Wall Street analysts predict that Saratoga Investment Corp (NYSE:SAR) will post $11.03 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Saratoga Investment’s earnings. The highest sales estimate is $11.67 million and the lowest is $10.40 million. Saratoga Investment posted sales of $9.53 million in the same quarter last year, which would indicate a positive year over year growth rate of 15.7%. The firm is scheduled to announce its next earnings report on Wednesday, January 9th.
According to Zacks, analysts expect that Saratoga Investment will report full year sales of $43.01 million for the current year, with estimates ranging from $41.38 million to $44.65 million. For the next year, analysts forecast that the company will post sales of $48.18 million, with estimates ranging from $42.78 million to $53.57 million. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for Saratoga Investment.
Saratoga Investment (NYSE:SAR) last announced its earnings results on Thursday, October 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.09). The business had revenue of $11.40 million for the quarter, compared to analysts’ expectations of $10.18 million. Saratoga Investment had a return on equity of 10.52% and a net margin of 50.76%.
SAR has been the topic of a number of research reports. Zacks Investment Research lowered shares of Saratoga Investment from a “hold” rating to a “sell” rating in a research report on Wednesday. National Securities restated a “neutral” rating and set a $24.00 target price on shares of Saratoga Investment in a research report on Thursday, August 23rd. LADENBURG THALM/SH SH downgraded Saratoga Investment from a “buy” rating to a “neutral” rating in a report on Monday, July 16th. ValuEngine raised Saratoga Investment from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Finally, Compass Point raised Saratoga Investment from a “neutral” rating to a “buy” rating in a report on Monday, July 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. Saratoga Investment has an average rating of “Hold” and a consensus target price of $24.13.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Saratoga Investment by 3.1% during the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 88,755 shares of the financial services provider’s stock worth $1,846,000 after purchasing an additional 2,650 shares during the period. Mckinley Capital Management LLC Delaware lifted its holdings in shares of Saratoga Investment by 9.8% during the second quarter. Mckinley Capital Management LLC Delaware now owns 34,711 shares of the financial services provider’s stock worth $961,000 after purchasing an additional 3,086 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of Saratoga Investment by 29.1% during the first quarter. Wells Fargo & Company MN now owns 16,527 shares of the financial services provider’s stock worth $344,000 after purchasing an additional 3,725 shares during the period. Legal & General Group Plc lifted its holdings in shares of Saratoga Investment by 21.8% during the first quarter. Legal & General Group Plc now owns 21,539 shares of the financial services provider’s stock worth $450,000 after purchasing an additional 3,862 shares during the period. Finally, Ahrens Investment Partners LLC acquired a new stake in shares of Saratoga Investment during the second quarter worth $230,000. 14.34% of the stock is owned by hedge funds and other institutional investors.
Shares of SAR opened at $23.26 on Friday. The company has a market cap of $172.04 million, a PE ratio of 10.30 and a beta of 0.12. Saratoga Investment has a 12-month low of $19.62 and a 12-month high of $28.30.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 27th. Investors of record on Monday, September 17th were issued a dividend of $0.52 per share. The ex-dividend date was Friday, September 14th. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a dividend yield of 8.94%. Saratoga Investment’s dividend payout ratio (DPR) is currently 91.63%.
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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