Equities analysts forecast that Saratoga Investment Corp (NYSE:SAR) will report $12.77 million in sales for the current quarter, according to Zacks. Two analysts have provided estimates for Saratoga Investment’s earnings, with estimates ranging from $12.27 million to $13.27 million. Saratoga Investment posted sales of $10.13 million during the same quarter last year, which suggests a positive year over year growth rate of 26.1%. The firm is expected to announce its next quarterly earnings results after the market closes on Wednesday, May 8th.
On average, analysts expect that Saratoga Investment will report full year sales of $47.50 million for the current year, with estimates ranging from $47.00 million to $47.99 million. For the next financial year, analysts forecast that the firm will post sales of $52.99 million, with estimates ranging from $49.70 million to $56.27 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Saratoga Investment.
SAR has been the topic of several analyst reports. Maxim Group restated a “buy” rating and set a $26.00 price objective on shares of Saratoga Investment in a report on Thursday, January 10th. National Securities restated a “neutral” rating and set a $24.00 price objective on shares of Saratoga Investment in a report on Tuesday, January 15th. Compass Point cut Saratoga Investment from a “buy” rating to a “neutral” rating in a report on Monday. Finally, Zacks Investment Research upgraded Saratoga Investment from a “hold” rating to a “strong-buy” rating and set a $22.00 price objective on the stock in a report on Wednesday, December 26th. Three equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $24.00.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a $0.54 dividend. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.53. This represents a $2.16 annualized dividend and a dividend yield of 8.81%. The ex-dividend date of this dividend was Wednesday, March 13th. Saratoga Investment’s dividend payout ratio (DPR) is 95.15%.
Institutional investors and hedge funds have recently modified their holdings of the stock. North Star Investment Management Corp. purchased a new position in shares of Saratoga Investment in the 1st quarter worth $25,000. Macquarie Group Ltd. raised its position in shares of Saratoga Investment by 68.8% in the 4th quarter. Macquarie Group Ltd. now owns 1,939 shares of the financial services provider’s stock worth $39,000 after buying an additional 790 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Saratoga Investment by 55.9% in the 4th quarter. Valeo Financial Advisors LLC now owns 8,920 shares of the financial services provider’s stock worth $178,000 after buying an additional 3,200 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Saratoga Investment in the 3rd quarter worth $211,000. Finally, Belpointe Asset Management LLC raised its position 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 during the period. 15.86% of the stock is currently owned by institutional investors and hedge funds.
Saratoga Investment Company Profile
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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