Saratoga Investment Corp (NYSE:SAR) – Equities research analysts at B. Riley upped their Q4 2019 earnings per share estimates for Saratoga Investment in a research report issued to clients and investors on Thursday, January 10th. B. Riley analyst T. Hayes now expects that the financial services provider will post earnings of $0.62 per share for the quarter, up from their prior estimate of $0.58. B. Riley also issued estimates for Saratoga Investment’s Q1 2020 earnings at $0.62 EPS, Q2 2020 earnings at $0.63 EPS, Q3 2020 earnings at $0.63 EPS, Q4 2020 earnings at $0.64 EPS, FY2020 earnings at $2.52 EPS, Q1 2021 earnings at $0.62 EPS, Q2 2021 earnings at $0.65 EPS, Q3 2021 earnings at $0.66 EPS and FY2021 earnings at $2.60 EPS.
Several other research firms also recently commented on SAR. National Securities reissued a “neutral” rating and issued a $24.00 target price on shares of Saratoga Investment in a report on Monday, October 15th. Zacks Investment Research cut Saratoga Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. LADENBURG THALM/SH SH upgraded Saratoga Investment from a “neutral” rating to a “buy” rating in a research note on Tuesday, October 30th. Maxim Group restated a “buy” rating and issued a $26.00 price target on shares of Saratoga Investment in a research note on Thursday. Finally, ValuEngine upgraded Saratoga Investment from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.88.
Saratoga Investment stock opened at $22.03 on Friday. Saratoga Investment has a 12 month low of $18.60 and a 12 month high of $28.30. The firm has a market capitalization of $161.71 million, a price-to-earnings ratio of 9.70 and a beta of 0.45.
Saratoga Investment (NYSE:SAR) last released its earnings results on Wednesday, January 9th. The financial services provider reported $0.65 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.10. Saratoga Investment had a return on equity of 11.33% and a net margin of 36.08%. The business had revenue of $12.83 million for the quarter, compared to the consensus estimate of $11.86 million.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 17th were paid a $0.53 dividend. The ex-dividend date of this dividend was Friday, December 14th. This represents a $2.12 annualized dividend and a dividend yield of 9.62%. This is a boost from Saratoga Investment’s previous quarterly dividend of $0.52. Saratoga Investment’s payout ratio is currently 93.39%.
A number of institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc increased its position in Saratoga Investment by 10.8% during the third quarter. Legal & General Group Plc now owns 24,407 shares of the financial services provider’s stock valued at $563,000 after acquiring an additional 2,376 shares during the last quarter. Belpointe Asset Management LLC increased its position in Saratoga Investment by 5.6% during the third quarter. Belpointe Asset Management LLC now owns 16,154 shares of the financial services provider’s stock valued at $373,000 after acquiring an additional 853 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Saratoga Investment during the third quarter valued at $211,000. Ahrens Investment Partners LLC increased its position in Saratoga Investment by 31.3% during the third quarter. Ahrens Investment Partners LLC now owns 10,900 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 2,600 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in Saratoga Investment by 61.2% during the third quarter. Wells Fargo & Company MN now owns 31,403 shares of the financial services provider’s stock valued at $724,000 after acquiring an additional 11,922 shares during the last quarter. Institutional investors own 16.63% 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.
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