Saratoga Investment (NYSE:SAR) Posts Quarterly Earnings Results, Beats Estimates By $1.48 EPS

Saratoga Investment (NYSE:SAR) released its earnings results on Monday. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $1.48, Fidelity Earnings reports. The company had revenue of $13.86 million for the quarter, compared to analyst estimates of $12.95 million. Saratoga Investment had a net margin of 43.11% and a return on equity of 8.92%.

NYSE SAR opened at $19.97 on Thursday. The firm’s fifty day moving average price is $17.39 and its 200 day moving average price is $15.92. The company has a market capitalization of $223.15 million, a price-to-earnings ratio of 7.54 and a beta of 1.62. Saratoga Investment has a 12 month low of $5.94 and a 12 month high of $28.70.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Monday, October 26th will be given a $0.41 dividend. The ex-dividend date is Friday, October 23rd. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.40. This represents a $1.64 dividend on an annualized basis and a dividend yield of 8.21%. Saratoga Investment’s dividend payout ratio is currently 64.26%.

A number of equities research analysts have issued reports on the stock. Maxim Group reiterated a “buy” rating and set a $27.00 target price on shares of Saratoga Investment in a report on Tuesday, July 14th. Zacks Investment Research upgraded shares of Saratoga Investment from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a report on Saturday, October 10th. Finally, Compass Point increased their price objective on shares of Saratoga Investment from $16.50 to $19.75 and gave the company a “buy” rating in a research report on Monday, July 13th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $22.13.

In related news, CEO Christian L. Oberbeck bought 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 22nd. The shares were purchased at an average cost of $17.53 per share, with a total value of $35,060.00. Following the transaction, the chief executive officer now directly owns 716,450 shares of the company’s stock, valued at approximately $12,559,368.50. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Christian L. Oberbeck bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $17.51 per share, for a total transaction of $87,550.00. Following the completion of the transaction, the chief executive officer now directly owns 725,450 shares in the company, valued at $12,702,629.50. The disclosure for this purchase can be found here. Insiders purchased a total of 8,000 shares of company stock worth $139,500 over the last ninety days. Insiders own 15.70% of the company’s stock.

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.

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Earnings History for Saratoga Investment (NYSE:SAR)

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