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. The fund focuses on consumer loans, capital market activities, traditional direct lending but at times may purchase loans in the secondary market or make special situation investments. It seeks to invest between $5 million and $25 million in equity and between $10 million and $25 million in debt per transaction primarily in debt securities and loans with annual EBITDA between $5 million and $30 million, annual revenue between $50 million and $200 million. Its investments typically range in maturity from one to six years.
Industry, Sector and Symbol
Stock Exchange NASDAQ
Industry Investors, not elsewhere classified
Sub-IndustryN/A
SectorFinance
Current SymbolNASDAQ:GARS
Previous Symbol
CUSIPN/A
Phone212-372-9590
Debt
Debt-to-Equity Ratio1.29
Current Ratio1.56
Quick Ratio1.56
Price-To-Earnings
Trailing P/E Ratio7.55
Forward P/E Ratio7.21
P/E GrowthN/A
Sales & Book Value
Annual Sales$36.62 million
Price / Sales3.54
Cash Flow$1.0176 per share
Price / Cash7.94
Book Value$11.69 per share
Price / Book0.69
Profitability
EPS (Most Recent Fiscal Year)$1.07
Net Income$6.22 million
Net Margins33.79%
Return on Equity9.53%
Return on Assets4.22%
Miscellaneous
Employees71
Outstanding Shares16,050,000
Market Cap$129.92 million
OptionableN/A
Garrison Capital (NASDAQ:GARS) Frequently Asked Questions
What is Garrison Capital's stock symbol?
Garrison Capital trades on the NASDAQ under the ticker symbol "GARS."
How often does Garrison Capital pay dividends? What is the dividend yield for Garrison Capital?
Garrison Capital declared a quarterly dividend on Tuesday, July 31st. Stockholders of record on Friday, September 7th will be paid a dividend of $0.28 per share on Friday, September 21st. This represents a $1.12 annualized dividend and a dividend yield of 13.86%. The ex-dividend date of this dividend is Thursday, September 6th. View Garrison Capital's Dividend History.
How were Garrison Capital's earnings last quarter?
Garrison Capital Inc (NASDAQ:GARS) issued its earnings results on Tuesday, August, 7th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the Zacks' consensus estimate of $0.28 by $0.01. The investment management company had revenue of $9.69 million for the quarter, compared to analyst estimates of $9.88 million. Garrison Capital had a net margin of 33.79% and a return on equity of 9.53%. View Garrison Capital's Earnings History.
When is Garrison Capital's next earnings date?
What price target have analysts set for GARS?
2 equities research analysts have issued 1-year price objectives for Garrison Capital's shares. Their forecasts range from $11.00 to $12.00. On average, they expect Garrison Capital's stock price to reach $11.50 in the next year. This suggests a possible upside of 42.3% from the stock's current price. View Analyst Price Targets for Garrison Capital.
What is the consensus analysts' recommendation for Garrison Capital?
2 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Garrison Capital in the last year. There are currently 2 buy ratings for the stock, resulting in a consensus recommendation of "Buy." View Analyst Ratings for Garrison Capital.
What are Wall Street analysts saying about Garrison Capital stock?
Here are some recent quotes from research analysts about Garrison Capital stock:
- 1. According to Zacks Investment Research, "Garrison Capital Inc. is an externally managed, closed-end, non-diversified management investment company. The Company's investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA of certain amount. It invests or provides direct lending in first lien senior secured loans, second lien senior secured loans, one-stop senior secured loans or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies. The Company intends to generate risk-adjusted net returns by assembling a portfolio of investments. The Company's investments include debt investments, preferred and minority equity investments (equity) of diversified companies and a portfolio of unsecured small balance consumer loans. " (10/10/2018)
- 2. National Securities analysts commented, " Garrison earned adjusted NII/share of $0.27, a penny shy of the quarterly dividend and 3 cents below our estimate. The company is expected to resume earning its incentive fee in 4Q18 which would likely induce a dividend cut.
However, given the extremely shareholder friendly actions taken by the company we expect the company to waive its incentive fee during the quarter and thereafter for increased balance sheet leverage to permit dividend coverage without waivers.
At a 13.3% dividend yield and 27% discount to NAV/share, the market is pricing in a dividend reduction and further asset quality declines. We think that when the market is proven wrong about the dividend cut that it will be a major upward catalyst for the share price of GARS. Additionally, we expect that with many legacy, non-sponsor LMM investments now written off or repaid, the remaining UMM book has a far lower likelihood of going on non-accrual which bodes well for NAV stability going forward and should thus improve the NAV multiple that the stock trades at.
After 9/30/18, GARS has the ability to refinance its MM CLO. We model the weighted average spread to be reduced by 99 bps during the quarter and for the CLO to be upsized by $140 million. Subsequent to 4Q18, we think the revolving note will pay down modestly in favor of more SBA debentures to keep regulatory leverage near or below Garrison’s reduced asset coverage target of 1.75x.
We are revising our 2018 adjusted NII/share estimate to $1.15 from $1.14 and are maintaining 2019 adjusted NII/share estimate of $1.21. We maintaining our BUY rating and increasing our price target to $11 from $10." (8/13/2018)
- 3. Maxim Group analysts commented, "GARS reported 2Q18 EPS of $0.18 versus its dividend of $0.28, so NAV was down 0.9%, to $11.44. We are maintaining our 2018 dividend estimate of $1.12, representing a yield of 13.3%, covered by earnings in the remaining two quarters of 2018. Earnings should be helped by the 4Q18 refinancing of GARS’ CLO. As GARS has now resolved most of its legacy problem loans, we are now valuing it closer to peers that have not encountered difficulties. Our price target of $11 equates to 0.96x NAV, a discount to the 1.0x NAV level at which we believe well-performing BDCs should trade in the current environment." (8/9/2018)
Who are some of Garrison Capital's key competitors?
Some companies that are related to Garrison Capital include PennantPark Investment (PNNT), Pennantpark Floating Rate Capital (PFLT), Gladstone Investment (GAIN), Capital Southwest (CSWC), THL Credit (TCRD), Oaktree Strategic Income (OCSI), Arlington Asset Investment (AI), Triplepoint Venture Growth BDC (TPVG), Stellus Capital Investment (SCM), Safeguard Scientifics (SFE), OFS Capital (OFS), Capitala Finance (CPTA), Amern Cap Sr Fl/COM (ACSF), Firsthand Technology Value Fund (SVVC) and KCAP Financial (KCAP).
Who are Garrison Capital's key executives?
Garrison Capital's management team includes the folowing people:
- Mr. Joseph B. Tansey, Chairman & CEO (Age 45)
- Mr. Brian Steven Chase, Treasurer & CFO (Age 40)
- Ms. Michelle Rancic, Chief Accounting Officer (Age 39)
- Mr. Daniel Hahn, Controller
How do I buy shares of Garrison Capital?
Shares of GARS can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Scottrade, Fidelity and Charles Schwab.
What is Garrison Capital's stock price today?
One share of GARS stock can currently be purchased for approximately $8.08.
How big of a company is Garrison Capital?
Garrison Capital has a market capitalization of $129.92 million and generates $36.62 million in revenue each year. The investment management company earns $6.22 million in net income (profit) each year or $1.07 on an earnings per share basis. Garrison Capital employs 71 workers across the globe.
What is Garrison Capital's official website?
How can I contact Garrison Capital?
Garrison Capital's mailing address is 1290 AVENUE OF THE AMERICAS SUITE 914, NEW YORK NY, 10104. The investment management company can be reached via phone at 212-372-9590.
MarketBeat Community Rating for Garrison Capital (NASDAQ GARS)
MarketBeat's community ratings are surveys of what our community members think about Garrison Capital and other stocks. Vote "Outperform" if you believe GARS will outperform the S&P 500 over the long term. Vote "Underperform" if you believe GARS will underperform the S&P 500 over the long term. You may vote once every thirty days.
