Analysts Expect Garrison Capital Inc (GARS) Will Post Earnings of $0.27 Per Share
Analysts expect that Garrison Capital Inc (NASDAQ:GARS) will announce $0.27 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Garrison Capital’s earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.26. Garrison Capital reported earnings of $0.31 per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 12.9%. The firm is expected to announce its next earnings report on Tuesday, March 6th.
According to Zacks, analysts expect that Garrison Capital will report full-year earnings of $1.09 per share for the current year, with EPS estimates ranging from $1.07 to $1.12. For the next financial year, analysts anticipate that the business will report earnings of $1.03 per share, with EPS estimates ranging from $0.94 to $1.12. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Garrison Capital.
Garrison Capital (NASDAQ:GARS) last released its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.26 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.02). The firm had revenue of $8.90 million for the quarter. Garrison Capital had a return on equity of 9.33% and a net margin of 14.66%.
A number of research firms recently commented on GARS. Zacks Investment Research raised Garrison Capital from a “strong sell” rating to a “hold” rating in a research note on Friday. ValuEngine raised Garrison Capital from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st. National Securities reaffirmed a “neutral” rating and issued a $10.00 price objective on shares of Garrison Capital in a research note on Monday, November 13th. Finally, Maxim Group reaffirmed a “buy” rating and issued a $11.00 price objective on shares of Garrison Capital in a research note on Thursday, November 9th. Six equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $10.13.
In other Garrison Capital news, CFO Brian S. Chase purchased 7,000 shares of the company’s stock in a transaction on Friday, December 8th. The shares were purchased at an average cost of $8.17 per share, with a total value of $57,190.00. Following the completion of the purchase, the chief financial officer now owns 59,135 shares in the company, valued at $483,132.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Brian S. Chase purchased 4,000 shares of the company’s stock in a transaction on Friday, November 17th. The stock was acquired at an average cost of $8.15 per share, for a total transaction of $32,600.00. Following the completion of the purchase, the chief financial officer now owns 50,135 shares of the company’s stock, valued at approximately $408,600.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 40,602 shares of company stock worth $337,332. 5.80% of the stock is owned by insiders.
Institutional investors and hedge funds have recently modified their holdings of the business. Caxton Corp lifted its stake in Garrison Capital by 1,137.2% in the third quarter. Caxton Corp now owns 850,000 shares of the investment management company’s stock valued at $7,166,000 after buying an additional 781,298 shares during the period. AJO LP acquired a new position in Garrison Capital in the second quarter valued at approximately $816,000. Goldman Sachs Group Inc. acquired a new position in Garrison Capital in the second quarter valued at approximately $129,000. Stephens Inc. AR lifted its stake in Garrison Capital by 40.1% in the second quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock valued at $250,000 after buying an additional 8,667 shares during the period. Finally, Oppenheimer & Co. Inc. lifted its stake in Garrison Capital by 35.6% in the second quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock valued at $444,000 after buying an additional 14,093 shares during the period. 24.22% of the stock is currently owned by hedge funds and other institutional investors.
Garrison Capital (GARS) opened at $8.11 on Friday. The company has a quick ratio of 10.29, a current ratio of 10.29 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $130.32, a P/E ratio of 23.85 and a beta of 0.24. Garrison Capital has a 12 month low of $7.77 and a 12 month high of $10.15.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.81%. The ex-dividend date of this dividend was Thursday, December 7th. Garrison Capital’s dividend payout ratio is currently 329.41%.
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Garrison Capital Company Profile
Garrison Capital Inc is a managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA, of certain amount.
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