Wall Street brokerages expect Garrison Capital Inc (NASDAQ:GARS) to report sales of $9.47 million for the current quarter, Zacks reports. Three analysts have provided estimates for Garrison Capital’s earnings. The lowest sales estimate is $9.40 million and the highest is $9.57 million. Garrison Capital posted sales of $9.69 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.3%. The business is scheduled to issue its next earnings report on Tuesday, March 5th.
On average, analysts expect that Garrison Capital will report full year sales of $38.68 million for the current fiscal year, with estimates ranging from $38.60 million to $38.79 million. For the next financial year, analysts anticipate that the business will report sales of $42.62 million, with estimates ranging from $40.70 million to $43.61 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that cover Garrison Capital.
Garrison Capital (NASDAQ:GARS) last posted its quarterly earnings results on Tuesday, November 6th. The investment management company reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.05). Garrison Capital had a net margin of 25.90% and a return on equity of 9.39%. The business had revenue of $9.31 million during the quarter, compared to analyst estimates of $9.78 million.
Several hedge funds have recently modified their holdings of the business. Advisors Asset Management Inc. grew its holdings in shares of Garrison Capital by 22.4% during the third quarter. Advisors Asset Management Inc. now owns 333,252 shares of the investment management company’s stock worth $2,759,000 after purchasing an additional 60,950 shares during the last quarter. Clear Harbor Asset Management LLC purchased a new position in shares of Garrison Capital during the third quarter worth about $712,000. Acadian Asset Management LLC grew its holdings in shares of Garrison Capital by 86.3% during the third quarter. Acadian Asset Management LLC now owns 71,053 shares of the investment management company’s stock worth $588,000 after buying an additional 32,922 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Garrison Capital by 24.6% during the first quarter. Millennium Management LLC now owns 30,810 shares of the investment management company’s stock worth $250,000 after buying an additional 6,075 shares during the last quarter. Finally, Macquarie Group Ltd. purchased a new position in shares of Garrison Capital during the second quarter worth about $211,000. 26.37% of the stock is currently owned by institutional investors.
Garrison Capital stock traded down $0.07 during midday trading on Tuesday, reaching $7.53. The company’s stock had a trading volume of 58,213 shares, compared to its average volume of 42,131. Garrison Capital has a fifty-two week low of $7.58 and a fifty-two week high of $8.95. The company has a debt-to-equity ratio of 1.35, a current ratio of 3.11 and a quick ratio of 3.11. The stock has a market cap of $120.85 million, a PE ratio of 7.04 and a beta of 0.34.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 21st. Shareholders of record on Friday, December 7th will be issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 12.22%. The ex-dividend date of this dividend is Thursday, December 6th. Garrison Capital’s payout ratio is 104.67%.
About Garrison Capital
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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