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
Stock Exchange NASDAQ
Industry Investment offices, not elsewhere classified
Sub-IndustryAsset Management & Custody Banks
SectorFinance
Current SymbolNASDAQ:SLRC
Previous Symbol
CUSIP83413U10
Phone212-993-1670
Debt
Debt-to-Equity Ratio0.52
Current Ratio1.01
Quick Ratio1.01
Price-To-Earnings
Trailing P/E Ratio12.81
Forward P/E Ratio11.66
P/E Growth2.36
Sales & Book Value
Annual Sales$143.34 million
Price / Sales6.12
Cash Flow$1.5994 per share
Price / Cash12.98
Book Value$21.95 per share
Price / Book0.95
Profitability
EPS (Most Recent Fiscal Year)$1.62
Net Income$70.43 million
Net Margins48.83%
Return on Equity8.12%
Return on Assets4.55%
Miscellaneous
EmployeesN/A
Outstanding Shares42,260,000
Market Cap$887.48 million
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 Wednesday, November 7th. Shareholders of record on Thursday, December 20th will be paid a dividend of $0.41 per share on Friday, January 4th. This represents a $1.64 annualized dividend and a yield of 7.90%. The ex-dividend date of this dividend is Wednesday, December 19th. 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 Monday, November, 5th. The financial services provider reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.45 by $0.03. The financial services provider had revenue of $37.01 million for the quarter, compared to analyst estimates of $39.59 million. Solar Capital had a net margin of 48.83% and a return on equity of 8.12%. View Solar Capital's Earnings History.
When is Solar Capital's next earnings date?
What price target have analysts set for SLRC?
4 brokers have issued 1 year target prices for Solar Capital's stock. Their predictions range from $23.00 to $25.00. On average, they anticipate Solar Capital's stock price to reach $24.00 in the next twelve months. This suggests a possible upside of 15.6% 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. " (11/17/2018)
- 2. National Securities analysts commented, " Solar posted $0.44/share of NII for 3Q18, above the $0.41/share quarterly dividend but short of our $0.46/share estimate.
The portfolio at fair value was up modestly on the quarter to $1.41 billion from $1.40 billion Q/Q. The company has been and we expect will likely continue to be one of the most disciplined underwriters in the BDC sector.
As previously discussed, Solar brought its SSLP and SSLP II joint venture programs on balance sheet, adding $226.5 million of senior secured loans to its balance sheet. The company also brought both revolvers pertaining to the SSLPs on its books.
We think this makes sense as it reduces frictional costs and greatly frees up the 30% basket for Solar. This will enable the company to make more strategic lender finance acquisitions going forward.
The company already has four distinct verticals: cash flow middle market lending ABL (asset-based lending), equipment finance, and life sciences lending. We think the company could potentially add another two verticals, although the timing of this is unknown. Solar had spoken with Crystal Financial two years before acquiring the company and had discussions with NEF four years prior to acquiring them.
The company also discussed the expansion of the platform, with Solar Capital Partners now having over $5.5 billion of AUM. We think the increased size and scale of the platform combined with uncorrelated verticals bodes well for SLRC’s earnings going forward.
We are revising our 2018 NII/share estimate to $1.79 from $1.82 and our 2019 NII/share estimate to $1.93 from $1.95 and maintaining our BUY rating and $25 price target." (11/6/2018)
Has Solar Capital been receiving favorable news coverage?
Media headlines about SLRC stock have been trending positive this week, according to InfoTrie Sentiment Analysis. The research group identifies positive and negative news coverage by reviewing 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 nearest to five being the most favorable. Solar Capital earned a daily sentiment score of 2.1 on InfoTrie's scale. They also gave news articles about the financial services provider a news buzz of 3.0 out of 10, indicating that recent news coverage is unlikely to have an impact on the stock's share price in the next few days.
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), Adams Diversified Equity Fund (ADX), Gabelli Equity Trust (GAB), Tri-Continental (TY), Royce Value Trust (RVT), Tortoise Energy Infrastructure (TYG), PIMCO Corporate&Income Opportunity Fund (PTY), Hercules Capital (HTGC), Boulder Growth & Income Fund (BIF), Liberty All-Star Equity Fund (USA), Apollo Investment (AINV), PIMCO High Income Fund (PHK), AllianceBernstein Global Hgh Incm Fd (AWF) and Goldman Sachs BDC (GSBD).
Who are Solar Capital's key executives?
Solar Capital's management team includes the folowing people:
- Mr. Michael S. Gross, Chairman, Pres & CEO (Age 56)
- Mr. Bruce J. Spohler, Chief Operating Officer (Age 57)
- Mr. Richard L. Peteka, Treasurer, Sec. & CFO (Age 56)
- Mr. Richard R. Pivirotto Jr., Investor Relations
- Mr. Guy Francis Talarico J.D., Chief Compliance Officer (Age 63)
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. (1.96%), JPMorgan Chase & Co. (1.96%), Muzinich & Co. Inc. (1.45%), Aristotle Capital Boston LLC (1.28%), Eagle Boston Investment Management Inc. (0.95%) and Credit Suisse AG (0.84%). View Institutional Ownership Trends for Solar Capital.
Which major investors are selling Solar Capital stock?
SLRC stock was sold by a variety of institutional investors in the last quarter, including Muzinich & Co. Inc., Citadel Advisors LLC, Morgan Stanley, Advisors Asset Management Inc., Wells Fargo & Company MN, Sumitomo Mitsui Asset Management Company LTD, Advisory Research Inc. and AXA. View Insider Buying and Selling for Solar Capital.
Which major investors are buying Solar Capital stock?
SLRC stock was bought by a variety of institutional investors in the last quarter, including JPMorgan Chase & Co., JPMorgan Chase & Co., Cliffwater LLC, Resource America Inc., Aristotle Capital Boston LLC, Pekin Singer Strauss Asset Management IL, Mirae Asset Global Investments Co. Ltd. and Chicago Partners Investment Group LLC. 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 $20.76.
How big of a company is Solar Capital?
Solar Capital has a market capitalization of $887.48 million and generates $143.34 million in revenue each year. The financial services provider earns $70.43 million in net income (profit) each year or $1.62 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.
