Saratoga Investment Corp. (SAR) to Issue Quarterly Dividend of $0.74 on June 27th

Saratoga Investment Corp. (NYSE:SAR) announced a quarterly dividend on Thursday, May 23rd, Zacks reports. Investors of record on Thursday, June 13th will be paid a dividend of 0.74 per share by the financial services provider on Thursday, June 27th. This represents a $2.96 annualized dividend and a yield of 12.17%. The ex-dividend date is Thursday, June 13th. This is a boost from Saratoga Investment’s previous quarterly dividend of $0.73.

Saratoga Investment Price Performance

Saratoga Investment stock opened at $24.33 on Tuesday. Saratoga Investment has a 52-week low of $22.35 and a 52-week high of $27.95. The firm has a market capitalization of $333.32 million, a price-to-earnings ratio of 34.27 and a beta of 1.30. The company has a fifty day simple moving average of $23.38 and a 200-day simple moving average of $23.92. The company has a quick ratio of 0.07, a current ratio of 0.07 and a debt-to-equity ratio of 0.09.

Saratoga Investment (NYSE:SAR) last released its earnings results on Monday, May 6th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.96 by ($0.02). Saratoga Investment had a return on equity of 14.53% and a net margin of 6.22%. The business had revenue of $37.23 million for the quarter, compared to analysts’ expectations of $36.59 million. On average, equities analysts anticipate that Saratoga Investment will post 3.73 EPS for the current fiscal year.

Analyst Ratings Changes

SAR has been the subject of a number of research reports. Oppenheimer lowered shares of Saratoga Investment from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $24.00 to $23.00 in a report on Wednesday, May 8th. StockNews.com raised shares of Saratoga Investment from a “sell” rating to a “hold” rating in a research report on Wednesday, May 15th. Six equities research analysts have rated the stock with a hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $25.69.

Saratoga Investment Company Profile

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.