Brokerages expect Monroe Capital Corporation (NASDAQ:MRCC) to post $0.36 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Monroe Capital Corporation’s earnings, with estimates ranging from $0.34 to $0.37. Monroe Capital Corporation posted earnings per share of $0.44 during the same quarter last year, which indicates a negative year over year growth rate of 18.2%. The company is expected to report its next quarterly earnings results on Monday, August 14th.
On average, analysts expect that Monroe Capital Corporation will report full year earnings of $1.45 per share for the current year, with EPS estimates ranging from $1.39 to $1.50. For the next fiscal year, analysts anticipate that the company will report earnings of $1.57 per share, with EPS estimates ranging from $1.46 to $1.62. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that cover Monroe Capital Corporation.
Monroe Capital Corporation (NASDAQ:MRCC) last issued its earnings results on Tuesday, May 9th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The business had revenue of $12.01 million for the quarter, compared to analysts’ expectations of $12.36 million. Monroe Capital Corporation had a return on equity of 10.23% and a net margin of 41.75%.
MRCC has been the topic of a number of analyst reports. Zacks Investment Research downgraded Monroe Capital Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, February 28th. National Securities reissued a “buy” rating and issued a $17.00 price target on shares of Monroe Capital Corporation in a research note on Monday, June 12th. Finally, FBR & Co reissued a “buy” rating and issued a $17.00 price target on shares of Monroe Capital Corporation in a research note on Friday, March 10th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Monroe Capital Corporation has a consensus rating of “Buy” and an average target price of $17.08.
In other news, Chairman Theodore L. Koenig acquired 16,697 shares of the stock in a transaction that occurred on Tuesday, June 13th. The stock was acquired at an average price of $14.95 per share, for a total transaction of $249,620.15. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Jeffrey D. Steele acquired 6,425 shares of the stock in a transaction that occurred on Tuesday, June 20th. The stock was purchased at an average price of $15.00 per share, with a total value of $96,375.00. Following the transaction, the director now owns 18,000 shares in the company, valued at $270,000. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 28,832 shares of company stock valued at $434,443. 1.90% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in MRCC. North Star Investment Management Corp. boosted its stake in Monroe Capital Corporation by 405.4% in the first quarter. North Star Investment Management Corp. now owns 18,700 shares of the financial services provider’s stock worth $294,000 after buying an additional 15,000 shares in the last quarter. Sigma Planning Corp purchased a new stake in Monroe Capital Corporation during the first quarter worth approximately $231,000. Rothschild Investment Corp IL boosted its stake in Monroe Capital Corporation by 1.6% in the first quarter. Rothschild Investment Corp IL now owns 37,050 shares of the financial services provider’s stock worth $583,000 after buying an additional 600 shares in the last quarter. Geneva Advisors LLC boosted its stake in Monroe Capital Corporation by 25.9% in the first quarter. Geneva Advisors LLC now owns 113,487 shares of the financial services provider’s stock worth $1,785,000 after buying an additional 23,341 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD boosted its stake in Monroe Capital Corporation by 90.5% in the first quarter. Sumitomo Mitsui Asset Management Company LTD now owns 364,758 shares of the financial services provider’s stock worth $5,737,000 after buying an additional 173,280 shares in the last quarter. Institutional investors and hedge funds own 27.13% of the company’s stock.
Shares of Monroe Capital Corporation (NASDAQ MRCC) traded up 0.80% during trading on Tuesday, hitting $15.04. The company had a trading volume of 79,835 shares. Monroe Capital Corporation has a 12-month low of $13.60 and a 12-month high of $16.37. The firm has a 50 day moving average of $15.59 and a 200 day moving average of $15.58.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Thursday, June 15th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 9.31%. The ex-dividend date is Tuesday, June 13th. Monroe Capital Corporation’s dividend payout ratio is currently 112.90%.
About Monroe Capital Corporation
Monroe Capital Corporation is a closed-end, non-diversified management investment company. The Company is a specialty finance company focused on providing financing primarily to lower middle-market companies in the United States and Canada. The Company’s investment objective is to maximize the total return to its stockholders in the form of current income and capital appreciation primarily through investments in senior, unitranche and junior secured debt, and unsecured subordinated debt and equity.
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