$0.58 Earnings Per Share Expected for Saratoga Investment Corp (SAR) This Quarter
Wall Street brokerages expect Saratoga Investment Corp (NYSE:SAR) to announce earnings per share (EPS) of $0.58 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Saratoga Investment’s earnings, with estimates ranging from $0.56 to $0.60. Saratoga Investment reported earnings of $0.89 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 34.8%. The business is expected to report its next earnings results on Monday, May 13th.
According to Zacks, analysts expect that Saratoga Investment will report full year earnings of $2.57 per share for the current fiscal year. For the next financial year, analysts forecast that the firm will post earnings of $2.48 per share, with EPS estimates ranging from $2.24 to $2.62. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that cover Saratoga Investment.
Saratoga Investment (NYSE:SAR) last issued its earnings results on Thursday, January 10th. The financial services provider reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $12.83 million during the quarter, compared to analyst estimates of $11.86 million. Saratoga Investment had a return on equity of 10.98% and a net margin of 36.08%.
In other Saratoga Investment news, CFO Henri J. Steenkamp purchased 1,208 shares of Saratoga Investment stock in a transaction on Tuesday, January 15th. The stock was bought at an average price of $22.00 per share, for a total transaction of $26,576.00. Following the transaction, the chief financial officer now owns 9,026 shares of the company’s stock, valued at approximately $198,572. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 24.80% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. PFG Advisors bought a new stake in shares of Saratoga Investment in the 4th quarter worth $837,000. Legal & General Group Plc raised its stake in shares of Saratoga Investment by 33.0% in the 4th quarter. Legal & General Group Plc now owns 32,461 shares of the financial services provider’s stock worth $646,000 after buying an additional 8,054 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Saratoga Investment by 61.2% in the 3rd quarter. Wells Fargo & Company MN now owns 31,403 shares of the financial services provider’s stock worth $724,000 after buying an additional 11,922 shares in the last quarter. BB&T Securities LLC bought a new stake in shares of Saratoga Investment in the 4th quarter worth $488,000. Finally, Belpointe Asset Management LLC raised its stake in shares of Saratoga Investment by 5.6% in the 3rd quarter. Belpointe Asset Management LLC now owns 16,154 shares of the financial services provider’s stock worth $373,000 after buying an additional 853 shares in the last quarter. Institutional investors own 15.86% of the company’s stock.
Shares of SAR traded down $0.05 during mid-day trading on Friday, hitting $22.25. The stock had a trading volume of 100 shares, compared to its average volume of 37,792. The firm has a market cap of $167.18 million, a price-to-earnings ratio of 9.78 and a beta of 0.63. The company has a current ratio of 0.04, a quick ratio of 0.04 and a debt-to-equity ratio of 0.07. Saratoga Investment has a fifty-two week low of $18.60 and a fifty-two week high of $28.30.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th will be given a dividend of $0.54 per share. This represents a $2.16 dividend on an annualized basis and a yield of 9.71%. The ex-dividend date is Wednesday, March 13th. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.53. Saratoga Investment’s payout ratio is 95.15%.
About Saratoga Investment
Saratoga Investment Corp. is a specialty finance company, which engages in the provision of financing solutions. Its portfolio includes investments in leveraged loans issued by middle market companies. The company was founded on March 21, 2007 and is headquartered in New York, NY.
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