Brokerages expect Monroe Capital Corp (NASDAQ:MRCC) to announce sales of $16.30 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Monroe Capital’s earnings, with estimates ranging from $15.75 million to $17.08 million. Monroe Capital posted sales of $14.95 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The business is expected to announce its next earnings results on Tuesday, May 14th.
On average, analysts expect that Monroe Capital will report full year sales of $69.24 million for the current fiscal year, with estimates ranging from $66.19 million to $73.90 million. For the next year, analysts forecast that the company will report sales of $76.12 million, with estimates ranging from $69.64 million to $85.54 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Monroe Capital.
Monroe Capital (NASDAQ:MRCC) last released its earnings results on Tuesday, March 5th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.02. Monroe Capital had a net margin of 10.02% and a return on equity of 11.96%.
In other Monroe Capital news, Chairman Theodore L. Koenig bought 10,700 shares of the firm’s stock in a transaction dated Friday, December 21st. The stock was bought at an average cost of $9.34 per share, with a total value of $99,938.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Aaron Daniel Peck bought 4,500 shares of the firm’s stock in a transaction dated Monday, December 24th. The shares were acquired at an average cost of $9.20 per share, with a total value of $41,400.00. Following the completion of the transaction, the chief financial officer now owns 10,436 shares of the company’s stock, valued at $96,011.20. The disclosure for this purchase can be found here. Over the last three months, insiders have bought 16,400 shares of company stock valued at $152,978. 1.90% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of MRCC. Cliffwater LLC increased its position in shares of Monroe Capital by 65.0% during the third quarter. Cliffwater LLC now owns 210,642 shares of the financial services provider’s stock worth $2,858,000 after acquiring an additional 82,987 shares in the last quarter. BlackRock Inc. grew its position in Monroe Capital by 10.0% in the 3rd quarter. BlackRock Inc. now owns 98,961 shares of the financial services provider’s stock worth $1,343,000 after purchasing an additional 8,959 shares in the last quarter. Mackenzie Financial Corp grew its position in Monroe Capital by 73.1% in the 3rd quarter. Mackenzie Financial Corp now owns 36,387 shares of the financial services provider’s stock worth $494,000 after purchasing an additional 15,369 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Monroe Capital by 16.3% in the 4th quarter. Oppenheimer & Co. Inc. now owns 79,199 shares of the financial services provider’s stock worth $760,000 after purchasing an additional 11,091 shares in the last quarter. Finally, CFO4Life Group LLC bought a new stake in Monroe Capital in the 4th quarter worth about $112,000. 23.78% of the stock is owned by institutional investors.
MRCC stock traded up $0.19 during midday trading on Friday, hitting $12.60. The stock had a trading volume of 490,800 shares, compared to its average volume of 158,834. The firm has a market cap of $257.61 million, a price-to-earnings ratio of 8.03 and a beta of 1.16. The company has a quick ratio of 3.49, a current ratio of 3.49 and a debt-to-equity ratio of 1.21. Monroe Capital has a 1-year low of $9.10 and a 1-year high of $14.65.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 11.11%. The ex-dividend date of this dividend is Thursday, March 14th. Monroe Capital’s dividend payout ratio (DPR) is currently 89.17%.
About Monroe Capital
Monroe Capital Corporation is a business development company specializing in senior, unitranche and junior secured debt and to a lesser extent, unsecured debt and equity investments, and buyouts in middle-market companies. The fund prefers to invest in casinos and gaming, broadcasting, publishing, alcoholic beverage and tobacco distribution, oil and gas, insurance, pharmaceuticals and bio sciences, aerospace and defense, commercial printing, natural rubber, glass, container and packaging, metals and mining, and real estate.
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