Saratoga Investment (SAR) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS

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

Saratoga Investment (NYSE:SAR) traded up $0.44 during midday trading on Wednesday, hitting $22.65. 51,700 shares of the company traded hands, 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. The company has a market cap of $135.99, a price-to-earnings ratio of 12.45 and a beta of 0.47. Saratoga Investment has a 1 year low of $19.90 and a 1 year high of $23.78.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 27th. Investors of record on Friday, December 15th were paid a dividend of $0.49 per share. This represents a $1.96 annualized dividend and a dividend yield of 8.65%. The ex-dividend date was Thursday, December 14th. This is a positive change from Saratoga Investment’s previous quarterly dividend of $0.48. Saratoga Investment’s payout ratio is 107.69%.

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

Several research analysts recently commented on SAR shares. Zacks Investment Research lowered shares of Saratoga Investment from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 20th. Maxim Group boosted their price objective on shares of Saratoga Investment to $24.00 and gave the stock a “buy” rating in a research note on Tuesday, October 17th. They noted that the move was a valuation call. Janney Montgomery Scott started coverage on shares of Saratoga Investment in a research note on Friday, October 6th. They set a “neutral” rating for the company. National Securities reiterated a “neutral” rating and set a $23.00 price objective on shares of Saratoga Investment in a research note on Monday, October 16th. Finally, Compass Point upgraded shares of Saratoga Investment from a “neutral” rating to a “buy” rating in a research note on Friday, October 13th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus 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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