Brokerages Expect Garrison Capital Inc (GARS) Will Post Quarterly Sales of $9.47 Million
Brokerages expect Garrison Capital Inc (NASDAQ:GARS) to announce sales of $9.47 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Garrison Capital’s earnings, with the lowest sales estimate coming in at $9.40 million and the highest estimate coming in at $9.57 million. Garrison Capital posted sales of $9.69 million in the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The company is expected to issue its next quarterly earnings report on Tuesday, March 5th.
According to Zacks, analysts expect that Garrison Capital will report full-year sales of $38.68 million for the current fiscal year, with estimates ranging from $38.60 million to $38.79 million. For the next fiscal year, analysts forecast that the firm will report sales of $42.62 million, with estimates ranging from $40.70 million to $43.61 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that cover Garrison Capital.
Garrison Capital (NASDAQ:GARS) last released its quarterly earnings results on Tuesday, November 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.05). The business had revenue of $9.31 million for the quarter, compared to the consensus estimate of $9.78 million. Garrison Capital had a net margin of 25.90% and a return on equity of 9.39%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Connor Clark & Lunn Investment Management Ltd. bought a new position in Garrison Capital during the third quarter worth $122,000. Macquarie Group Ltd. bought a new position in Garrison Capital during the second quarter worth $211,000. Millennium Management LLC raised its stake in Garrison Capital by 24.6% during the first quarter. Millennium Management LLC now owns 30,810 shares of the investment management company’s stock worth $250,000 after buying an additional 6,075 shares during the last quarter. Acadian Asset Management LLC raised its stake in Garrison Capital by 135.2% during the second quarter. Acadian Asset Management LLC now owns 38,131 shares of the investment management company’s stock worth $310,000 after buying an additional 21,920 shares during the last quarter. Finally, Morgan Stanley raised its stake in Garrison Capital by 456.7% during the third quarter. Morgan Stanley now owns 71,343 shares of the investment management company’s stock worth $591,000 after buying an additional 58,528 shares during the last quarter. 25.88% of the stock is owned by institutional investors and hedge funds.
Shares of GARS stock traded down $0.14 during trading hours on Tuesday, hitting $7.38. 53,000 shares of the company’s stock traded hands, compared to its average volume of 37,445. The company has a market capitalization of $120.85 million, a P/E ratio of 6.90 and a beta of 0.34. Garrison Capital has a 12 month low of $7.31 and a 12 month high of $8.95. The company has a debt-to-equity ratio of 1.35, a quick ratio of 3.11 and a current ratio of 3.11.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, December 7th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 12.47%. The ex-dividend date of this dividend is Thursday, December 6th. Garrison Capital’s dividend payout ratio is presently 104.67%.
Garrison Capital Company Profile
Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, ?one-stop? senior secured or ?unitranche? loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.
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