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: 12.11
- P/E Growth: 2.64
- Annual Dividend: $1.60
- Dividend Yield: 7.3%
- 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. Shareholders 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 yield of 7.30%. 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) released its quarterly earnings data 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 target prices for Solar Capital's shares. Their predictions range from $20.00 to $24.00. On average, they expect Solar Capital's stock 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 Tortoise Energy Infrastructure Corporation (TYG), Apollo Investment Corporation (AINV), TPG Specialty Lending (TSLX), Golub Capital BDC (GBDC), Liberty All-Star Equity Fund (USA), Hercules Capital (HTGC), New Mountain Finance Corporation (NMFC), TCP Capital Corp. (TCPC), Triangle Capital Corporation (TCAP), Ithaca Energy (IAE), Invesco California Value Municipal Income Trust (VCV), BlackRock Capital Investment Corporation (BKCC), PennantPark Investment Corporation (PNNT), Foresight Solar Fund Ltd (FSFL), PennantPark Floating Rate Capital (PFLT), Fidus Investment Corporation (FDUS), Eagle Point Credit Company (ECC) and Medley Capital Corporation (MCC).
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 number of of institutional and retail investors. Top institutional investors include Confluence Investment Management LLC (0.00%), Bank of Montreal Can (0.00%) and Neville Rodie & Shaw Inc. (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?
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 $21.92.
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 (2.19% upside)|
Analysts' Ratings History for Solar Capital (NASDAQ:SLRC)
(Data available from 7/22/2015 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) |
95.81% (Based on This Year's Estimates)
88.40% (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: 62.42%
(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)
|FS Investment Corporation (FSIC) & Solar Capital (SLRC) Financial Review|
www.americanbankingnews.com - July 21 at 10:22 PM
|Solar Capital Ltd. (SLRC) Upgraded to "Hold" at Zacks Investment Research|
www.americanbankingnews.com - July 12 at 4:47 PM
|$36.51 Million in Sales Expected for Solar Capital Ltd. (NASDAQ:SLRC) This Quarter|
www.americanbankingnews.com - July 6 at 11:08 AM
|Solar Capital Ltd. Schedules the Release of its Financial Results for the Quarter Ended June 30, 2017|
finance.yahoo.com - July 6 at 9:23 AM
|Solar Capital Ltd. (SLRC) Upgraded at Zacks Investment Research|
www.americanbankingnews.com - July 4 at 8:17 AM
|Solar Capital Ltd. (SLRC) Receives Consensus Recommendation of "Hold" from Analysts|
www.americanbankingnews.com - June 30 at 9:10 AM
|Head to Head Contrast: Solar Capital (SLRC) & Intercontinental Exchange (ICE)|
www.americanbankingnews.com - June 19 at 8:24 AM
|$36.51 Million in Sales Expected for Solar Capital Ltd. (SLRC) This Quarter|
www.americanbankingnews.com - June 10 at 8:42 AM
|Solar Capital Ltd. (SLRC) Expected to Post Earnings of $0.41 Per Share|
www.americanbankingnews.com - June 8 at 4:34 PM
|Solar Capital Ltd. (SLRC) Receives Consensus Recommendation of "Hold" from Brokerages|
www.americanbankingnews.com - June 5 at 8:53 AM
|Solar Capital Ltd. (SLRC) Sees Significant Growth in Short Interest|
www.americanbankingnews.com - June 2 at 9:14 AM
|New Strong Sell Stocks for May 19th|
finance.yahoo.com - May 19 at 9:58 AM
|Zacks: Analysts Anticipate Solar Capital Ltd. (SLRC) Will Post Quarterly Sales of $36.51 Million|
www.americanbankingnews.com - May 14 at 9:44 AM
|Zacks: Brokerages Expect Solar Capital Ltd. (SLRC) to Announce $0.41 Earnings Per Share|
www.americanbankingnews.com - May 12 at 2:18 PM
|Solar Capital Ltd. Repays its $75 Million of 5.875% Senior Secured Notes; Reduces Average Interest Expense|
finance.yahoo.com - May 11 at 8:52 PM
|Solar Capital Ltd. (SLRC) Given Average Recommendation of "Hold" by Analysts|
www.americanbankingnews.com - May 9 at 8:46 AM
|Solar Capital's (SLRC) "Buy" Rating Reiterated at National Securities|
www.americanbankingnews.com - May 8 at 12:18 PM
|DA Davidson Weighs in on Solar Capital Ltd.'s Q3 2017 Earnings (SLRC)|
www.americanbankingnews.com - May 8 at 8:50 AM
|Solar Capital Ltd. (SLRC) Lowered to "Sell" at Zacks Investment Research|
www.americanbankingnews.com - May 6 at 7:20 AM
|DA Davidson Research Analysts Reduce Earnings Estimates for Solar Capital Ltd. (SLRC)|
www.americanbankingnews.com - May 5 at 8:02 AM
|Solar Capital Ltd. (SLRC) Declares $0.40 Quarterly Dividend|
www.americanbankingnews.com - May 4 at 9:06 PM
|Edited Transcript of SLRC earnings conference call or presentation 3-May-17 2:00pm GMT|
finance.yahoo.com - May 3 at 11:13 PM
|Solar Capital's (SLRC) CEO Michael Gross on Q1 2017 Results - Earnings Call Transcript|
seekingalpha.com - May 3 at 6:02 PM
|Solar Capital Ltd. (SLRC) Issues Earnings Results|
www.americanbankingnews.com - May 3 at 5:00 PM
|Investor Network: Solar Capital Ltd. to Host Earnings Call|
finance.yahoo.com - May 3 at 10:49 AM
|Solar Capital (SLRC) Earning Favorable News Coverage, Study Shows|
www.americanbankingnews.com - May 3 at 1:01 AM
|Solar Capital Ltd. Announces Quarter Ended March 31, 2017 Financial Results; Declares Quarterly Distribution of $0.40 per Share for Q2, 2017|
finance.yahoo.com - May 2 at 5:42 PM
|Solar Capital misses 1Q profit forecasts|
marketbeat.com - May 2 at 5:21 PM
|Solar Capital Ltd. (SLRC) Downgraded to "Neutral" at JPMorgan Chase & Co.|
www.americanbankingnews.com - May 2 at 12:04 AM
|Solar Capital Ltd. (SLRC) Scheduled to Post Earnings on Tuesday|
www.americanbankingnews.com - April 30 at 9:10 AM
|Solar Capital (SLRC) Earns Media Impact Score of -0.12|
www.americanbankingnews.com - April 24 at 2:18 PM
|Solar Capital Ltd. (SLRC) Expected to Announce Quarterly Sales of $36.24 Million|
www.americanbankingnews.com - April 23 at 8:15 AM
|Zacks: Brokerages Expect Solar Capital Ltd. (SLRC) Will Post Earnings of $0.42 Per Share|
www.americanbankingnews.com - April 21 at 9:10 PM
|Solar Capital Ltd. (SLRC) Given Average Recommendation of "Hold" by Brokerages|
www.americanbankingnews.com - April 14 at 9:57 AM
|Solar Capital Ltd. (SLRC) Stock Rating Lowered by Zacks Investment Research|
www.americanbankingnews.com - April 4 at 12:08 PM
|Solar Capital Ltd. Schedules the Release of its Financial Results for the Quarter Ended March 31, 2017|
finance.yahoo.com - March 31 at 8:08 PM
|Solar Capital Ltd. (SLRC) Ex-Dividend Date Scheduled for March 21, 2017 - Nasdaq|
www.nasdaq.com - March 21 at 7:36 PM
|Solar Capital Ltd. (SLRC) Receives Consensus Rating of "Hold" from Analysts|
www.americanbankingnews.com - March 20 at 11:40 AM
|Insiders Invest in Solar Capital|
finance.yahoo.com - March 6 at 12:29 PM
|Solar Capital downgraded by Ladenburg Thalmann|
finance.yahoo.com - February 24 at 10:20 PM
|Edited Transcript of SLRC earnings conference call or presentation 23-Feb-17 3:00pm GMT|
finance.yahoo.com - February 24 at 7:16 AM
|Solar Capital's (SLRC) CEO Michael Gross on Q4 2016 Results - Earnings Call Transcript - Seeking Alpha|
seekingalpha.com - February 23 at 8:04 PM
|9:15 am Solar Capital and Solar Senior Capital (SUNS) form 'Solar Life Science Program' w/ Deerfield Mgmt. to invest in first lien loans to publicly-traded companies in the U.S. life science industry|
us.rd.yahoo.com - February 22 at 8:04 PM
|Solar Capital Ltd. Announces Quarter and Fiscal Year Ended December 31, 2016 Financial Results; Declares Quarterly Distribution of $0.40 per Share for Q1, 2017|
us.rd.yahoo.com - February 22 at 8:04 PM
|Solar Capital Ltd. and Solar Senior Capital Ltd. Announce the Formation of a First Lien Life Science Loan Program in Partnership With Deerfield Management|
finance.yahoo.com - February 22 at 9:55 AM
|SOLAR CAPITAL LTD|
www.finanznachrichten.de - January 9 at 10:58 PM
|Solar Capital Ltd. Schedules the Release of its Financial Results for the Quarter and Fiscal Year Ended December 31, 2016|
finance.yahoo.com - January 9 at 10:58 PM
|Dancing With the Bond Market Stars|
www.bloomberg.com - December 9 at 7:48 PM
|Solar Capital Ltd. Issues $50 Million of Unsecured Private Notes - MarketWatch|
www.marketwatch.com - November 10 at 10:51 AM
|8:31 am Solar Capital issues $50 mln of five-and-a-half year senior unsecured notes in a private placement with a fixed interest rate of 4.4% and a maturity date of May 8, 2022|
finance.yahoo.com - November 10 at 10:50 AM
Solar Capital (SLRC) Chart for Saturday, July, 22, 2017