Saratoga Investment Corp (NYSE:SAR) Expected to Post Earnings of $0.55 Per Share
Wall Street brokerages expect Saratoga Investment Corp (NYSE:SAR) to announce earnings per share (EPS) of $0.55 for the current quarter, Zacks reports. Two analysts have issued estimates for Saratoga Investment’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.55. Saratoga Investment reported earnings of $0.66 per share during the same quarter last year, which indicates a negative year over year growth rate of 16.7%. The firm is scheduled to report its next earnings report on Wednesday, May 13th.
According to Zacks, analysts expect that Saratoga Investment will report full year earnings of $2.42 per share for the current year, with EPS estimates ranging from $2.41 to $2.42. For the next financial year, analysts forecast that the company will report earnings of $2.38 per share, with EPS estimates ranging from $2.36 to $2.39. Zacks’ EPS averages are a mean average based on a survey of sell-side analysts that follow Saratoga Investment.
Saratoga Investment (NYSE:SAR) last announced its quarterly earnings data on Thursday, January 9th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.79. The company had revenue of $14.20 million during the quarter, compared to analysts’ expectations of $14.17 million. Saratoga Investment had a net margin of 68.38% and a return on equity of 9.77%.
Shares of SAR traded up $0.24 during trading hours on Monday, hitting $28.14. The stock had a trading volume of 159,161 shares, compared to its average volume of 138,413. Saratoga Investment has a 12-month low of $21.92 and a 12-month high of $28.49. The firm has a market cap of $314.66 million, a P/E ratio of 10.70 and a beta of 0.65. The company’s fifty day simple moving average is $25.52 and its 200 day simple moving average is $25.00.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, January 24th will be paid a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a dividend yield of 7.96%. The ex-dividend date is Thursday, January 23rd. Saratoga Investment’s dividend payout ratio is presently 85.17%.
In other Saratoga Investment news, insider (Tony) Kiernan Anthony bought 20,000 shares of Saratoga Investment stock in a transaction that occurred on Monday, November 25th. The shares were acquired at an average price of $3.07 per share, for a total transaction of $61,360.00. Insiders own 20.90% of the company’s stock.
Several hedge funds have recently bought and sold shares of SAR. Black Diamond Capital Management L.L.C. raised its holdings in shares of Saratoga Investment by 2.2% during the 2nd quarter. Black Diamond Capital Management L.L.C. now owns 830,530 shares of the financial services provider’s stock valued at $20,506,000 after buying an additional 18,060 shares during the period. Morgan Stanley lifted its position in Saratoga Investment by 54.9% during the 2nd quarter. Morgan Stanley now owns 3,870 shares of the financial services provider’s stock worth $96,000 after acquiring an additional 1,372 shares in the last quarter. Millennium Management LLC purchased a new position in Saratoga Investment in the 3rd quarter worth approximately $2,681,000. North Star Investment Management Corp. purchased a new position in Saratoga Investment in the 3rd quarter worth approximately $27,000. Finally, BB&T Securities LLC grew its position in Saratoga Investment by 59.9% in the third quarter. BB&T Securities LLC now owns 18,163 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 6,807 shares in the last quarter. Institutional investors and hedge funds own 19.65% of the company’s stock.
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.
Further Reading: What is a resistance level?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Saratoga Investment Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Saratoga Investment and related companies with MarketBeat.com's FREE daily email newsletter.