$18.79 Million in Sales Expected for Saratoga Investment Corp. (NYSE:SAR) This Quarter

Brokerages expect Saratoga Investment Corp. (NYSE:SARGet Rating) to announce sales of $18.79 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Saratoga Investment’s earnings, with the highest sales estimate coming in at $19.26 million and the lowest estimate coming in at $18.32 million. Saratoga Investment reported sales of $16.82 million in the same quarter last year, which indicates a positive year over year growth rate of 11.7%. The firm is expected to report its next earnings report on Monday, January 1st.

On average, analysts expect that Saratoga Investment will report full-year sales of $77.41 million for the current financial year, with estimates ranging from $75.09 million to $79.72 million. For the next financial year, analysts forecast that the firm will post sales of $85.42 million, with estimates ranging from $79.94 million to $90.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for Saratoga Investment.

Saratoga Investment (NYSE:SARGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The financial services provider reported $0.53 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.02). The firm had revenue of $18.98 million for the quarter, compared to the consensus estimate of $17.55 million. Saratoga Investment had a net margin of 64.65% and a return on equity of 7.66%.

A number of equities analysts recently issued reports on the stock. Compass Point decreased their price target on shares of Saratoga Investment to $29.00 and set a “na” rating for the company in a research note on Monday, May 16th. StockNews.com assumed coverage on shares of Saratoga Investment in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded shares of Saratoga Investment from a “hold” rating to a “sell” rating in a research note on Wednesday, March 9th. TheStreet downgraded shares of Saratoga Investment from a “b-” rating to a “c+” rating in a research note on Monday, January 24th. Finally, Hovde Group decreased their price target on shares of Saratoga Investment to $28.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Saratoga Investment presently has an average rating of “Buy” and a consensus price target of $30.00.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN grew its holdings in shares of Saratoga Investment by 7.6% during the second quarter. Wells Fargo & Company MN now owns 69,769 shares of the financial services provider’s stock valued at $1,874,000 after buying an additional 4,953 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of Saratoga Investment by 5.7% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 128,033 shares of the financial services provider’s stock valued at $3,680,000 after buying an additional 6,949 shares during the last quarter. Advisory Research Inc. purchased a new stake in shares of Saratoga Investment during the third quarter valued at approximately $585,000. Rockefeller Capital Management L.P. grew its holdings in shares of Saratoga Investment by 29.3% during the third quarter. Rockefeller Capital Management L.P. now owns 2,246 shares of the financial services provider’s stock valued at $64,000 after buying an additional 509 shares during the last quarter. Finally, Morgan Stanley grew its holdings in shares of Saratoga Investment by 174.8% during the third quarter. Morgan Stanley now owns 31,434 shares of the financial services provider’s stock valued at $903,000 after buying an additional 19,995 shares during the last quarter. 20.68% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:SAR traded down $0.15 during midday trading on Thursday, hitting $25.36. 32,089 shares of the stock traded hands, compared to its average volume of 43,408. The stock has a market capitalization of $307.46 million, a PE ratio of 6.31 and a beta of 1.48. The business’s 50 day moving average is $26.67 and its two-hundred day moving average is $27.66. The company has a quick ratio of 0.11, a current ratio of 0.11 and a debt-to-equity ratio of 0.04. Saratoga Investment has a one year low of $23.54 and a one year high of $30.25.

The firm also recently announced a quarterly dividend, which was paid on Monday, March 28th. Shareholders of record on Monday, March 14th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 8.36%. The ex-dividend date was Friday, March 11th. Saratoga Investment’s dividend payout ratio is 52.74%.

Saratoga Investment Company Profile (Get Rating)

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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