Saratoga Investment Corp (NYSE:SAR) – Research analysts at B. Riley reduced their Q4 2020 earnings per share estimates for Saratoga Investment in a report issued on Monday, January 13th. B. Riley analyst T. Hayes now expects that the financial services provider will earn $0.55 per share for the quarter, down from their prior forecast of $0.61. B. Riley has a “Buy” rating and a $26.00 price target on the stock. B. Riley also issued estimates for Saratoga Investment’s Q1 2021 earnings at $0.57 EPS, Q2 2021 earnings at $0.58 EPS, Q3 2021 earnings at $0.59 EPS, Q4 2021 earnings at $0.62 EPS, FY2021 earnings at $2.36 EPS, Q1 2022 earnings at $0.64 EPS, Q2 2022 earnings at $0.65 EPS and Q3 2022 earnings at $0.66 EPS.
Saratoga Investment (NYSE:SAR) last released 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. Saratoga Investment had a net margin of 68.38% and a return on equity of 9.77%. The business had revenue of $14.20 million for the quarter, compared to the consensus estimate of $14.17 million.
SAR opened at $27.48 on Wednesday. Saratoga Investment has a 1-year low of $21.67 and a 1-year high of $27.79. The company has a market capitalization of $309.09 million, a PE ratio of 10.45 and a beta of 0.65. The firm’s 50 day simple moving average is $25.35 and its two-hundred day simple moving average is $24.95.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, January 24th will be given a $0.56 dividend. The ex-dividend date is Thursday, January 23rd. This represents a $2.24 annualized dividend and a yield of 8.15%. Saratoga Investment’s payout ratio is presently 85.17%.
In other Saratoga Investment news, insider (Tony) Kiernan Anthony purchased 20,000 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were acquired at an average cost of $3.07 per share, for a total transaction of $61,360.00. 20.90% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in SAR. North Star Investment Management Corp. purchased a new stake in shares of Saratoga Investment in the third quarter worth $27,000. Morgan Stanley grew its stake in Saratoga Investment by 54.9% during the second 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 in the last quarter. D.A. Davidson & CO. purchased a new position in Saratoga Investment during the third quarter valued at $290,000. Chicago Partners Investment Group LLC purchased a new position in Saratoga Investment during the third quarter valued at $326,000. Finally, BB&T Securities LLC grew its stake in Saratoga Investment by 59.9% during the third 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 in the last quarter. 19.65% of the stock is owned by hedge funds and other institutional investors.
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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