Wall Street brokerages expect Saratoga Investment Corp. (NYSE:SAR) to announce $0.53 earnings per share for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Saratoga Investment’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.52. Saratoga Investment posted earnings of $0.19 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 178.9%. The company is scheduled to report its next quarterly earnings results on Tuesday, May 15th.
On average, analysts expect that Saratoga Investment will report full year earnings of $2.57 per share for the current year, with EPS estimates ranging from $2.56 to $2.58. For the next financial year, analysts expect that the business will report earnings of $2.16 per share, with EPS estimates ranging from $2.11 to $2.20. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Saratoga Investment.
Saratoga Investment (NYSE:SAR) last announced its earnings results on Wednesday, January 10th. The financial services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The company had revenue of $9.53 million for the quarter, compared to analyst estimates of $9.52 million. Saratoga Investment had a return on equity of 8.76% and a net margin of 36.37%.
Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of Saratoga Investment from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 20th. National Securities reissued a “neutral” rating and issued a $24.00 target price (up from $23.00) on shares of Saratoga Investment in a research note on Friday, January 12th. B. Riley assumed coverage on shares of Saratoga Investment in a research note on Tuesday, March 27th. They issued a “buy” rating and a $23.50 target price for the company. Finally, ValuEngine raised shares of Saratoga Investment from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $24.38.
A number of institutional investors have recently made changes to their positions in the business. Mckinley Capital Management LLC Delaware lifted its holdings in Saratoga Investment by 9.4% during the 4th quarter. Mckinley Capital Management LLC Delaware now owns 32,125 shares of the financial services provider’s stock valued at $719,000 after purchasing an additional 2,750 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in Saratoga Investment by 93.1% during the 3rd quarter. Wells Fargo & Company MN now owns 8,598 shares of the financial services provider’s stock valued at $185,000 after purchasing an additional 4,145 shares during the last quarter. Macquarie Group Ltd. acquired a new stake in Saratoga Investment during the 3rd quarter valued at $174,000. Northern Trust Corp acquired a new stake in Saratoga Investment during the 2nd quarter valued at $213,000. Finally, Millennium Management LLC acquired a new stake in Saratoga Investment during the 4th quarter valued at $365,000. 17.41% of the stock is owned by institutional investors and hedge funds.
Shares of SAR traded up $0.09 during mid-day trading on Thursday, hitting $20.44. 3,717 shares of the company’s stock were exchanged, compared to its average volume of 17,250. The stock has a market capitalization of $127.33, a P/E ratio of 12.13 and a beta of 0.20. Saratoga Investment has a 52 week low of $19.62 and a 52 week high of $22.99. The company has a quick ratio of 0.06, a current ratio of 0.06 and a debt-to-equity ratio of 0.01.
The firm also recently declared a quarterly dividend, which was paid on Monday, March 26th. Shareholders of record on Wednesday, March 14th were issued a dividend of $0.50 per share. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.49. The ex-dividend date of this dividend was Tuesday, March 13th. This represents a $2.00 annualized dividend and a yield of 9.78%. Saratoga Investment’s dividend payout ratio (DPR) is currently 119.05%.
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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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