Sound Point Meridian Capital (SPMC) to Release Quarterly Earnings on Friday

Sound Point Meridian Capital (NYSE:SPMC) is expected to be announcing its results before the market opens on Friday, September 12th. Analysts expect the company to announce earnings of $0.56 per share and revenue of $22.0430 million for the quarter.

Sound Point Meridian Capital (NYSE:SPMC) last announced its quarterly earnings data on Tuesday, August 12th. The company reported $0.53 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.03). The firm had revenue of $19.21 million during the quarter, compared to analysts’ expectations of $20.72 million.

Sound Point Meridian Capital Trading Up 0.1%

Shares of Sound Point Meridian Capital stock opened at $17.89 on Friday. The firm has a market capitalization of $361.81 million, a PE ratio of 12.60 and a beta of 0.26. The business’s 50-day moving average price is $18.00 and its 200-day moving average price is $18.77. Sound Point Meridian Capital has a 12 month low of $16.26 and a 12 month high of $22.30.

Sound Point Meridian Capital Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Friday, November 14th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, November 14th. This represents a c) annualized dividend and a dividend yield of 16.8%. Sound Point Meridian Capital’s dividend payout ratio is 211.27%.

Institutional Investors Weigh In On Sound Point Meridian Capital

An institutional investor recently raised its position in Sound Point Meridian Capital stock. Marshall Wace LLP grew its holdings in Sound Point Meridian Capital, Inc. (NYSE:SPMC) by 35.4% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 77,152 shares of the company’s stock after buying an additional 20,163 shares during the quarter. Marshall Wace LLP owned approximately 0.38% of Sound Point Meridian Capital worth $1,379,000 at the end of the most recent quarter.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SPMC shares. Zacks Research upgraded Sound Point Meridian Capital from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 26th. Alliance Global Partners started coverage on Sound Point Meridian Capital in a research report on Friday, July 18th. They set a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $21.25.

Sound Point Meridian Capital Company Profile

Sound Point Meridian Capital Inc is an externally managed, non-diversified closed-end management investment company. Its investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in third-party collateralized loan obligation equity and mezzanine tranches.