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
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 Date5/6/2019 (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 Friday, February 22nd. Shareholders of record on Thursday, March 21st will be paid a dividend of $0.41 per share on Wednesday, April 3rd. This represents a $1.64 annualized dividend and a yield of 7.81%. The ex-dividend date is Wednesday, March 20th. View Solar Capital's Dividend History.
How were Solar Capital's earnings last quarter?
Solar Capital Ltd. (NASDAQ:SLRC) posted its earnings results on Thursday, February, 21st. The financial services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The financial services provider had revenue of $38.24 million for the quarter, compared to the consensus estimate of $37.46 million. Solar Capital had a net margin of 43.56% and a return on equity of 8.10%. View Solar Capital's Earnings History.
When is Solar Capital's next earnings date?
What price target have analysts set for SLRC?
3 brokerages have issued 1-year price objectives for Solar Capital's stock. Their predictions range from $19.00 to $25.00. On average, they anticipate Solar Capital's stock price to reach $22.3333 in the next twelve months. This suggests a possible upside of 6.3% from the stock's current price. View Analyst Price Targets for Solar Capital.
What is the consensus analysts' recommendation for Solar Capital?
3 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Solar Capital in the last year. There are currently 1 hold rating and 2 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. " (3/5/2019)
- 2. National Securities analysts commented, "▪ For 4Q18, SLRC earned NII/share of $0.44, a penny sort of our estimate but comfortably above the $0.41/share quarterly dividend. The portfolio at fair value grew modestly on the quarter to $1.46 billion from $1.41 billion but was generally flat Y/Y.
▪ The notable transformation was the composition of SLRC’s comprehensive portfolio. At 12/31/17, the comprehensive portfolio was 43.0% cash flow loans, 23.8% ABL, 18.6% equipment financing, and 12.8% life sciences with the balance in equity and other securities. At 12/31/18, the comprehensive portfolio was 25.9% cash flow loans, 35.5% ABL, 22.2% equipment financing, and 14.6% life sciences with the balance in equity and other securities.
▪ Additionally, during 2018 the company received shareholder approval to reduce asset coverage to 150% from 200% and it brought its SSLPs on-balance sheet which freed up the 30% basket considerably. This will likely enable Solar to make more specialty finance acquisitions if the opportunities present themselves.
▪ Despite a diversified revenue stream that has enabled the company to maintain total effective yield without stretching and taking on more risk shares remain slightly discounted to NAV and we continue to think the market is not appropriately assessing the Sharpe ratio of SLRC’s expected returns. We regard management as one of the most disciplined in the BDC sector and we expect NAV preservation and credit quality to be the highest priorities for the company.
▪ In 2019 we model one dividend increase in 4Q19 and in 2020 we model two dividend increases as the run rate of NII/share likely increases with higher average balance sheet leverage.
▪ We are revising our 2019 NII/share estimate to $1.86 from $1.93 and are rolling out our 2020 NII/share estimate of $2.00. We are maintaining our BUY rating and $25 price target." (2/25/2019)
Has Solar Capital been receiving favorable news coverage?
News coverage about SLRC stock has been trending somewhat negative on Tuesday, according to InfoTrie Sentiment. InfoTrie ranks the sentiment of news coverage by monitoring more than six thousand blog and news sources in real-time. The firm ranks coverage of publicly-traded companies on a scale of negative five to five, with scores nearest to five being the most favorable. Solar Capital earned a coverage optimism score of -1.4 on InfoTrie's scale. They also assigned headlines about the financial services provider a news buzz of 10.0 out of 10, indicating that recent news coverage is extremely likely to have an impact on the company's share price in the near term.
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), Gabelli Equity Trust (GAB), Adams Diversified Equity Fund (ADX), PIMCO Corporate&Income Opportunity Fund (PTY), Tri-Continental (TY), Royce Value Trust (RVT), Tortoise Energy Infrastructure (TYG), Hercules Capital (HTGC), Liberty All-Star Equity Fund (USA), PIMCO High Income Fund (PHK), Boulder Growth & Income Fund (BIF), Apollo Investment (AINV), AllianceBernstein Global Hgh Incm Fd (AWF) and Blackrock Muniyield Insured Fund (MYI).
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 institutional and retail investors. Top institutional investors include Partners Group Holding AG (1.70%), 1832 Asset Management L.P. (1.18%), Confluence Investment Management LLC (1.15%), United Services Automobile Association (0.74%), Van ECK Associates Corp (0.60%) and Mckinley Capital Management LLC Delaware (0.60%). 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 Millennium Management LLC, Two Sigma Advisers LP, D. E. Shaw & Co. Inc., Sumitomo Mitsui Asset Management Company LTD, Keeley Teton Advisors LLC, Shelton Capital Management, SMH Capital Advisors Inc. and Catalyst Capital 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 Partners Group Holding AG, 1832 Asset Management L.P., Sargent Investment Group LLC, Summit Global Investments, Legal & General Group Plc, Pekin Singer Strauss Asset Management IL, Intrinsic Edge Capital Management LLC and Advisors Asset Management Inc.. 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 $21.01.
How big of a company is Solar Capital?
Solar Capital has a market capitalization of $887.88 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.
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.
