Equities research analysts predict that Saratoga Investment Corp (NYSE:SAR) will announce earnings of $0.47 per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Saratoga Investment’s earnings. The lowest EPS estimate is $0.45 and the highest is $0.48. Saratoga Investment reported earnings per share of $0.68 in the same quarter last year, which suggests a negative year-over-year growth rate of 30.9%. The business is expected to announce its next quarterly earnings report on Wednesday, October 14th.
On average, analysts expect that Saratoga Investment will report full year earnings of $2.05 per share for the current year, with EPS estimates ranging from $1.90 to $2.20. For the next financial year, analysts anticipate that the firm will post earnings of $2.01 per share, with EPS estimates ranging from $1.89 to $2.08. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Saratoga Investment.
Saratoga Investment (NYSE:SAR) last issued its quarterly earnings data on Wednesday, July 8th. The financial services provider reported ($2.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($2.54). Saratoga Investment had a net margin of 43.11% and a return on equity of 8.92%. The business had revenue of $13.30 million for the quarter, compared to analysts’ expectations of $13.54 million.
Several brokerages recently issued reports on SAR. Zacks Investment Research cut shares of Saratoga Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, June 24th. ValuEngine raised shares of Saratoga Investment from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 14th. B. Riley dropped their price objective on shares of Saratoga Investment from $27.50 to $21.00 and set a “buy” rating for the company in a research note on Tuesday, March 24th. Aegis reaffirmed a “buy” rating and set a $18.00 price objective (down previously from $28.00) on shares of Saratoga Investment in a research note on Tuesday, May 12th. Finally, Compass Point upped their price objective on shares of Saratoga Investment from $16.50 to $19.75 and gave the company a “buy” rating in a research note on Monday. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $21.63.
Shares of SAR traded up $0.12 during mid-day trading on Tuesday, hitting $16.22. 615 shares of the company were exchanged, compared to its average volume of 85,326. Saratoga Investment has a 1-year low of $5.94 and a 1-year high of $28.70. The company has a 50 day moving average of $16.03 and a 200-day moving average of $19.00. The stock has a market cap of $180.00 million, a price-to-earnings ratio of 6.12 and a beta of 1.63.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 12th. Investors of record on Monday, July 27th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 9.86%. The ex-dividend date of this dividend is Friday, July 24th.
In other Saratoga Investment news, Director George Cabell Williams III acquired 12,104 shares of the stock in a transaction on Friday, May 8th. The shares were bought at an average cost of $13.01 per share, with a total value of $157,473.04. Also, CEO Christian L. Oberbeck acquired 8,000 shares of the stock in a transaction on Friday, May 8th. The shares were acquired at an average cost of $13.01 per share, for a total transaction of $104,080.00. Insiders have acquired a total of 36,901 shares of company stock worth $496,184 over the last three months. 20.90% of the stock is currently owned by insiders.
Several large investors have recently modified their holdings of the company. Synovus Financial Corp purchased a new stake in Saratoga Investment during the first quarter worth approximately $28,000. Victory Capital Management Inc. grew its stake in Saratoga Investment by 35.5% during the fourth quarter. Victory Capital Management Inc. now owns 1,545 shares of the financial services provider’s stock worth $41,000 after buying an additional 405 shares during the period. Tower Research Capital LLC TRC grew its stake in Saratoga Investment by 334.3% during the first quarter. Tower Research Capital LLC TRC now owns 5,033 shares of the financial services provider’s stock worth $58,000 after buying an additional 3,874 shares during the period. Eagle Global Advisors LLC purchased a new stake in Saratoga Investment during the first quarter worth approximately $140,000. Finally, D.A. Davidson & CO. grew its stake in Saratoga Investment by 6.0% during the first quarter. D.A. Davidson & CO. now owns 15,510 shares of the financial services provider’s stock worth $179,000 after buying an additional 876 shares during the period. 18.27% of the stock is currently owned by institutional investors and hedge funds.
About Saratoga Investment
Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.
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