Zacks: Analysts Anticipate Garrison Capital Inc (GARS) Will Post Earnings of $0.22 Per Share
Analysts expect that Garrison Capital Inc (NASDAQ:GARS) will post earnings per share of $0.22 for the current quarter, Zacks reports. Two analysts have provided estimates for Garrison Capital’s earnings, with the lowest EPS estimate coming in at $0.21 and the highest estimate coming in at $0.25. Garrison Capital posted earnings of $0.31 per share during the same quarter last year, which would suggest a negative year over year growth rate of 29%. The firm is expected to issue its next earnings report on Tuesday, May 14th.
According to Zacks, analysts expect that Garrison Capital will report full-year earnings of $0.93 per share for the current fiscal year, with EPS estimates ranging from $0.90 to $0.97. For the next financial year, analysts forecast that the firm will report earnings of $0.93 per share, with EPS estimates ranging from $0.92 to $0.95. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that follow Garrison Capital.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Garrison Capital from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 4th. National Securities dropped their price target on shares of Garrison Capital from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 22nd will be paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 12.20%. The ex-dividend date of this dividend is Thursday, March 21st. Garrison Capital’s dividend payout ratio (DPR) is presently 91.09%.
In other Garrison Capital news, COO Brian S. Chase bought 11,900 shares of the stock in a transaction on Monday, March 11th. The shares were purchased at an average cost of $7.47 per share, with a total value of $88,893.00. Following the completion of the transaction, the chief operating officer now directly owns 67,135 shares of the company’s stock, valued at approximately $501,498.45. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Joseph Bertrand Tansey bought 23,716 shares of the stock in a transaction on Wednesday, March 13th. The shares were acquired at an average cost of $7.46 per share, for a total transaction of $176,921.36. Following the completion of the transaction, the chief executive officer now directly owns 136,412 shares of the company’s stock, valued at $1,017,633.52. The disclosure for this purchase can be found here. Insiders bought 54,032 shares of company stock worth $403,386 over the last ninety days. 6.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of GARS. Squarepoint Ops LLC acquired a new position in Garrison Capital during the fourth quarter worth $76,000. National Asset Management Inc. increased its position in Garrison Capital by 24.8% during the fourth quarter. National Asset Management Inc. now owns 18,603 shares of the investment management company’s stock worth $120,000 after buying an additional 3,700 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Garrison Capital during the third quarter worth $122,000. Oppenheimer & Co. Inc. increased its position in Garrison Capital by 18.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 24,526 shares of the investment management company’s stock worth $158,000 after buying an additional 3,901 shares during the last quarter. Finally, Stephens Inc. AR increased its position in Garrison Capital by 19.6% during the fourth quarter. Stephens Inc. AR now owns 26,809 shares of the investment management company’s stock worth $172,000 after buying an additional 4,395 shares during the last quarter. 26.65% of the stock is currently owned by hedge funds and other institutional investors.
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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