$0.54 EPS Expected for Saratoga Investment Corp (SAR) This Quarter
Wall Street brokerages expect Saratoga Investment Corp (NYSE:SAR) to report earnings of $0.54 per share for the current quarter, Zacks reports. Two analysts have issued estimates for Saratoga Investment’s earnings, with the highest EPS estimate coming in at $0.55 and the lowest estimate coming in at $0.52. Saratoga Investment reported earnings of $0.62 per share in the same quarter last year, which indicates a negative year over year growth rate of 12.9%. The company is expected to announce its next quarterly earnings report 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 fiscal year, with EPS estimates ranging from $2.20 to $2.35. For the next year, analysts forecast that the company will post earnings of $2.27 per share, with EPS estimates ranging from $2.16 to $2.35. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Saratoga Investment.
Saratoga Investment (NYSE:SAR) last released its quarterly earnings results on Wednesday, July 11th. The financial services provider reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.06. The firm had revenue of $10.49 million for the quarter, compared to analysts’ expectations of $9.79 million. Saratoga Investment had a return on equity of 10.52% and a net margin of 50.76%.
Saratoga Investment stock traded up $0.26 during trading on Friday, reaching $24.40. The company had a trading volume of 36,857 shares, compared to its average volume of 30,620. Saratoga Investment has a 52 week low of $19.62 and a 52 week high of $28.30. The stock has a market cap of $178.52 million, a P/E ratio of 10.75 and a beta of 0.11.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 27th. Investors of record on Monday, September 17th will be issued a $0.52 dividend. This is a boost from Saratoga Investment’s previous quarterly dividend of $0.51. This represents a $2.08 dividend on an annualized basis and a yield of 8.52%. The ex-dividend date of this dividend is Friday, September 14th. Saratoga Investment’s dividend payout ratio (DPR) is currently 89.87%.
In related news, major shareholder Elizabeth Oberbeck sold 60,000 shares of the firm’s stock in a transaction on Monday, June 25th. The stock was sold at an average price of $25.53, for a total value of $1,531,800.00. Following the transaction, the insider now directly 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 SEC, which is available through the SEC website. 24.80% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of the business. Ahrens Investment Partners LLC bought a new stake in Saratoga Investment during the second quarter valued at about $230,000. Weber Alan W bought a new stake in Saratoga Investment during the second quarter valued at about $479,000. Mckinley Capital Management LLC Delaware raised its holdings in 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 valued at $961,000 after acquiring an additional 3,086 shares during the period. Legal & General Group Plc raised its holdings in 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 valued at $450,000 after acquiring an additional 3,862 shares during the period. Finally, Ladenburg Thalmann Financial Services Inc. raised its holdings in 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 valued at $1,846,000 after acquiring an additional 2,650 shares during the period. 14.34% of the stock is currently owned by institutional investors and hedge funds.
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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