Saratoga Investment (SAR) Posts Earnings Results, Misses Estimates By $0.04 EPS

Saratoga Investment (NYSE:SAR) announced its quarterly earnings results on Wednesday. The financial services provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.04), Bloomberg Earnings reports. Saratoga Investment had a net margin of 29.96% and a return on equity of 8.79%.

Shares of Saratoga Investment (NYSE:SAR) traded up $0.44 during midday trading on Wednesday, hitting $22.65. The stock had a trading volume of 51,676 shares, compared to its average volume of 17,733. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.11 and a current ratio of 0.11. Saratoga Investment has a 12-month low of $19.90 and a 12-month high of $23.78. The stock has a market capitalization of $135.99, a P/E ratio of 12.45 and a beta of 0.47.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 27th. Stockholders of record on Friday, December 15th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 8.65%. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, December 14th. Saratoga Investment’s dividend payout ratio is presently 107.69%.

A hedge fund recently bought a new stake in Saratoga Investment stock. Northern Trust Corp purchased a new position in Saratoga Investment Corp (NYSE:SAR) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,213 shares of the financial services provider’s stock, valued at approximately $213,000. Northern Trust Corp owned 0.17% of Saratoga Investment as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 17.36% of the company’s stock.

A number of equities analysts recently commented on the company. ValuEngine raised Saratoga Investment from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. Zacks Investment Research downgraded Saratoga Investment from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, December 20th. Maxim Group upped their price objective on Saratoga Investment to $24.00 and gave the company a “buy” rating in a research report on Tuesday, October 17th. They noted that the move was a valuation call. National Securities restated a “neutral” rating and set a $23.00 price objective on shares of Saratoga Investment in a research report on Monday, October 16th. Finally, Compass Point upgraded Saratoga Investment from a “neutral” rating to a “buy” rating in a research report on Friday, October 13th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $24.33.

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About Saratoga Investment

Saratoga Investment Corp. is a specialty finance company. The Company is an externally managed, closed-end, non-diversified management investment company. The Company invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments.

Earnings History for Saratoga Investment (NYSE:SAR)

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