Saratoga Investment (NYSE:SAR) Releases Earnings Results

Saratoga Investment (NYSE:SAR - Get Free Report) issued its earnings results on Tuesday. The financial services provider reported $0.66 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.69 by ($0.03), Zacks reports. Saratoga Investment had a return on equity of 14.04% and a net margin of 18.87%. The company had revenue of $28.00 million during the quarter, compared to analyst estimates of $32.75 million.

Saratoga Investment Trading Down 1.4%

Shares of SAR stock opened at $25.08 on Wednesday. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.13. The stock has a market cap of $385.23 million, a P/E ratio of 12.29 and a beta of 0.67. The stock has a 50 day simple moving average of $24.53 and a 200 day simple moving average of $24.46. Saratoga Investment has a 1 year low of $21.10 and a 1 year high of $26.49.

Saratoga Investment Dividend Announcement

The business also recently declared a dividend, which will be paid on Thursday, July 24th. Investors of record on Wednesday, July 9th will be paid a $0.25 dividend. This represents a dividend yield of 12.1%. The ex-dividend date is Tuesday, July 8th. Saratoga Investment's dividend payout ratio (DPR) is currently 147.06%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SAR shares. Compass Point lowered Saratoga Investment from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $25.25 to $24.25 in a research report on Monday, June 9th. Wall Street Zen lowered Saratoga Investment from a "buy" rating to a "hold" rating in a report on Tuesday, April 1st. Finally, B. Riley started coverage on Saratoga Investment in a research note on Tuesday, May 13th. They issued a "neutral" rating and a $23.50 price target on the stock. Five analysts have rated the stock with a hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $24.25.

Institutional Investors Weigh In On Saratoga Investment

A hedge fund recently raised its stake in Saratoga Investment stock. Royal Bank of Canada grew its position in Saratoga Investment Corp (NYSE:SAR - Free Report) by 4.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 23,476 shares of the financial services provider's stock after acquiring an additional 1,018 shares during the period. Royal Bank of Canada owned 0.15% of Saratoga Investment worth $595,000 as of its most recent filing with the SEC. Institutional investors own 19.09% of the company's stock.

About Saratoga Investment

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.