Saratoga Investment (NYSE:SAR) Releases Earnings Results, Beats Expectations By $0.18 EPS

Saratoga Investment (NYSE:SAR) issued its quarterly earnings results on Monday. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.18, Fidelity Earnings reports. Saratoga Investment had a return on equity of 7.54% and a net margin of 95.61%. During the same quarter in the prior year, the firm posted $0.49 earnings per share.

Shares of SAR stock opened at $29.80 on Thursday. The stock has a market cap of $333.25 million, a price-to-earnings ratio of 5.70, a PEG ratio of 1.68 and a beta of 1.71. The business’s fifty day moving average is $27.89 and its 200 day moving average is $26.57. Saratoga Investment has a twelve month low of $17.31 and a twelve month high of $30.25. The company has a quick ratio of 0.08, a current ratio of 0.08 and a debt-to-equity ratio of 0.12.

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 28th. Investors of record on Tuesday, September 14th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 6.98%. This is a boost from Saratoga Investment’s previous quarterly dividend of $0.44. The ex-dividend date was Monday, September 13th. Saratoga Investment’s dividend payout ratio is presently 102.97%.

A hedge fund recently raised its stake in Saratoga Investment stock. Wells Fargo & Company MN raised its stake in Saratoga Investment Corp. (NYSE:SAR) by 7.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 69,769 shares of the financial services provider’s stock after acquiring an additional 4,953 shares during the period. Wells Fargo & Company MN owned approximately 0.62% of Saratoga Investment worth $1,874,000 as of its most recent SEC filing. 10.05% of the stock is currently owned by hedge funds and other institutional investors.

SAR has been the subject of a number of recent research reports. Oppenheimer initiated coverage on Saratoga Investment in a research report on Tuesday, June 15th. They issued an “outperform” rating and a $29.00 target price for the company. Raymond James initiated coverage on Saratoga Investment in a research report on Tuesday, June 22nd. They issued an “outperform” rating and a $30.00 target price for the company. B. Riley boosted their price objective on Saratoga Investment from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, July 9th. Zacks Investment Research downgraded Saratoga Investment from a “buy” rating to a “hold” rating in a research report on Tuesday, September 7th. Finally, Maxim Group reiterated a “buy” rating and issued a $31.00 price objective on shares of Saratoga Investment in a research report on Friday, August 27th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $29.43.

Saratoga Investment Company Profile

Saratoga Investment Corp. (NYSE: SAR) is a publicly traded business development company (BDC) that provides customized financing solutions for middle market companies located in the United States. Saratoga’s senior investment professionals have over 200 years of combined experience investing in more than $4 billion in middle market businesses.

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Earnings History for Saratoga Investment (NYSE:SAR)

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