Equities analysts forecast that Saratoga Investment Corp (NYSE:SAR) will announce earnings of $0.59 per share for the current quarter, Zacks reports. Two analysts have provided estimates for Saratoga Investment’s earnings. The highest EPS estimate is $0.60 and the lowest is $0.57. Saratoga Investment posted earnings of $0.65 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 9.2%. The company is scheduled to report its next earnings report on Wednesday, January 8th.
According to Zacks, analysts expect that Saratoga Investment will report full-year earnings of $2.25 per share for the current fiscal year, with EPS estimates ranging from $2.21 to $2.29. For the next financial year, analysts forecast that the company will post earnings of $2.55 per share, with EPS estimates ranging from $2.42 to $2.64. Zacks’ EPS averages are an average based on a survey of research firms that that provide coverage for 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 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 the consensus estimate of $12.68 million. Saratoga Investment had a net margin of 51.00% and a return on equity of 10.48%.
A number of brokerages recently weighed in on SAR. Zacks Investment Research raised shares of Saratoga Investment from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Maxim Group set a $27.00 price target on shares of Saratoga Investment and gave the stock a “buy” rating in a report on Thursday, October 10th. B. Riley set a $26.00 price target on shares of Saratoga Investment and gave the stock a “buy” rating in a report on Friday, October 11th. Aegis began coverage on shares of Saratoga Investment in a report on Thursday, August 29th. They issued a “buy” rating and a $26.00 price target on the stock. Finally, ValuEngine downgraded shares of Saratoga Investment from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company. Saratoga Investment presently has an average rating of “Hold” and an average price target of $25.83.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAR. North Star Investment Management Corp. bought a new stake in shares of Saratoga Investment during the third quarter valued at about $27,000. NEXT Financial Group Inc bought a new stake in shares of Saratoga Investment during the second quarter valued at about $49,000. Morgan Stanley increased its position in shares of Saratoga Investment by 54.9% during the second quarter. Morgan Stanley now owns 3,870 shares of the financial services provider’s stock valued at $96,000 after buying an additional 1,372 shares during the period. Wiley BROS. Aintree Capital LLC bought a new stake in shares of Saratoga Investment during the second quarter valued at about $225,000. Finally, Ahrens Investment Partners LLC increased its position in shares of Saratoga Investment by 25.6% during the second 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 period. 16.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:SAR opened at $24.84 on Monday. The company’s 50-day moving average is $24.78 and its 200 day moving average is $24.55. The company has a market capitalization of $241.69 million, a P/E ratio of 9.44 and a beta of 0.65. Saratoga Investment has a fifty-two week low of $18.60 and a fifty-two week high of $25.80.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Friday, September 13th were issued a dividend of $0.56 per share. The ex-dividend date of this dividend was Thursday, September 12th. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.55. This represents a $2.24 annualized dividend and a yield of 9.02%. Saratoga Investment’s dividend payout ratio is 85.17%.
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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