Brokerages Expect Garrison Capital Inc (GARS) Will Post Earnings of $0.27 Per Share
Brokerages forecast that Garrison Capital Inc (NASDAQ:GARS) will report earnings per share of $0.27 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Garrison Capital’s earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.28. Garrison Capital reported earnings of $0.31 per share during the same quarter last year, which would suggest a negative year over year growth rate of 12.9%. The business is scheduled to report its next earnings results 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 fiscal year, analysts anticipate that the firm will post earnings of $1.02 per share, with EPS estimates ranging from $0.94 to $1.12. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Garrison Capital.
Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). The firm had revenue of $8.90 million during the quarter. Garrison Capital had a return on equity of 9.33% and a net margin of 14.66%.
GARS has been the topic of a number of recent analyst reports. ValuEngine upgraded shares of Garrison Capital from a “hold” rating to a “buy” rating in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of Garrison Capital from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Maxim Group restated a “buy” rating and issued a $11.00 price target on shares of Garrison Capital in a research report on Thursday, November 9th. Finally, National Securities restated a “neutral” rating and issued a $10.00 price target on shares of Garrison Capital in a research report on Monday, November 13th. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. Garrison Capital currently has an average rating of “Hold” and a consensus target price of $10.13.
In related news, CEO Joseph Bertrand Tansey bought 4,500 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The shares were bought at an average price of $8.45 per share, for a total transaction of $38,025.00. Following the transaction, the chief executive officer now directly owns 133,196 shares of the company’s stock, valued at $1,125,506.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Brian S. Chase bought 7,000 shares of the company’s stock in a transaction that occurred on Friday, December 8th. The shares were bought at an average price of $8.17 per share, for a total transaction of $57,190.00. Following the transaction, the chief financial officer now directly owns 59,135 shares in the company, valued at $483,132.95. The disclosure for this purchase can be found here. Insiders have purchased a total of 40,602 shares of company stock worth $337,332 in the last quarter. 5.80% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. acquired a new position in shares of Garrison Capital during the 2nd quarter valued at $129,000. OxFORD Asset Management LLP lifted its position in shares of Garrison Capital by 56.1% during the 3rd quarter. OxFORD Asset Management LLP now owns 17,586 shares of the investment management company’s stock valued at $148,000 after acquiring an additional 6,321 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Garrison Capital during the 2nd quarter valued at $178,000. Stephens Inc. AR raised its holdings in Garrison Capital by 40.1% during the second quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock worth $250,000 after buying an additional 8,667 shares during the last quarter. Finally, Caxton Corp raised its holdings in Garrison Capital by 4.0% during the second quarter. Caxton Corp now owns 68,702 shares of the investment management company’s stock worth $567,000 after buying an additional 2,629 shares during the last quarter. Institutional investors own 24.22% of the company’s stock.
Shares of Garrison Capital (NASDAQ GARS) traded down $0.02 during midday trading on Tuesday, hitting $8.17. 63,226 shares of the stock were exchanged, compared to its average volume of 40,620. The firm has a market cap of $131.02, a P/E ratio of 24.76 and a beta of 0.24. Garrison Capital has a 1 year low of $7.77 and a 1 year high of $10.15. 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 business also recently announced a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were given a dividend of $0.28 per share. The ex-dividend date was Thursday, December 7th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.71%. Garrison Capital’s payout ratio is presently 339.39%.
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About Garrison Capital
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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