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: $21.51
- 200 Day Moving Avg: $21.89
- 52 Week Range: $19.26 - $22.94
- Trailing P/E Ratio: N/A
- Foreward P/E Ratio: 11.47
- P/E Growth: 2.57
- Annual Dividend: $1.60
- Dividend Yield: 7.2%
- Net Margins: 54.87%
- Return on Equity: 7.30%
- Return on Assets: 3.96%
- Debt-to-Equity Ratio: 0.32%
- Current Ratio: 1.00%
- Quick Ratio: 1.00%
- Average Volume: 87,870 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, August 3rd. Stockholders of record on Thursday, September 21st will be given a dividend of $0.40 per share on Tuesday, October 3rd. This represents a $1.60 annualized dividend and a dividend yield of 7.75%. The ex-dividend date is Wednesday, September 20th. 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 Tuesday, August, 1st. The company reported $0.38 EPS for the quarter, missing the Thomson Reuters' consensus estimate of $0.41 by $0.03. The firm had revenue of $33.89 million for the quarter, compared to the consensus estimate of $36.51 million. Solar Capital had a return on equity of 7.30% and a net margin of 54.87%. 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?
5 brokers have issued twelve-month price targets for Solar Capital's stock. Their forecasts range from $22.40 to $24.00. On average, they anticipate Solar Capital's share price to reach $23.10 in the next twelve months. 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. National Securities analysts commented, "• The portfolio at fair value decreased Q/Q to $1.22 billion from $1.32 billion, causing NII/share to fall $0.02/share short of the $0.40/share quarterly dividend. However, on 7/31/17 Solar announced that it had acquired National Equipment Finance (NEF) for $210 million, paying slightly above tangible book value for the company. Importantly, the acquisition adds another specialty finance vertical to SLRC’s arsenal which already has Crystal Financial for ABL (asset-based lending), two unitranche joint ventures (JV), a life sciences JV, and life sciences lending platform.
• Solar remains one of the most disciplined credit investors in the entire BDC sector. Management has had no issue with permitting the portfolio to shrink even if it means earnings come in light. We respect that Solar is not managing the company for the next 90 days, and this is reflected in the pristine asset quality and stable NAV/share. Non-accruals are still confined to one company, Direct Buy, with a cost equivalent to 0.7% of the portfolio. We continue to think SLRC should command a better valuation than it currently has given the NAV stability and earnings drivers the company has.
• We are revising out 2017 NII/share estimate to $1.63 from $1.75 and our 2018 NII/share estimate to $1.82 from $1.83. " (8/7/2017)
- 2. 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)
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), Ithaca Energy (IAE), Triangle Capital Corporation (TCAP), 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 Muzinich & Co. Inc. (0.00%), Yorktown Management & Research Co Inc (0.00%), Wasatch Advisors Inc. (0.00%), JPMorgan Chase & Co. (0.00%), Confluence Investment Management LLC (0.00%) and West Family Investments Inc. (1.13%). 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 Wasatch Advisors Inc., Chicago Partners Investment Group LLC, Wells Fargo & Company MN, Bank of Montreal Can, OxFORD Asset Management LLP, Sumitomo Mitsui Asset Management Company LTD, Nationwide Fund Advisors and AXA. 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 Muzinich & Co. Inc., Acadian Asset Management LLC, Advisors Asset Management Inc., Catalyst Capital Advisors LLC, Goldman Sachs Group Inc., Shelton Capital Management, Cetera Investment Advisers and Partners Group Holding AG. 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 $20.65.
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: ||3 Hold Ratings, 2 Buy Ratings|
|Consensus Rating:||Hold (Score: 2.40)|
|Consensus Price Target: ||$23.10 (11.86% upside)|
Analysts' Ratings History for Solar Capital (NASDAQ:SLRC)
(Data available from 9/19/2015 forward)
|Date||Firm||Action||Rating||Price Target||Impact on Share Price||Details|
|8/7/2017||National Securities||Reiterated Rating||Buy||$24.00||Low|
|8/3/2017||Keefe, Bruyette & Woods||Set Price Target||Hold||$23.00||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|
|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|
|8/1/2017||Q2 2017||$0.41||$0.38||$36.51 million||$33.89 million||View||Listen|
|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: $1.74
(Data provided by Zacks Investment Research)
|Quarter||Number of Estimates||Low Estimate||High Estimate||Average Estimate|
Current Dividend Information for Solar Capital (NASDAQ:SLRC)
|Payout Ratio:||85.11% (Trailing 12 Months of Earnings) |
98.77% (Based on This Year's Estimates)
88.89% (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: 62.75%
(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 Tuesday, September, 19, 2017