SLR Investment Corp. Plans Quarterly Dividend of $0.41 (NASDAQ:SLRC)

SLR Investment Corp. (NASDAQ:SLRC) declared a quarterly dividend on Wednesday, November 6th,Zacks Dividends reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.41 per share by the financial services provider on Friday, December 27th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 10.31%. The ex-dividend date of this dividend is Friday, December 13th.

SLR Investment has a payout ratio of 100.6% meaning 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 $1.62 per share next year, which means the company may not be able to cover its $1.64 annual dividend with an expected future payout ratio of 101.2%.

SLR Investment Stock Performance

SLRC stock opened at $15.90 on Friday. The company has a market cap of $867.50 million, a P/E ratio of 8.98 and a beta of 1.12. SLR Investment has a 1 year low of $14.41 and a 1 year high of $16.77. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.04 and a quick ratio of 1.04. The stock’s fifty day moving average price is $15.30 and its 200-day moving average price is $15.66.

SLR Investment (NASDAQ:SLRC) last released its quarterly earnings results on Wednesday, August 7th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The firm had revenue of $58.98 million for the quarter, compared to the consensus estimate of $58.23 million. SLR Investment had a return on equity of 9.73% and a net margin of 40.89%. During the same period last year, the business posted $0.42 EPS. On average, equities analysts forecast that SLR Investment will post 1.75 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com assumed coverage on SLR Investment in a research note on Tuesday, July 23rd. They issued a “hold” rating on the stock. JPMorgan Chase & Co. downgraded SLR Investment from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $15.50 to $15.00 in a research report on Monday, July 29th. Finally, Wells Fargo & Company lowered their target price on SLR Investment from $13.00 to $12.50 and set an “underweight” rating on the stock in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $15.13.

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.