Saratoga Investment Corp Declares Sep 25 Dividend of $0.25 (NYSE:SAR)

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. Investors of record on Tuesday, October 7th will be paid a dividend of 0.25 per share by the financial services provider on Thursday, October 23rd. This represents a yield of 1,221.0%. The ex-dividend date of this dividend is Tuesday, October 7th.

Saratoga Investment Trading Up 0.4%

Shares of SAR stock traded up $0.11 on Tuesday, hitting $24.30. 52,594 shares of the stock traded hands, compared to its average volume of 116,050. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.32 and a current ratio of 0.32. Saratoga Investment has a twelve month low of $21.10 and a twelve month high of $26.49. The firm's 50-day moving average price is $25.03 and its two-hundred day moving average price is $24.51. The stock has a market capitalization of $387.55 million, a PE ratio of 9.84 and a beta of 0.67.

Saratoga Investment (NYSE:SAR - Get Free Report) last issued its earnings results on Tuesday, July 8th. The financial services provider reported $0.66 EPS for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03). The firm had revenue of $35.22 million for the quarter, compared to analysts' expectations of $32.75 million. Saratoga Investment had a return on equity of 12.71% and a net margin of 24.85%. As a group, analysts anticipate 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 price objective for the company from $25.25 to $24.25 in a report on Monday, June 9th. Four research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Saratoga Investment presently has an average rating of "Hold" and an average 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.