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.
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Industry, Sector and Symbol
Industry Investment offices, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
Phone212-993-1670
Debt
Price-To-Earnings
Sales & Book Value
Annual Sales$153.53 million
Profitability
Miscellaneous
EmployeesN/A
Next Earnings Date11/4/2019 (Estimated)
OptionableOptionable
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 declared a quarterly dividend on Monday, August 5th. Stockholders of record on Thursday, September 19th will be paid a dividend of $0.41 per share on Wednesday, October 2nd. This represents a $1.64 annualized dividend and a dividend yield of 8.05%. The ex-dividend date is Wednesday, September 18th. View Solar Capital's Dividend History.
How were Solar Capital's earnings last quarter?
Solar Capital Ltd. (NASDAQ:SLRC) posted its quarterly earnings results on Monday, August, 5th. The financial services provider reported $0.44 EPS for the quarter, hitting the Zacks' consensus estimate of $0.44. The financial services provider had revenue of $38.68 million for the quarter, compared to analysts' expectations of $40.38 million. Solar Capital had a net margin of 46.63% and a return on equity of 7.97%. View Solar Capital's Earnings History.
When is Solar Capital's next earnings date?
What price target have analysts set for SLRC?
4 equities research analysts have issued 12 month price targets for Solar Capital's stock. Their forecasts range from $19.00 to $25.00. On average, they expect Solar Capital's stock price to reach $22.3750 in the next year. This suggests a possible upside of 9.8% from the stock's current price. View Analyst Price Targets for Solar Capital.
What is the consensus analysts' recommendation for Solar Capital?
4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Solar Capital in the last year. There are currently 1 hold rating and 3 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. " (8/21/2019)
- 2. National Securities analysts commented, "▪ SLRC earned $0.44/share of NII for 1Q19, a penny shy of our estimate but comfortably above the $0.41/share quarterly dividend. The dividend is being comfortably out-earned even with a balance sheet that is underleveraged with minimal prepayment-related income (both fees and acceleration of unamortized OID). This leads us to expect an increase in the quarterly dividend by a penny per share both in 2019 and 2020 with payout ratios remaining conservative.
▪ NAV/share bounced back to $21.93 from $21.75 Q/Q as credit spreads tightened for the 3/31/19 quarter. We expect NAV/share to steadily improve courtesy of an out-earned dividend and what we expect will be a continuation of very strong asset quality. We regard Solar as one of the most disciplined credit investors in the BDC sector.
▪ The revenue stream at Solar remains arguably the most diversified in the entire sector. In 1Q19, 31.1% was from cash flow lending, 31.2% from asset-based lending (ABL), 14.2% from equipment financing, and 23.5% from life sciences lending. This permits Solar to maintain both yield and volume even during periods of material spread compression and poor terms that have plagued middle market cash flow lending. We see this is as a significant advantage for the company and one that we do not believe the market fully appreciates.
▪ The 30% basket has been freed up significantly since 3Q18 when JVs were brought on-balance sheet and the company will likely continue to evaluate more specialty finance platform acquisitions. Although we do not model in an acquisition as we are unsure of what this could look like and when it could take place, any such acquisition could further diversify SLRC’s revenue stream and lead us to expect greater portfolio growth than we currently anticipate.
▪ We are revising our 2019 NII/share estimate to $1.81 from $1.86 and are our 2020 NII/share estimate to $1.96 from $2.00. We are maintaining our BUY rating and $25 price target." (5/8/2019)
Has Solar Capital been receiving favorable news coverage?
Media coverage about SLRC stock has trended positive this week, according to InfoTrie Sentiment Analysis. The research group ranks the sentiment of press coverage by monitoring more than six thousand news and blog sources in real time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores closest to five being the most favorable. Solar Capital earned a media sentiment score of 2.5 on InfoTrie's scale. They also gave news stories about the financial services provider a news buzz of 6.0 out of 10, meaning that recent press coverage is somewhat likely to have an effect on the company's share price in the immediate future. View News Stories for Solar Capital.
Are investors shorting Solar Capital?
Solar Capital saw a decline in short interest in July. As of July 31st, there was short interest totalling 79,600 shares, a decline of 12.5% from the June 30th total of 91,000 shares. Based on an average trading volume of 82,900 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.2% of the shares of the stock are sold short. View Solar Capital's Current Options Chain.
Who are some of Solar Capital's key competitors?
Some companies that are related to Solar Capital include Nuveen Municipal Value Fund (NUV), Adams Diversified Equity Fund (ADX), PIMCO Corporate&Income Opportunity Fund (PTY), Gabelli Equity Trust (GAB), Tri-Continental (TY), Hercules Capital (HTGC), Royce Value Trust (RVT), Liberty All-Star Equity Fund (USA), Tortoise Energy Infrastructure (TYG), Boulder Growth & Income Fund (BIF), Apollo Investment (AINV), PIMCO High Income Fund (PHK), AllianceBernstein Global Hgh Incm Fd (AWF), Blackrock Muniyield Insured Fund (MYI) and General American Investors (GAM).
What other stocks do shareholders of Solar Capital own?
Who are Solar Capital's key executives?
Solar Capital's management team includes the folowing people:
- Mr. Michael S. Gross, Chairman, Pres & CEO (Age 57)
- Mr. Richard L. Peteka, Treasurer, Sec. & CFO (Age 57)
- Mr. Richard R. Pivirotto Jr., Investor Relations
- Mr. Guy Francis Talarico J.D., Chief Compliance Officer (Age 64)
- Mr. Anthony Storino, Head of Healthcare Venture Lending
Who are Solar Capital's major shareholders?
Solar Capital's stock is owned by many different of retail and institutional investors. Top institutional investors include JPMorgan Chase & Co. (2.39%), UBS Group AG (1.79%), Partners Group Holding AG (1.49%), Confluence Investment Management LLC (1.07%), Morgan Stanley (0.96%) and United Services Automobile Association (0.77%). Company insiders that own Solar Capital stock include Michael S Gross and Steven Hochberg. View Institutional Ownership Trends for Solar Capital.
Which institutional investors are selling Solar Capital stock?
SLRC stock was sold by a variety of institutional investors in the last quarter, including Marshall Wace LLP, Confluence Investment Management LLC, UBS Group AG, Russell Investments Group Ltd., Morgan Stanley, Texas Yale Capital Corp., Mckinley Capital Management LLC Delaware and Keeley Teton Advisors LLC. View Insider Buying and Selling for Solar Capital.
Which institutional investors are buying Solar Capital stock?
SLRC stock was bought by a variety of institutional investors in the last quarter, including Virtus ETF Advisers LLC, United Capital Financial Advisers LLC, JPMorgan Chase & Co., Acadian Asset Management LLC, Cliffwater LLC, Intrinsic Edge Capital Management LLC, Van ECK Associates Corp and Peapack Gladstone Financial Corp. Company insiders that have bought Solar Capital stock in the last two years include Michael S Gross and Steven Hochberg. View Insider Buying and Selling for Solar Capital.
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 $20.37.
How big of a company is Solar Capital?
Solar Capital has a market capitalization of $860.84 million and generates $153.53 million in revenue each year. The financial services provider earns $66.87 million in net income (profit) each year or $1.77 on an earnings per share basis. View Additional Information About Solar Capital.
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.
