SLR Investment Corp. (SLRC) To Go Ex-Dividend on March 14th

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Tuesday, February 25th, Wall Street Journal reports. Shareholders of record on Friday, March 14th will be paid a dividend of 0.41 per share by the financial services provider on Friday, March 28th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 9.50%. The ex-dividend date of this dividend is Friday, March 14th.

SLR Investment has a dividend payout ratio of 100.6% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect SLR Investment to earn $1.65 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 99.4%.

SLR Investment Trading Up 0.4 %

Shares of NASDAQ:SLRC traded up $0.07 during midday trading on Thursday, reaching $17.27. The company’s stock had a trading volume of 187,770 shares, compared to its average volume of 157,941. The firm has a market cap of $942.25 million, a price-to-earnings ratio of 9.76 and a beta of 1.14. The business has a 50 day moving average price of $16.76 and a 200 day moving average price of $16.05. SLR Investment has a 1 year low of $14.41 and a 1 year high of $17.85. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.11.

SLR Investment (NASDAQ:SLRC) last posted its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $55.58 million during the quarter, compared to analysts’ expectations of $57.08 million. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. Research analysts forecast that SLR Investment will post 1.76 EPS for the current year.

Analyst Ratings Changes

Separately, Wells Fargo & Company lifted their price target on shares of SLR Investment from $12.50 to $13.00 and gave the company an “underweight” rating in a report on Tuesday, November 12th. Two research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $15.25.

About SLR Investment

SLR Investment Corp. is a business development company specializing in secured debt (first lien unitranche and second lien), subordinated (unsecured) debt, minority equity, leveraged buyouts, acquisitions, recapitalizations, general refinancing, growth capital and strategic income-oriented control equity investments in leveraged middle market companies.