Sound Point Meridian Capital, Inc. (NYSE:SPMC) Plans $0.13 Monthly Dividend

Sound Point Meridian Capital, Inc. (NYSE:SPMC - Get Free Report) declared a monthly dividend on Wednesday, August 12th. Investors of record on Friday, November 13th will be paid a dividend of 0.13 per share on Monday, November 30th. This represents a c) annualized dividend and a dividend yield of 15.9%. The ex-dividend date is Friday, November 13th.

Sound Point Meridian Capital Stock Performance

NYSE SPMC traded down $0.93 during trading hours on Wednesday, reaching $9.84. 130,934 shares of the company's stock were exchanged, compared to its average volume of 33,388. The company's 50-day moving average is $10.42 and its two-hundred day moving average is $10.60. Sound Point Meridian Capital has a one year low of $8.36 and a one year high of $18.54. The company has a market capitalization of $201.69 million, a price-to-earnings ratio of -1.60 and a beta of 1.15.

Sound Point Meridian Capital (NYSE:SPMC - Get Free Report) last announced its quarterly earnings results on Wednesday, August 12th. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.30 by ($0.06). Research analysts predict that Sound Point Meridian Capital will post 1.22 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Alliance Global Partners restated a "buy" rating on shares of Sound Point Meridian Capital in a report on Wednesday, May 27th. Zacks Research raised shares of Sound Point Meridian Capital from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 28th. Finally, B. Riley Financial reiterated a "neutral" rating on shares of Sound Point Meridian Capital in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Sound Point Meridian Capital has a consensus rating of "Hold" and a consensus price target of $15.12.

View Our Latest Stock Report on Sound Point Meridian Capital

Sound Point Meridian Capital Company Profile

(Get Free Report)

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. Sound Point Meridian Capital Inc is based in NEW YORK.

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