Saratoga Investment Corp (NYSE:SAR) Expected to Announce Quarterly Sales of $12.68 Million

Wall Street analysts expect Saratoga Investment Corp (NYSE:SAR) to announce $12.68 million in sales for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Saratoga Investment’s earnings, with the highest sales estimate coming in at $13.05 million and the lowest estimate coming in at $12.30 million. Saratoga Investment posted sales of $11.40 million during the same quarter last year, which suggests a positive year-over-year growth rate of 11.2%. The business is expected to issue its next earnings results on Wednesday, October 9th.

On average, analysts expect that Saratoga Investment will report full year sales of $50.94 million for the current year, with estimates ranging from $49.67 million to $52.21 million. For the next fiscal year, analysts anticipate that the firm will report sales of $53.08 million, with estimates ranging from $49.54 million to $56.62 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Saratoga Investment.

Saratoga Investment (NYSE:SAR) last announced its earnings results on Wednesday, July 10th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Saratoga Investment had a net margin of 44.66% and a return on equity of 10.75%. The company had revenue of $12.75 million for the quarter, compared to the consensus estimate of $12.21 million.

Several brokerages have issued reports on SAR. LADENBURG THALM/SH SH downgraded shares of Saratoga Investment from a “buy” rating to a “neutral” rating and set a $24.00 target price on the stock. in a research note on Friday, May 10th. They noted that the move was a valuation call. National Securities reissued a “neutral” rating and set a $24.00 target price on shares of Saratoga Investment in a research note on Friday, May 17th. Maxim Group reissued a “buy” rating and set a $27.00 target price on shares of Saratoga Investment in a research note on Friday, July 12th. Finally, Zacks Investment Research downgraded shares of Saratoga Investment from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $25.75.

Institutional investors have recently bought and sold shares of the company. Legal & General Group Plc grew its holdings in shares of Saratoga Investment by 33.0% during the 4th quarter. Legal & General Group Plc now owns 32,461 shares of the financial services provider’s stock valued at $646,000 after acquiring an additional 8,054 shares in the last quarter. Private Portfolio Partners LLC purchased a new position in shares of Saratoga Investment during the 1st quarter valued at $311,000. Advisors Asset Management Inc. purchased a new position in shares of Saratoga Investment during the 1st quarter valued at $198,000. PFG Advisors grew its holdings in shares of Saratoga Investment by 1.1% during the 1st quarter. PFG Advisors now owns 39,142 shares of the financial services provider’s stock valued at $981,000 after acquiring an additional 439 shares in the last quarter. Finally, North Star Investment Management Corp. purchased a new position in shares of Saratoga Investment during the 1st quarter valued at $25,000. Institutional investors and hedge funds own 14.78% of the company’s stock.

NYSE:SAR traded down $0.34 during trading hours on Friday, hitting $24.06. 65,905 shares of the stock traded hands, compared to its average volume of 46,792. The business’s 50 day simple moving average is $24.65. Saratoga Investment has a fifty-two week low of $18.60 and a fifty-two week high of $25.78. The firm has a market capitalization of $210.42 million, a price-to-earnings ratio of 9.15 and a beta of 0.64.

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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Earnings History and Estimates for Saratoga Investment (NYSE:SAR)

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