Monroe Capital Corp (NASDAQ:MRCC) announced a quarterly dividend on Tuesday, September 3rd, NASDAQ reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.35 per share by the financial services provider on Monday, September 30th. This represents a $1.40 annualized dividend and a dividend yield of 13.88%. The ex-dividend date is Friday, September 13th.
Monroe Capital has a payout ratio of 90.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Equities analysts expect Monroe Capital to earn $1.44 per share next year, which means the company should continue to be able to cover its $1.40 annual dividend with an expected future payout ratio of 97.2%.
Shares of NASDAQ:MRCC traded up $0.02 during trading hours on Thursday, hitting $10.09. The stock had a trading volume of 113,200 shares, compared to its average volume of 107,483. The stock’s fifty day simple moving average is $10.74 and its 200 day simple moving average is $11.72. Monroe Capital has a 1-year low of $9.10 and a 1-year high of $14.05. The firm has a market capitalization of $205.83 million, a price-to-earnings ratio of 6.43 and a beta of 1.16. The company has a debt-to-equity ratio of 1.58, a quick ratio of 4.21 and a current ratio of 4.21.
A number of research analysts recently commented on MRCC shares. National Securities reiterated a “neutral” rating and set a $13.00 price objective on shares of Monroe Capital in a research note on Thursday, May 9th. B. Riley set a $12.00 price objective on shares of Monroe Capital and gave the company a “hold” rating in a research note on Tuesday, August 20th. Zacks Investment Research upgraded shares of Monroe Capital from a “sell” rating to a “hold” rating in a research note on Thursday, August 29th. Finally, ValuEngine lowered shares of Monroe Capital from a “hold” rating to a “sell” rating in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $13.00.
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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