Saratoga Investment Corp (NYSE:SAR) Expected to Post Quarterly Sales of $14.17 Million
Wall Street brokerages expect that Saratoga Investment Corp (NYSE:SAR) will report sales of $14.17 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Saratoga Investment’s earnings, with the lowest sales estimate coming in at $14.11 million and the highest estimate coming in at $14.22 million. Saratoga Investment posted sales of $12.83 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.4%. The firm is scheduled to report its next quarterly earnings results on Wednesday, January 8th.
According to Zacks, analysts expect that Saratoga Investment will report full year sales of $55.42 million for the current year, with estimates ranging from $55.33 million to $55.51 million. For the next year, analysts forecast that the firm will report sales of $63.91 million, with estimates ranging from $62.61 million to $65.20 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Saratoga Investment.
Saratoga Investment (NYSE:SAR) last issued its quarterly earnings results on Thursday, October 10th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.31. The company had revenue of $13.89 million for the quarter, compared to analyst estimates of $12.68 million. Saratoga Investment had a net margin of 51.00% and a return on equity of 10.48%.
In other news, insider (Tony) Kiernan Anthony acquired 20,000 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was acquired at an average cost of $3.07 per share, for a total transaction of $61,360.00. Corporate insiders own 20.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. NEXT Financial Group Inc purchased a new position in Saratoga Investment in the 2nd quarter valued at about $49,000. Advantage Investment Management LLC acquired a new position in shares of Saratoga Investment in the 2nd quarter valued at about $304,000. Ahrens Investment Partners LLC grew its position in shares of Saratoga Investment by 25.6% during the 2nd quarter. Ahrens Investment Partners LLC now owns 11,300 shares of the financial services provider’s stock valued at $279,000 after buying an additional 2,300 shares during the last quarter. Mckinley Capital Management LLC Delaware raised its stake in Saratoga Investment by 3.7% during the second quarter. Mckinley Capital Management LLC Delaware now owns 34,259 shares of the financial services provider’s stock worth $846,000 after acquiring an additional 1,235 shares during the period. Finally, First Republic Investment Management Inc. raised its stake in Saratoga Investment by 2.2% during the second quarter. First Republic Investment Management Inc. now owns 27,597 shares of the financial services provider’s stock worth $681,000 after acquiring an additional 597 shares during the period. Hedge funds and other institutional investors own 19.64% of the company’s stock.
NYSE:SAR traded up $0.13 during mid-day trading on Friday, reaching $25.08. 772 shares of the stock were exchanged, compared to its average volume of 106,804. The stock has a market capitalization of $243.26 million, a P/E ratio of 9.54 and a beta of 0.66. Saratoga Investment has a 1 year low of $18.60 and a 1 year high of $26.39. The company has a 50 day simple moving average of $25.18 and a 200-day simple moving average of $24.76.
Saratoga Investment Company Profile
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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