Garrison Capital Inc. (GARS) Expected to Post Earnings of $0.28 Per Share
Equities analysts expect Garrison Capital Inc. (NASDAQ:GARS) to report earnings per share (EPS) of $0.28 for the current quarter, according to Zacks. Four analysts have provided estimates for Garrison Capital’s earnings, with estimates ranging from $0.27 to $0.30. Garrison Capital posted earnings of $0.16 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 75%. The business is expected to report its next earnings report on Wednesday, November 8th.
According to Zacks, analysts expect that Garrison Capital will report full-year earnings of $1.11 per share for the current financial year, with EPS estimates ranging from $1.10 to $1.15. For the next fiscal year, analysts expect that the business will report earnings of $1.05 per share, with EPS estimates ranging from $1.01 to $1.12. Zacks’ EPS calculations are an average based on a survey of research firms that follow Garrison Capital.
Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings results on Tuesday, August 8th. The investment management company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Garrison Capital had a negative net margin of 0.38% and a positive return on equity of 8.33%. The firm had revenue of $9.03 million during the quarter, compared to analyst estimates of $9.08 million.
A number of analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Garrison Capital from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 16th. ValuEngine lowered shares of Garrison Capital from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, National Securities reduced their price target on shares of Garrison Capital from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, May 15th. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Garrison Capital presently has a consensus rating of “Hold” and an average price target of $9.94.
In other Garrison Capital news, CFO Brian S. Chase acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The shares were purchased at an average price of $8.07 per share, with a total value of $32,280.00. Following the completion of the transaction, the chief financial officer now owns 46,135 shares in the company, valued at $372,309.45. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 5.80% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG raised its position in Garrison Capital by 20.3% during the first quarter. UBS Group AG now owns 442,062 shares of the investment management company’s stock valued at $4,324,000 after acquiring an additional 74,540 shares in the last quarter. Blair William & Co. IL raised its position in Garrison Capital by 1.1% during the first quarter. Blair William & Co. IL now owns 70,650 shares of the investment management company’s stock valued at $712,000 after acquiring an additional 750 shares in the last quarter. Baird Financial Group Inc. raised its position in Garrison Capital by 1.3% during the first quarter. Baird Financial Group Inc. now owns 53,650 shares of the investment management company’s stock valued at $525,000 after acquiring an additional 700 shares in the last quarter. Ares Management LLC raised its position in Garrison Capital by 0.8% during the first quarter. Ares Management LLC now owns 309,244 shares of the investment management company’s stock valued at $3,024,000 after acquiring an additional 2,500 shares in the last quarter. Finally, Alpine Woods Capital Investors LLC raised its position in Garrison Capital by 81.8% during the second quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock valued at $165,000 after acquiring an additional 9,000 shares in the last quarter. 22.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Garrison Capital (NASDAQ GARS) traded down 0.60% during trading on Friday, reaching $8.29. 51,841 shares of the company traded hands. The firm has a 50-day moving average price of $8.26 and a 200-day moving average price of $8.94. Garrison Capital has a 12 month low of $7.77 and a 12 month high of $10.54.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 13.51%. The ex-dividend date of this dividend is Thursday, September 7th.
Garrison Capital Company Profile
Garrison Capital Inc is a managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA, of certain amount.
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