Brokers Issue Forecasts for Garrison Capital Inc.’s Q3 2017 Earnings (GARS)
Garrison Capital Inc. (NASDAQ:GARS) – Stock analysts at William Blair cut their Q3 2017 earnings estimates for shares of Garrison Capital in a report released on Monday. William Blair analyst R. Napoli now forecasts that the investment management company will post earnings of $0.27 per share for the quarter, down from their previous forecast of $0.29. William Blair also issued estimates for Garrison Capital’s Q4 2017 earnings at $0.28 EPS, FY2017 earnings at $1.10 EPS and FY2019 earnings at $0.91 EPS.
Garrison Capital (NASDAQ:GARS) last released its quarterly earnings data on Tuesday, August 8th. The investment management company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.02. The company had revenue of $9.03 million for the quarter, compared to analyst estimates of $9.08 million. Garrison Capital had a negative net margin of 0.38% and a positive return on equity of 8.33%. COPYRIGHT VIOLATION NOTICE: “Brokers Issue Forecasts for Garrison Capital Inc.’s Q3 2017 Earnings (GARS)” was first published by Watch List News and is owned by of Watch List News. If you are viewing this news story on another domain, it was illegally stolen and reposted in violation of international trademark and copyright legislation. The original version of this news story can be read at https://www.watchlistnews.com/brokers-issue-forecasts-for-garrison-capital-inc-s-q3-2017-earnings-gars/1493851.html.
A number of other research firms have also weighed in on GARS. Zacks Investment Research raised shares of Garrison Capital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Maxim Group reissued a “buy” rating and set a $10.50 price target on shares of Garrison Capital in a research report on Thursday, May 11th. National Securities dropped their price target on shares of Garrison Capital from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, May 15th. CIBC lowered shares of Garrison Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, May 12th. Finally, Citigroup Inc. reissued a “market perform” rating on shares of Garrison Capital in a research report on Friday, May 12th. Six investment 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. The company currently has a consensus rating of “Hold” and an average price target of $9.94.
Garrison Capital (NASDAQ:GARS) opened at 8.22 on Wednesday. Garrison Capital has a 1-year low of $7.77 and a 1-year high of $10.98. The stock’s 50 day moving average is $8.15 and its 200 day moving average is $9.07.
A number of hedge funds have recently bought and sold shares of GARS. AJO LP bought a new stake in Garrison Capital during the second quarter worth about $816,000. UBS Group AG increased its stake in Garrison Capital by 20.3% in the first quarter. UBS Group AG now owns 442,062 shares of the investment management company’s stock worth $4,324,000 after buying an additional 74,540 shares during the period. Goldman Sachs Group Inc. bought a new stake in Garrison Capital during the second quarter worth about $129,000. Oppenheimer & Co. Inc. increased 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 worth $444,000 after buying an additional 14,093 shares during the period. Finally, Alpine Woods Capital Investors LLC increased its stake in Garrison Capital by 81.8% in the second quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock worth $165,000 after buying an additional 9,000 shares during the period. Institutional investors and hedge funds own 22.55% of the company’s stock.
In other news, CFO Brian S. Chase purchased 4,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were bought at an average cost of $8.07 per share, with a total value of $32,280.00. Following the completion of the transaction, the chief financial officer now directly owns 46,135 shares of the company’s stock, valued at $372,309.45. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased 7,010 shares of company stock worth $57,786 over the last three months. 5.80% of the stock is owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 13.63%. The ex-dividend date is Thursday, September 7th.
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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