Analysts Anticipate Monroe Capital Corp (NASDAQ:MRCC) Will Announce Quarterly Sales of $15.41 Million

Brokerages expect Monroe Capital Corp (NASDAQ:MRCC) to announce sales of $15.41 million for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for Monroe Capital’s earnings. The highest sales estimate is $16.86 million and the lowest is $13.92 million. Monroe Capital reported sales of $16.72 million in the same quarter last year, which indicates a negative year over year growth rate of 7.8%. The firm is expected to issue its next earnings report on Tuesday, August 4th.

On average, analysts expect that Monroe Capital will report full-year sales of $61.84 million for the current financial year, with estimates ranging from $55.60 million to $67.78 million. For the next year, analysts forecast that the company will report sales of $62.42 million, with estimates ranging from $52.63 million to $69.85 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow Monroe Capital.

Monroe Capital (NASDAQ:MRCC) last issued its quarterly earnings data on Friday, May 8th. The financial services provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Monroe Capital had a negative net margin of 37.41% and a positive return on equity of 11.94%. The company had revenue of $15.00 million for the quarter, compared to the consensus estimate of $16.35 million.

A number of equities research analysts recently weighed in on MRCC shares. Zacks Investment Research raised Monroe Capital from a “sell” rating to a “hold” rating in a research report on Monday, May 4th. ValuEngine downgraded Monroe Capital from a “hold” rating to a “sell” rating in a research report on Tuesday, March 24th. B. Riley dropped their price objective on Monroe Capital from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 24th. Oppenheimer lowered their price target on Monroe Capital from $13.00 to $10.00 and set an “outperform” rating for the company in a report on Monday, April 13th. Finally, Janney Montgomery Scott downgraded Monroe Capital from a “buy” rating to a “neutral” rating in a report on Wednesday, April 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Monroe Capital has a consensus rating of “Hold” and an average target price of $8.33.

MRCC stock traded up $0.19 during trading on Monday, reaching $7.17. 112,342 shares of the company traded hands, compared to its average volume of 214,402. Monroe Capital has a 12 month low of $3.56 and a 12 month high of $12.17. The business has a 50 day simple moving average of $7.28 and a 200 day simple moving average of $9.64. The company has a market capitalization of $146.56 million, a price-to-earnings ratio of -5.83 and a beta of 1.30. The company has a debt-to-equity ratio of 1.99, a quick ratio of 4.40 and a current ratio of 4.40.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, June 15th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 13.95%. The ex-dividend date of this dividend is Friday, June 12th. Monroe Capital’s dividend payout ratio is presently 98.59%.

In other news, Director Jeffrey D. Steele acquired 8,835 shares of Monroe Capital stock in a transaction dated Tuesday, March 17th. The stock was purchased at an average cost of $3.94 per share, for a total transaction of $34,809.90. Following the completion of the purchase, the director now directly owns 36,835 shares in the company, valued at approximately $145,129.90. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Aaron Daniel Peck acquired 4,000 shares of Monroe Capital stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $8.30 per share, with a total value of $33,200.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 41,095 shares of company stock valued at $327,437. Corporate insiders own 2.30% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in shares of Monroe Capital by 153.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 2,533 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 1,533 shares during the last quarter. GYL Financial Synergies LLC raised its stake in shares of Monroe Capital by 5.0% in the first quarter. GYL Financial Synergies LLC now owns 36,531 shares of the financial services provider’s stock worth $259,000 after purchasing an additional 1,744 shares during the last quarter. Rockefeller Capital Management L.P. purchased a new position in shares of Monroe Capital in the fourth quarter worth about $25,000. Wells Fargo & Company MN raised its stake in shares of Monroe Capital by 17.5% in the first quarter. Wells Fargo & Company MN now owns 16,243 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 2,424 shares during the last quarter. Finally, North Star Investment Management Corp. raised its stake in shares of Monroe Capital by 24.2% in the first quarter. North Star Investment Management Corp. now owns 20,433 shares of the financial services provider’s stock worth $145,000 after purchasing an additional 3,983 shares during the last quarter. Hedge funds and other institutional investors own 20.43% of the company’s stock.

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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Earnings History and Estimates for Monroe Capital (NASDAQ:MRCC)

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