Saratoga Investment (SAR) Posts Earnings Results, Misses Estimates By $0.09 EPS
Saratoga Investment (NYSE:SAR) released its quarterly earnings results on Thursday. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.09), Fidelity Earnings reports. Saratoga Investment had a net margin of 50.76% and a return on equity of 10.52%. The business had revenue of $11.40 million during the quarter, compared to the consensus estimate of $10.18 million.
Shares of NYSE:SAR opened at $23.26 on Friday. The stock has a market cap of $172.04 million, a price-to-earnings ratio of 10.25 and a beta of 0.12. Saratoga Investment has a 1-year low of $19.62 and a 1-year high of $28.30.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 27th. Shareholders of record on Monday, September 17th were issued a dividend of $0.52 per share. This is a boost from Saratoga Investment’s previous quarterly dividend of $0.51. This represents a $2.08 annualized dividend and a yield of 8.94%. The ex-dividend date of this dividend was Friday, September 14th. Saratoga Investment’s payout ratio is currently 91.63%.
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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