Saratoga Investment Corp (NYSE:SAR) – Investment analysts at B. Riley reduced their Q4 2020 EPS estimates for shares of Saratoga Investment in a research report issued to clients and investors on Monday, January 13th. B. Riley analyst T. Hayes now anticipates that the financial services provider will post earnings of $0.55 per share for the quarter, down from their prior forecast of $0.61. B. Riley currently has a “Buy” rating and a $26.00 target price on the stock. B. Riley also issued estimates for Saratoga Investment’s Q1 2021 earnings at $0.57 EPS, Q2 2021 earnings at $0.58 EPS, Q3 2021 earnings at $0.59 EPS, Q4 2021 earnings at $0.62 EPS, FY2021 earnings at $2.36 EPS, Q1 2022 earnings at $0.64 EPS, Q2 2022 earnings at $0.65 EPS and Q3 2022 earnings at $0.66 EPS.
Saratoga Investment (NYSE:SAR) last released its quarterly earnings results on Thursday, January 9th. The financial services provider reported $1.37 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.58 by $0.79. The firm had revenue of $14.20 million during the quarter, compared to analysts’ expectations of $14.17 million. Saratoga Investment had a return on equity of 9.77% and a net margin of 68.38%.
NYSE SAR opened at $27.48 on Wednesday. The stock has a market cap of $309.09 million, a PE ratio of 10.45 and a beta of 0.65. Saratoga Investment has a fifty-two week low of $21.67 and a fifty-two week high of $27.79. The business has a 50 day moving average price of $25.35 and a two-hundred day moving average price of $24.95.
The business also recently declared a quarterly dividend, which will be paid on Thursday, February 6th. Shareholders of record on Friday, January 24th will be issued a $0.56 dividend. This represents a $2.24 dividend on an annualized basis and a yield of 8.15%. The ex-dividend date is Thursday, January 23rd. Saratoga Investment’s dividend payout ratio is presently 85.17%.
In related news, insider (Tony) Kiernan Anthony purchased 20,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $3.07 per share, for a total transaction of $61,360.00. 20.90% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in shares of Saratoga Investment by 54.9% during the 2nd quarter. Morgan Stanley now owns 3,870 shares of the financial services provider’s stock valued at $96,000 after buying an additional 1,372 shares during the last quarter. Millennium Management LLC purchased a new position in shares of Saratoga Investment during the 3rd quarter valued at approximately $2,681,000. North Star Investment Management Corp. purchased a new position in shares of Saratoga Investment during the 3rd quarter valued at approximately $27,000. BB&T Securities LLC boosted its stake in shares of Saratoga Investment by 59.9% during the 3rd quarter. BB&T Securities LLC now owns 18,163 shares of the financial services provider’s stock valued at $449,000 after buying an additional 6,807 shares during the last quarter. Finally, PFG Advisors boosted its stake in shares of Saratoga Investment by 1.5% during the 3rd quarter. PFG Advisors now owns 37,583 shares of the financial services provider’s stock valued at $920,000 after buying an additional 549 shares during the last quarter. Institutional investors own 19.65% of the company’s stock.
About Saratoga Investment
Saratoga Investment Corp. is a business development company specializing in leveraged and management buyouts, acquisition financings, growth financings, recapitalization, debt refinancing, and transitional financing transactions at the lower end of middle market companies. It structures its investments as debt and equity by investing through first and second lien loans, mezzanine debt, co-investments, select high yield bonds, senior secured bonds, unsecured bonds, and preferred and common equity.
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