 million||$28.36 million||View||Listen|
|8/4/2014||$0.40||$0.38||$30.74 million||$28.00 million||View||Listen|
|5/5/2014||Q213||$0.40||$0.31||$33.32 million||$32.63 million||View||Listen|
|5/7/2013||Q1 2013||$0.58||$0.58||$45.98 million||View||Listen|
Earnings Estimates for Solar Capital (NASDAQ:SLRC)
2017 EPS Consensus Estimate: $1.76
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Solar Capital (NASDAQ:SLRC)
|Most Recent Dividend:||7/5/2017|
|Payout Ratio:||70.48% (Trailing 12 Months of Earnings) |
96.39% (Based on This Year's Estimates)
87.91% (Based on Next Year's Estimates)
Dividend History by Quarter for Solar Capital (NASDAQ SLRC)
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Insider Trading and Institutional Ownership History for Solar Capital (NASDAQ:SLRC)
Insider Ownership Percentage: 5.90%Insider Trades by Quarter for Solar Capital (NASDAQ:SLRC)
Institutional Ownership Percentage: 62.41%
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Details|
|3/2/2017||Michael S Gross||Insider||Buy||19,666||$22.28||$438,158.48|| |
|5/12/2016||Steven Hochberg||Director||Buy||12,000||$18.32||$219,840.00|| |
|3/1/2016||Michael S Gross||Insider||Buy||49,580||$17.23||$854,263.40|| |
|2/29/2016||David Wachter||Director||Buy||5,000||$16.90||$84,500.00|| |
|12/11/2015||Bruce J Spohler||Insider||Buy||9,500||$16.95||$161,025.00|| |
|12/10/2015||Michael S Gross||Insider||Buy||11,900||$17.24||$205,156.00|| |
|12/9/2015||Michael S. Gross||insider||Buy||1,727||$17.24||$29,773.48|| |
|12/8/2015||Michael S. Gross||insider||Buy||872||$17.19||$14,989.68|| |
|12/7/2015||Michael S. Gross||insider||Buy||20,000||$17.37||$347,400.00|| |
|11/19/2015||Bruce J Spohler||Insider||Buy||2,500||$17.65||$44,125.00|| |
|11/18/2015||Bruce J. Spohler||insider||Buy||2,000||$17.55||$35,100.00|| |
|11/16/2015||Michael S Gross||Insider||Buy||20,000||$17.53||$350,600.00|| |
|5/14/2015||Michael S Gross||Insider||Buy||29,500||$18.75||$553,125.00|| |
|3/3/2015||Bruce J Spohler||Insider||Buy||52,236||$20.25||$1,057,779.00|| |
|12/15/2014||Michael S Gross||Insider||Buy||28,000||$17.68||$495,040.00|| |
|12/11/2014||Michael S Gross||Insider||Buy||29,000||$17.82||$516,780.00|| |
|3/5/2014||Michael Gross||Insider||Buy||78,989||$22.27||$1,759,085.03|| |
Headline Trends for Solar Capital (NASDAQ:SLRC)
Latest Headlines for Solar Capital (NASDAQ:SLRC)
Solar Capital (SLRC) Chart for Wednesday, July, 26, 2017