Saratoga Investment (NYSE:SAR) announced its earnings results on Monday. The financial services provider reported $0.71 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.18, Fidelity Earnings reports. Saratoga Investment had a net margin of 95.61% and a return on equity of 7.54%. During the same period in the prior year, the company earned $0.49 earnings per share.
NYSE:SAR traded up $0.34 on Wednesday, reaching $29.78. 304 shares of the company’s stock were exchanged, compared to its average volume of 50,912. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.08 and a quick ratio of 0.08. The firm has a market cap of $333.03 million, a price-to-earnings ratio of 5.71, a P/E/G ratio of 1.68 and a beta of 1.71. Saratoga Investment has a 52 week low of $17.31 and a 52 week high of $29.80. The stock has a fifty day simple moving average of $27.79 and a 200-day simple moving average of $26.51.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 28th. Shareholders of record on Tuesday, September 14th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 6.98%. The ex-dividend date was Monday, September 13th. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.44. Saratoga Investment’s dividend payout ratio (DPR) is currently 102.97%.
SAR has been the subject of a number of research analyst reports. Raymond James initiated coverage on shares of Saratoga Investment in a report on Tuesday, June 22nd. They set an “outperform” rating and a $30.00 price objective for the company. Maxim Group restated a “buy” rating and set a $31.00 price objective on shares of Saratoga Investment in a report on Friday, August 27th. Zacks Investment Research downgraded shares of Saratoga Investment from a “buy” rating to a “hold” rating in a report on Tuesday, September 7th. B. Riley raised their price objective on shares of Saratoga Investment from $29.00 to $30.00 and gave the stock a “buy” rating in a report on Friday, July 9th. Finally, Oppenheimer initiated coverage on shares of Saratoga Investment in a report on Tuesday, June 15th. They set an “outperform” rating and a $29.00 price objective for the company. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Saratoga Investment has an average rating of “Buy” and an average target price of $29.43.
About Saratoga Investment
Saratoga Investment Corp. (NYSE: SAR) is a publicly traded business development company (BDC) that provides customized financing solutions for middle market companies located in the United States. Saratoga’s senior investment professionals have over 200 years of combined experience investing in more than $4 billion in middle market businesses.
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