Saratoga Investment Corp (NYSE:SAR) to Issue $0.25 Sep 25 Dividend

Key Points

• Saratoga Investment Corp has announced a $0.25 dividend scheduled for distribution on October 23, 2023, to shareholders on record as of October 7, 2023.
• The company's stock recently traded at $24.44, showing a slight decline, and it holds a market cap of $389.83 million with a price-to-earnings ratio of 9.91.
• Analysts have downgraded the stock's rating from "buy" to "neutral" and reduced the price target from $25.25 to $24.25, reflecting changing market sentiment.

Saratoga Investment Corp (NYSE:SAR - Get Free Report) declared a sep 25 dividend on Thursday, September 11th, RTT News reports. Shareholders of record on Tuesday, October 7th will be given a dividend of 0.25 per share by the financial services provider on Thursday, October 23rd.

Saratoga Investment Stock Performance

NYSE:SAR traded down $0.05 during trading hours on Thursday, reaching $24.44. The company had a trading volume of 13,491 shares, compared to its average volume of 116,115. The company has a current ratio of 0.32, a quick ratio of 0.32 and a debt-to-equity ratio of 0.18. Saratoga Investment has a 52 week low of $21.10 and a 52 week high of $26.49. The firm has a market cap of $389.83 million, a price-to-earnings ratio of 9.91 and a beta of 0.67. The firm's 50 day moving average price is $25.09 and its 200-day moving average price is $24.56.

Saratoga Investment (NYSE:SAR - Get Free Report) last posted its earnings results on Tuesday, July 8th. The financial services provider reported $0.66 earnings per share for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). The firm had revenue of $35.22 million during the quarter, compared to the consensus estimate of $32.75 million. Saratoga Investment had a net margin of 24.85% and a return on equity of 12.71%. On average, analysts forecast that Saratoga Investment will post 3.93 EPS for the current year.

Analysts Set New Price Targets

Separately, Compass Point lowered shares of Saratoga Investment from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $25.25 to $24.25 in a report on Monday, June 9th. Four equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $24.25.

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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