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About Garrison Capital (NASDAQ:GARS)
Garrison Capital Inc. is a 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 investment advisor is Garrison Capital Advisers LLC.
Industry, Sector and Symbol
Industry Investors, not elsewhere classified
Trailing P/E Ratio8.03
Forward P/E Ratio8.10
Sales & Book Value
Annual Sales$36.62 million
Price / Sales3.76
Cash Flow$1.0325 per share
Price / Cash8.32
Book Value$11.54 per share
Price / Book0.74
EPS (Most Recent Fiscal Year)$1.07
Net Income$6.22 million
Return on Equity9.58%
Return on Assets4.38%
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 Monday, May 14th. Shareholders of record on Friday, June 8th will be paid a dividend of $0.28 per share on Friday, June 22nd. This represents a $1.12 dividend on an annualized basis and a yield of 13.04%. The ex-dividend date of this dividend is Thursday, June 7th. View Garrison Capital's Dividend History.
How were Garrison Capital's earnings last quarter?
Garrison Capital Inc (NASDAQ:GARS) announced its quarterly earnings results on Tuesday, May, 8th. The investment management company reported $0.31 earnings per share for the quarter, beating the Zacks' consensus estimate of $0.29 by $0.02. The investment management company had revenue of $10.22 million for the quarter, compared to the consensus estimate of $9.91 million. Garrison Capital had a net margin of 32.34% and a return on equity of 9.58%. View Garrison Capital's Earnings History.
When is Garrison Capital's next earnings date?
What price target have analysts set for GARS?
2 brokers have issued 12-month price targets for Garrison Capital's stock. Their predictions range from $10.00 to $11.00. On average, they anticipate Garrison Capital's share price to reach $10.50 in the next year. 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. " (5/15/2018)
- 2. National Securities analysts commented, "• For 1Q18, GARS earned NII/share of $0.31, a penny shy of our estimate but two cents above consensus. Fee income was bolstered by the prepayment of oil & gas investments. We think a resumption of the incentive fee being earned in 3Q18 will induce a dividend cut to $0.24/share from $0.28/share currently, although the earnings outlook through 2019 is positive.
• In late March, Garrison’s Board approved the increased leverage available to BDCs. With regulatory D/E finishing 3/31/18 at 0.96x, this will certainly be very beneficial to GARS. The company will also seek shareholder approval sooner to expedite when the increased leverage is available, although we do not model the increased leverage being available until March 2019 to be conservative. The benefit of receiving the approval earlier, aside from breathing room, would be to upsize the CLO concomitant with refinancing it after the non-call period ends in September.
• On the earnings call, management noted that they will reduce the management fees as the increased leverage permits more balance sheet growth. While a hard number was not provided on the call, we applaud management for ensuring that the benefits from the increased leverage flow to shareholders. We expect the base fee to be cut by 25 bps in 1Q19.
• Garrison has the benefit of having spent the past couple of years focused on UMM, sponsor-backed investments. Not only does this portend to a more stable NAV going forward, but we also think this fits well into the increased leverage available. Garrison will not be changing what it is generally already putting on its balance sheet with the leverage increase like some its peers and we thus expect that the transition into higher leverage next year will be relatively seamless.
• Non-accruals at cost increased to $9.2 million of 2.3% of the portfolio from $5.0 million or 1.3% of the portfolio Q/Q. Previous non-accrual Rooster Energy was restructured and ProFusion industries was added to non-accrual status.
• We are revising our 2018 NII/share estimate to $1.14 from $1.11 and our 2019 adjusted NII/share estimate to $1.21 from $1.03. " (5/14/2018)
- 3. Maxim Group analysts commented, "GARS reported 4Q17 EPS of $0.23 (including $0.03 of non-recurring expenses) versus its dividend of $0.28, so NAV was stable (down 0.4%, to $11.69). We are maintaining our 2018 dividend estimate of $1.12, covered by earnings. 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 0.94x NAV, a modest discount to the 1.0x NAV level at which we believe well-performing BDCs should trade in the current environment." (3/9/2018)
Who are some of Garrison Capital's key competitors?
Some companies that are related to Garrison Capital include Pennantpark Floating Rate Capital (PFLT), PennantPark Investment (PNNT), Gladstone Investment (GAIN), Arlington Asset Investment (AI), Capital Southwest (CSWC), Safeguard Scientifics (SFE), Thl Credit (TCRD), Oaktree Strategic Income (OCSI), TriplePoint Venture Growth BDC (TPVG), Stellus Capital Investment (SCM), OFS Capital (OFS), Capitala Finance (CPTA), CM Finance (CMFN), American Capital (ACSF) and KCAP Financial (KCAP).
Who are Garrison Capital's key executives?
Garrison Capital's management team includes the folowing people:
- Joseph B. Tansey, Chairman of the Board, Chief Executive Officer (Age 42)
- Brian S Chase, Chief Financial Officer, Treasurer, interim Chief Compliance Officer, interim Secretary and Director (Age 39)
- Cecil E. Martin Jr., Independent Director (Age 75)
- Joseph L. Morea, Independent Director (Age 62)
- Matthew J. Westwood CPA, Independent Director (Age 44)
Has Garrison Capital been receiving favorable news coverage?
News articles about GARS stock have been trending positive on Thursday, Accern Sentiment Analysis reports. The research group identifies positive and negative media coverage by monitoring more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Garrison Capital earned a media sentiment score of 0.29 on Accern's scale. They also gave media coverage about the investment management company an impact score of 46.08 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock's share price in the next several days.
Who are Garrison Capital's major shareholders?
Garrison Capital's stock is owned by a number of of institutional and retail investors. Top institutional shareholders include Caxton Corp (6.95%), UBS Group AG (1.94%), BlackRock Inc. (0.55%), Millennium Management LLC (0.19%) and Blair William & Co. IL (0.18%). Company insiders that own Garrison Capital stock include Brian S Chase, Cecil E Martin Jr, Joseph Bertrand Tansey, Joseph Morea and Matthew Joseph Westwood. View Institutional Ownership Trends for Garrison Capital.
Which major investors are selling Garrison Capital stock?
Which major investors are buying Garrison Capital stock?
GARS stock was acquired by a variety of institutional investors in the last quarter, including Caxton Corp, Blair William & Co. IL and Millennium Management LLC. Company insiders that have bought Garrison Capital stock in the last two years include Brian S Chase, Cecil E Martin Jr, Joseph Bertrand Tansey, Joseph Morea and Matthew Joseph Westwood. View Insider Buying and Selling for Garrison Capital.
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 $8.59.
How big of a company is Garrison Capital?
Garrison Capital has a market capitalization of $136.10 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.
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 (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.
Garrison Capital (NASDAQ:GARS) Price Target and Consensus Rating (How are Consensus Ratings Calculated?)
MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0-1.5 = Sell, 1.5-2.5 = Hold, 2.5-3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.
2 Wall Street analysts have issued ratings and price targets for Garrison Capital in the last 12 months. Their average twelve-month price target is $10.50, suggesting that the stock has a possible upside of 22.24%. The high price target for GARS is $11.00 and the low price target for GARS is $10.00. There are currently 2 buy ratings for the stock, resulting in a consensus rating of "Buy."
|Today||30 Days Ago||90 Days Ago||180 Days Ago|
|Consensus Rating: ||Buy||Hold||Hold||Hold|
|Consensus Rating Score: ||3.00||2.40||2.17||2.17|
|Ratings Breakdown: ||0 Sell Rating(s)|
0 Hold Rating(s)
2 Buy Rating(s)
0 Strong Buy Rating(s)
|0 Sell Rating(s)|
3 Hold Rating(s)
2 Buy Rating(s)
0 Strong Buy Rating(s)
|0 Sell Rating(s)|
5 Hold Rating(s)
1 Buy Rating(s)
0 Strong Buy Rating(s)
|0 Sell Rating(s)|
5 Hold Rating(s)
1 Buy Rating(s)
0 Strong Buy Rating(s)
|Consensus Price Target: ||$10.50||$10.50||$10.3333||$10.3333|
|Price Target Upside: ||22.24% upside||29.15% upside||23.16% upside||23.16% upside|
Garrison Capital (NASDAQ:GARS) Consensus Price Target History
Garrison Capital (NASDAQ:GARS) Analyst Ratings History
(Data available from 5/24/2016 forward)
Garrison Capital (NASDAQ:GARS) Dividend Information
Garrison Capital pays an annual dividend of $1.12 per share, with a dividend yield of 13.04%. GARS's next quarterly dividend payment will be made on Friday, June 22. Garrison Capital pays out 104.67% of its earnings out as a dividend.
|Payout Ratio(s):||104.67% (Trailing 12 Months of Earnings) |
105.66% (Based on This Year's Estimates)
116.67% (Based on Next Year's Estimates)
108.48% (Based on Cash Flow)
Garrison Capital (NASDAQ:GARS) Dividend History by Quarter
(Data available from 1/1/2013 forward)
|Announced||Period||Amount||Yield||Ex-Dividend Date||Record Date||Payable Date|
Garrison Capital (NASDAQ GARS) Insider Trading and Institutional Ownership History
Insider Ownership Percentage: 6.40%
Institutional Ownership Percentage: 25.92%
Garrison Capital (NASDAQ GARS) Insider Trading History
(Data available from 1/1/2013 forward)
|Transaction Date||Insider Name||Title||Buy/Sell||Number of Shares||Average Share Price||Total Transaction||Shares Held After Transaction||Details|
|12/8/2017||Brian S Chase||CFO||Buy||7,000||$8.17||$57,190.00||59,135|| |
|12/8/2017||Joseph Bertrand Tansey||CEO||Buy||7,300||$8.33||$60,809.00||133,196|| |
|12/6/2017||Joseph Bertrand Tansey||CEO||Buy||4,500||$8.45||$38,025.00||133,196|| |
|12/1/2017||Joseph Bertrand Tansey||CEO||Buy||9,900||$8.42||$83,358.00||123,696|| |
|11/21/2017||Joseph Bertrand Tansey||CEO||Buy||7,902||$8.27||$65,349.54||103,796|| |
|11/17/2017||Brian S Chase||CFO||Buy||4,000||$8.15||$32,600.00||50,135|| |
|9/13/2017||Cecil E Martin Jr||Director||Buy||3,000||$8.23||$24,690.00||4,500|| |
|8/14/2017||Joseph Morea||Director||Buy||1,000||$8.22||$8,220.00||4,500|| |
|8/11/2017||Brian S Chase||CFO||Buy||4,000||$8.07||$32,280.00||46,135|| |
|5/19/2017||Brian S Chase||CFO||Buy||2,010||$8.60||$17,286.00||42,325|| |
|5/17/2017||Joseph Bertrand Tansey||CEO||Buy||9,000||$8.70||$78,300.00||103,696|| |
|5/16/2017||Brian S Chase||CFO||Buy||6,000||$8.69||$52,140.00||40,125|| |
|5/16/2017||Joseph Bertrand Tansey||CEO||Buy||16,700||$8.83||$147,461.00||82,996|| |
|5/15/2017||Joseph Morea||Director||Buy||500||$9.05||$4,525.00||3,100|| |
|3/13/2017||Brian S Chase||CFO||Buy||5,000||$9.82||$49,100.00||36,125|| |
|3/13/2017||Joseph Morea||Director||Buy||1,000||$9.85||$9,850.00||3,000|| |
|11/28/2016||Joseph Morea||Director||Buy||500||$9.37||$4,685.00||2,000|| |
|11/16/2016||Brian S Chase||CFO||Buy||1,000||$8.96||$8,960.00||31,125|| |
|11/15/2016||Brian S Chase||CFO||Buy||4,411||$8.95||$39,478.45||28,725|| |
|11/14/2016||Brian S Chase||CFO||Buy||3,011||$9.00||$27,099.00||28,725|| |
|6/9/2016||Matthew Joseph Westwood||Director||Buy||2,000||$10.17||$20,340.00||14,032|| |
|6/7/2016||Joseph Bertrand Tansey||CEO||Buy||10,000||$10.47||$104,700.00||77,996|| |
|5/19/2016||Bruce W Shewmaker||Director||Buy||1,000||$10.01||$10,010.00||15,300|| |
|5/18/2016||Rafael Astruc||Director||Buy||2,500||$10.15||$25,375.00||469|| |
|3/21/2016||Bruce W Shewmaker||Director||Buy||1,500||$10.29||$15,435.00||14,300|| |
|3/21/2016||Joseph Bertrand Tansey||CEO||Buy||329||$10.26||$3,375.54||67,996|| |
|3/18/2016||Joseph Bertrand Tansey||CEO||Buy||4,000||$10.31||$41,240.00||67,667|| |
|3/17/2016||Joseph Bertrand Tansey||CEO||Buy||16,001||$10.24||$163,850.24||49,666|| |
|3/9/2016||Brian S Chase||CFO||Buy||8,100||$10.04||$81,324.00||24,714|| |
|3/9/2016||Joseph Bertrand Tansey||CEO||Buy||6,795||$9.90||$67,270.50||43,666|| |
|3/9/2016||Joseph Morea||Director||Buy||500||$9.92||$4,960.00||1,000|| |
|3/8/2016||Brian S Chase||CFO||Buy||1,600||$9.98||$15,968.00||24,714|| |
|3/8/2016||Bruce W Shewmaker||Director||Buy||2,000||$10.10||$20,200.00||12,800|| |
|3/7/2016||Brian S Chase||CFO||Buy||5,000||$10.10||$50,500.00||24,714|| |
|11/16/2015||Bruce W. Shewmaker||Director||Buy||1,000||$13.45||$13,450.00||10,800|| |
|3/23/2015||Steven Scott Stuart||Major Shareholder||Sell||1,009,990||$14.62||$14,766,053.80|| |
|3/19/2015||Brian S Chase||Insider||Buy||2,000||$14.58||$29,160.00|| |
|3/19/2015||Michelle Rancic||CAO||Buy||3,500||$14.58||$51,030.00|| |
|12/18/2014||Steven Scott Stuart||Major Shareholder||Sell||100,000||$14.69||$1,469,000.00|| |
|12/10/2014||Steven Scott Stuart||Major Shareholder||Sell||7,000||$14.68||$102,760.00|| |
|12/8/2014||Brian S Chase||CFO||Buy||2,000||$14.65||$29,300.00|| |
|12/4/2014||Brian S Chase||CFO||Buy||1,000||$14.94||$14,940.00|| |
|12/1/2014||Brian S Chase||CFO||Buy||3,000||$14.74||$44,220.00|| |
|9/9/2014||Rafael Astruc||Director||Buy||1,115||$14.69||$16,379.35|| |
|8/15/2014||Brian S Chase||CFO||Buy||1,035||$14.49||$14,997.15|| |
|8/13/2014||Steven Scott Stuart||Major Shareholder||Sell||220,190||$14.50||$3,192,755.00|| |
|8/12/2014||Joseph Bertrand Tansey||CEO||Buy||2,599||$14.43||$37,503.57|| |
|8/11/2014||Brian S Chase||CFO||Buy||2,000||$14.45||$28,900.00|| |
|8/11/2014||Joseph Bertrand Tansey||CEO||Buy||99||$14.43||$1,428.57|| |
|7/17/2014||Steven Scott Stuart||Major Shareholder||Sell||2,000,000||$14.50||$29,000,000.00|| |
|6/5/2014||Brian S Chase||CFO||Buy||1,318||$14.62||$19,269.16|| |
|4/23/2014||Steven Scott Stuart||major shareholder||Sell||600,000||$14.00||$8,400,000.00||7,000|| |
|4/10/2014||Matthew Joseph Westwood||Director||Buy||4,000||$14.20||$56,800.00||7,300|| |
|4/7/2014||Brian Chase||CFO||Buy||4,000||$14.18||$56,720.00||10,700|| |
|12/11/2013||Joseph Bertrand Tansey||CEO||Buy||4,100||$14.33||$58,753.00||7,225|| |
|12/11/2013||Steven Scott Stuart||major shareholder||Buy||7,000||$14.78||$103,460.00||7,000|| |
|12/9/2013||Brian Chase||CFO||Buy||1,700||$14.43||$24,531.00||6,700|| |
|12/6/2013||Bruce Shewmaker||Director||Buy||1,000||$14.44||$14,440.00||4,500|| |
|12/6/2013||Joseph Bertrand Tansey||CEO||Buy||1,060||$14.51||$15,380.60||3,125|| |
|12/2/2013||Joseph Bertrand Tansey||CEO||Buy||2,065||$14.50||$29,942.50||2,065|| |
|11/27/2013||Brian Chase||CFO||Buy||2,000||$14.20||$28,400.00||5,000|| |
|4/2/2013||Cecil E Martin Jr||Director||Buy||3,000||$15.00||$45,000.00|| |
|4/2/2013||Joseph Bertrand Tansey||CEO||Buy||66,667||$15.00||$1,000,005.00|| |
Garrison Capital (NASDAQ GARS) News Headlines
Garrison Capital (NASDAQ:GARS) SEC Filings
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Garrison Capital (NASDAQ:GARS) Income Statement, Balance Sheet and Cash Flow Statement
Garrison Capital (NASDAQ GARS) Stock Chart for Thursday, May, 24, 2018