Brokerages expect that Saratoga Investment Corp (NYSE:SAR) will post $0.54 earnings per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Saratoga Investment’s earnings, with the lowest EPS estimate coming in at $0.52 and the highest estimate coming in at $0.55. Saratoga Investment reported earnings of $0.62 per share during the same quarter last year, which would indicate a negative year over year growth rate of 12.9%. The firm is scheduled to report its next earnings results on Wednesday, October 10th.
According to Zacks, analysts expect that Saratoga Investment will report full-year earnings of $2.28 per share for the current financial year, with EPS estimates ranging from $2.20 to $2.35. For the next fiscal year, analysts forecast that the business will post earnings of $2.27 per share, with EPS estimates ranging from $2.16 to $2.35. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that cover Saratoga Investment.
Saratoga Investment (NYSE:SAR) last released its earnings results on Wednesday, July 11th. The financial services provider reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.06. Saratoga Investment had a return on equity of 10.52% and a net margin of 50.76%. The firm had revenue of $10.49 million for the quarter, compared to analysts’ expectations of $9.79 million.
Several research analysts recently issued reports on SAR shares. Compass Point raised Saratoga Investment from a “neutral” rating to a “buy” rating in a research note on Monday, July 16th. National Securities reissued a “neutral” rating and issued a $24.00 price objective on shares of Saratoga Investment in a research note on Thursday, July 12th. ValuEngine raised Saratoga Investment from a “hold” rating to a “buy” rating in a research note on Tuesday, June 26th. Zacks Investment Research raised Saratoga Investment from a “hold” rating to a “buy” rating and set a $25.00 price objective on the stock in a research note on Thursday, May 17th. Finally, LADENBURG THALM/SH SH cut Saratoga Investment from a “buy” rating to a “neutral” rating in a research note on Monday, July 16th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $24.13.
NYSE:SAR traded up $0.22 during midday trading on Tuesday, hitting $24.07. The stock had a trading volume of 307 shares, compared to its average volume of 35,135. Saratoga Investment has a one year low of $19.62 and a one year high of $28.30. The stock has a market cap of $177.18 million, a P/E ratio of 10.60 and a beta of 0.10.
In other Saratoga Investment news, major shareholder Elizabeth Oberbeck sold 60,000 shares of the stock in a transaction on Monday, June 25th. The stock was sold at an average price of $25.53, for a total transaction of $1,531,800.00. Following the sale, the insider now owns 684,183 shares of the company’s stock, valued at approximately $17,467,191.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christian L. Oberbeck bought 40,061 shares of the company’s stock in a transaction on Wednesday, May 23rd. The shares were bought at an average cost of $22.45 per share, for a total transaction of $899,369.45. Following the transaction, the chief executive officer now directly owns 578,007 shares in the company, valued at approximately $12,976,257.15. The disclosure for this purchase can be found here. 24.80% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN boosted its position in Saratoga Investment by 29.1% during the 1st quarter. Wells Fargo & Company MN now owns 16,527 shares of the financial services provider’s stock valued at $344,000 after acquiring an additional 3,725 shares in the last quarter. Black Diamond Capital Management L.L.C. boosted its position in Saratoga Investment by 2.1% during the 1st quarter. Black Diamond Capital Management L.L.C. now owns 728,454 shares of the financial services provider’s stock valued at $15,159,000 after acquiring an additional 15,094 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in Saratoga Investment during the 1st quarter valued at $155,000. Legal & General Group Plc boosted its position in Saratoga Investment by 21.8% during the 1st quarter. Legal & General Group Plc now owns 21,539 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 3,862 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its position in Saratoga Investment by 3.1% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 88,755 shares of the financial services provider’s stock valued at $1,846,000 after acquiring an additional 2,650 shares in the last quarter. 14.39% of the stock is currently owned by institutional investors and hedge funds.
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.
Read More: Understanding Relative Strength Index
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.