Equities analysts forecast that Saratoga Investment Corp (NYSE:SAR) will post sales of $14.62 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Saratoga Investment’s earnings, with the highest sales estimate coming in at $14.65 million and the lowest estimate coming in at $14.59 million. Saratoga Investment reported sales of $12.98 million during the same quarter last year, which indicates a positive year over year growth rate of 12.6%. The company is scheduled to report its next quarterly earnings results on Wednesday, May 13th.
According to Zacks, analysts expect that Saratoga Investment will report full-year sales of $55.42 million for the current year, with estimates ranging from $55.33 million to $55.51 million. For the next year, analysts forecast that the company will post sales of $63.91 million, with estimates ranging from $62.61 million to $65.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Saratoga Investment.
Saratoga Investment (NYSE:SAR) last issued its quarterly earnings results on Thursday, January 9th. The financial services provider reported $1.37 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.79. The business had revenue of $14.20 million for the quarter, compared to analysts’ expectations of $14.17 million. Saratoga Investment had a net margin of 68.38% and a return on equity of 9.77%.
SAR has been the topic of several analyst reports. Maxim Group reiterated a “buy” rating and set a $29.00 price target on shares of Saratoga Investment in a research note on Thursday, January 9th. TheStreet upgraded shares of Saratoga Investment from a “c+” rating to a “b” rating in a research report on Thursday, January 9th. Zacks Investment Research upgraded shares of Saratoga Investment from a “sell” rating to a “hold” rating in a research report on Friday, September 20th. Aegis restated a “buy” rating on shares of Saratoga Investment in a research report on Thursday, December 12th. Finally, Compass Point upgraded shares of Saratoga Investment from a “neutral” rating to a “buy” rating and set a $27.75 price objective on the stock in a research report on Thursday, January 9th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $26.68.
Shares of Saratoga Investment stock opened at $27.48 on Wednesday. The company’s fifty day simple moving average is $25.35 and its 200-day simple moving average is $24.95. The stock has a market capitalization of $309.09 million, a PE ratio of 10.45 and a beta of 0.65. Saratoga Investment has a 1-year low of $21.67 and a 1-year high of $27.79.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 6th. Stockholders of record on Friday, January 24th will be given a dividend of $0.56 per share. The ex-dividend date of this dividend is Thursday, January 23rd. This represents a $2.24 annualized dividend and a dividend yield of 8.15%. Saratoga Investment’s payout ratio is 85.17%.
In related news, insider (Tony) Kiernan Anthony purchased 20,000 shares of Saratoga Investment stock in a transaction on Monday, November 25th. The shares were bought at an average cost of $3.07 per share, for a total transaction of $61,360.00. Insiders own 20.90% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. North Star Investment Management Corp. bought a new stake in Saratoga Investment in the 3rd quarter valued at $27,000. Morgan Stanley increased its holdings in Saratoga Investment by 54.9% in the 2nd quarter. Morgan Stanley now owns 3,870 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 1,372 shares during the last quarter. D.A. Davidson & CO. bought a new stake in Saratoga Investment in the 3rd quarter valued at $290,000. Chicago Partners Investment Group LLC bought a new stake in Saratoga Investment in the 3rd quarter valued at $326,000. Finally, BB&T Securities LLC increased its holdings in Saratoga Investment by 59.9% in the 3rd quarter. BB&T Securities LLC now owns 18,163 shares of the financial services provider’s stock valued at $449,000 after acquiring an additional 6,807 shares during the last quarter. Institutional investors own 19.65% of the company’s stock.
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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