Garrison Capital Inc (GARS) Expected to Announce Earnings of $0.22 Per Share

Wall Street analysts expect Garrison Capital Inc (NASDAQ:GARS) to announce earnings per share of $0.22 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Garrison Capital’s earnings. Garrison Capital posted earnings per share of $0.27 during the same quarter last year, which would indicate a negative year-over-year growth rate of 18.5%. The business is scheduled to report its next quarterly earnings report on Tuesday, August 6th.

On average, analysts expect that Garrison Capital will report full-year earnings of $0.88 per share for the current year, with EPS estimates ranging from $0.87 to $0.89. For the next financial year, analysts anticipate that the company will report earnings of $0.90 per share, with EPS estimates ranging from $0.89 to $0.92. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Garrison Capital.

Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings results on Tuesday, May 7th. The investment management company reported $0.20 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.01). The business had revenue of $10.23 million during the quarter, compared to analyst estimates of $10.75 million. Garrison Capital had a negative net margin of 3.06% and a positive return on equity of 8.29%.

Several brokerages have recently issued reports on GARS. National Securities cut shares of Garrison Capital from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $10.00 to $8.00 in a research note on Tuesday, May 14th. ValuEngine raised shares of Garrison Capital from a “sell” rating to a “hold” rating in a research note on Wednesday, May 1st. TheStreet cut shares of Garrison Capital from a “c” rating to a “d+” rating in a research note on Monday, April 22nd. Finally, Zacks Investment Research cut shares of Garrison Capital from a “buy” rating to a “hold” rating in a research note on Monday, March 11th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Garrison Capital currently has a consensus rating of “Hold” and an average target price of $9.33.

In related news, COO Brian S. Chase acquired 11,900 shares of the stock in a transaction dated Monday, March 11th. The stock was bought at an average cost of $7.47 per share, with a total value of $88,893.00. Following the purchase, the chief operating officer now directly owns 67,135 shares of the company’s stock, valued at $501,498.45. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Brian S. Chase acquired 4,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were bought at an average cost of $7.47 per share, with a total value of $29,880.00. Following the completion of the purchase, the chief operating officer now directly owns 71,135 shares in the company, valued at $531,378.45. The disclosure for this purchase can be found here. Insiders have bought a total of 67,632 shares of company stock valued at $504,202 over the last three months. Corporate insiders own 6.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GARS. Squarepoint Ops LLC purchased a new stake in Garrison Capital during the 4th quarter worth $76,000. National Asset Management Inc. boosted its position in Garrison Capital by 24.8% during the 4th quarter. National Asset Management Inc. now owns 18,603 shares of the investment management company’s stock worth $120,000 after purchasing an additional 3,700 shares during the period. Wells Fargo & Company MN boosted its position in Garrison Capital by 102.6% during the 1st quarter. Wells Fargo & Company MN now owns 20,799 shares of the investment management company’s stock worth $150,000 after purchasing an additional 10,534 shares during the period. Oppenheimer & Co. Inc. boosted its position in Garrison Capital by 18.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 24,526 shares of the investment management company’s stock worth $158,000 after purchasing an additional 3,901 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Garrison Capital by 68.1% during the 1st quarter. JPMorgan Chase & Co. now owns 23,675 shares of the investment management company’s stock worth $170,000 after purchasing an additional 9,587 shares during the period. 26.93% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ GARS traded down $0.03 during trading on Tuesday, hitting $6.89. 51,200 shares of the company traded hands, compared to its average volume of 35,106. Garrison Capital has a 1 year low of $6.03 and a 1 year high of $8.95. The stock has a market capitalization of $110.75 million, a PE ratio of 6.82 and a beta of 0.65. The company has a quick ratio of 3.83, a current ratio of 3.83 and a debt-to-equity ratio of 2.03.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, June 6th. This represents a $0.92 annualized dividend and a dividend yield of 13.35%. Garrison Capital’s dividend payout ratio is presently 91.09%.

Garrison Capital Company Profile

Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, “one-stop” senior secured or “unitranche” loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.

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