B.Riley FBR Sticks to Its Hold Rating for Monroe Capital (MRCC)


B.Riley FBR analyst Timothy P. Hayes reiterated a Hold rating on Monroe Capital (MRCC) today and set a price target of $12.50. The company’s shares closed yesterday at $12.33.

Hayes noted:

“We reiterate our Neutral rating and $12.50 price target on shares of Monroe Capital Corp. (MRCC) following 1Q19 results that came in below our expectations but covered the dividend for the twentieth consecutive quarter. MRCC reported adjusted NII per share of $0.35, missing B. Riley FBR and Street estimates of $0.39 and $0.38, respectively, and covering the $0.35 per share quarterly dividend. During the quarter, the portfolio grew 8% Q/Q, while NAV per share increased by $0.01/share to $12.67 and credit slightly improved. On the conference call, we primarily look for more commentary around credit quality, the pace of LMM portfolio growth, and regulatory leverage, which now stands at 0.99x.”

According to TipRanks.com, Hayes is a 4-star analyst with an average return of 9.7% and a 83.8% success rate. Hayes covers the Financial sector, focusing on stocks such as Saratoga Investment Corp, Starwood Property Trust, and Cherry Hill Mortgage.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Monroe Capital with a $13.75 average price target.

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The company has a one-year high of $14.65 and a one-year low of $9.10. Currently, Monroe Capital has an average volume of 119.8K.

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Monroe Capital Corp. is an externally managed, closed-end, non-diversified management investment company, which engages in the provision of financial solutions. It offers customized financing solutions focused primarily on senior, unitranche and junior secured debt and, to a lesser extent, unsecured subordinated debt and equity, including equity co-investments in preferred and common stock and warrants. The company was founded on February 9, 2011 and is headquartered in Chicago, IL.

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