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. It seeks to invest in the United States. The firm primarily invests $5 million to $20 million in companies having EBITDA of $2 million or greater and revenues of $8 million to $150 million. It invests through direct lending as well as participation in loan syndicates. The firm was formerly known as GSC Investment Corp. Saratoga Investment Corp. is based in New York, New York with an additional office in Florham Park, New Jersey.
Industry, Sector and Symbol
Stock Exchange NYSE
Industry Investment advice
Sub-IndustryN/A
SectorFinance
SymbolNYSE:SAR
CUSIPN/A
Phone212-906-7800
Debt
Debt-to-Equity RatioN/A
Current Ratio0.08
Quick Ratio0.08
Price-To-Earnings
Trailing P/E Ratio10.81
Forward P/E Ratio10.93
P/E GrowthN/A
Sales & Book Value
Annual Sales$38.62 million
Price / Sales4.05
Cash Flow$2.3732 per share
Price / Cash10.45
Book Value$22.98 per share
Price / Book1.08
Profitability
EPS (Most Recent Fiscal Year)$2.27
Net Income$17.67 million
Net Margins50.76%
Return on Equity10.52%
Return on Assets4.12%
Miscellaneous
EmployeesN/A
Outstanding Shares6,300,000
Market Cap$154.13
Saratoga Investment (NYSE:SAR) Frequently Asked Questions
What is Saratoga Investment's stock symbol?
Saratoga Investment trades on the New York Stock Exchange (NYSE) under the ticker symbol "SAR."
How often does Saratoga Investment pay dividends? What is the dividend yield for Saratoga Investment?
Saratoga Investment announced a quarterly dividend on Wednesday, May 30th. Investors of record on Friday, June 15th will be paid a dividend of $0.51 per share on Wednesday, June 27th. This represents a $2.04 dividend on an annualized basis and a dividend yield of 8.23%. The ex-dividend date of this dividend is Thursday, June 14th. This is a positive change from Saratoga Investment's previous quarterly dividend of $0.50. View Saratoga Investment's Dividend History.
How will Saratoga Investment's stock buyback program work?
Saratoga Investment declared that its board has initiated a share repurchase plan on Wednesday, October 12th 2016, which permits the company to repurchase 600,000 shares, according to EventVestor. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.
How were Saratoga Investment's earnings last quarter?
Saratoga Investment Corp (NYSE:SAR) posted its earnings results on Wednesday, July, 11th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.55 by $0.06. The financial services provider had revenue of $10.49 million for the quarter, compared to the consensus estimate of $9.79 million. Saratoga Investment had a return on equity of 10.52% and a net margin of 50.76%. View Saratoga Investment's Earnings History.
When is Saratoga Investment's next earnings date?
What price target have analysts set for SAR?
7 brokers have issued 1-year price targets for Saratoga Investment's shares. Their predictions range from $23.50 to $24.00. On average, they expect Saratoga Investment's share price to reach $23.8333 in the next year. This suggests that the stock has a possible downside of 3.9%. View Analyst Ratings for Saratoga Investment.
What is the consensus analysts' recommendation for Saratoga Investment?
7 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Saratoga Investment in the last year. There are currently 3 hold ratings and 4 buy ratings for the stock, resulting in a consensus recommendation of "Buy."
What are Wall Street analysts saying about Saratoga Investment stock?
Here are some recent quotes from research analysts about Saratoga Investment stock:
- 1. National Securities analysts commented, "• For fiscal 1Q19, SAR posted adjusted NII/share of $0.64, significantly above our $0.54/share estimate and the $0.51/share quarterly dividend. The dividend was increased by a penny during the quarter and we expect another penny increase for the quarter ending 8/31/18. However, we note that we think that the general run rate of earnings will be between $0.54- $0.56 per share and with OID acceleration and prepayment penalties comprising $0.03/share during the quarter we think that the dividend will be held steady at $0.52/share through fiscal 2020.
• During the quarter, Easy Ice was marked up by $685,000 or $0.11/share. Easy Ice comprises 7.8% of the portfolio at amortized cost as of 5/31/18. As a reminder, the company previously replaced a portion of its cash interest with Easy Ice with PIK in order to improve the free cash flow of the company. This has been a successful endeavor thus far as Easy Ice has had unrealized gains of $2.6 million since 5/31/17 or $0.41/share, helping to boost NAV/share and thus total return.
• While the enhanced cash flow and thus valuation of Easy Ice is certainly a positive for Saratoga, the negative is that PIK comprises a significant amount of investment income. PIK income was 7.2% of investment income in fiscal 1Q19, down from 10.1% the quarter prior but still meaningfully above 3.0% Y/Y. Thus, the cash coverage of the dividend is not as high as adjusted NII or GAAP NII coverage. Additionally, this is a high concentration of the portfolio in a single company and while in this instance it is a positive as Easy Ice has continued to perform strongly, if there is an adverse event for the company it could hit NAV/share substantially.
• The company previously announced that it was selling down its TM Restaurant Group non-accrual and did so during the quarter. TM Restaurant’s total cost was reduced to $2.2 million from $9.8 million Q/Q, bringing total non-accruals at cost down to $3.4 million or 1.0% of the portfolio from $11.0 million or 3.2% of the portfolio Q/Q.
• We are revising our 2019 adjusted NII/share estimate to $2.29 from $2.19 and our fiscal 2020 adjusted NII/share estimate to $2.20 from $2.18." (7/12/2018)
- 2. According to Zacks Investment Research, "Saratoga Investment Corporation, formerly known as GSC Investment Corp., is a specialty finance company that invests primarily in leveraged loans and mezzanine debt issued by U.S. middle-market companies, both through direct lending and through participation in loan syndicates. The Company has been elected to be treated as a business development company. " (5/17/2018)
Who are some of Saratoga Investment's key competitors?
Some companies that are related to Saratoga Investment include Triangle Capital (TCAP), Westwood Holdings Group (WHG), Fidus Investment (FDUS), Monroe Capital (MRCC), Silvercrest Asset Management Group (SAMG), Value Line (VALU), STONECASTLE Fin/COM (BANX), Gp Zgp (ZAIS), Hennessy Advisors (HNNA), Great Elm Capital (GECC), ALCENTRA Cap Co/SH (ABDC), Fifth Street Asset Management (FSAM), Manning and Napier (MN), U.S. Global Investors (GROW) and Medley Management (MDLY).
Who are Saratoga Investment's key executives?
Saratoga Investment's management team includes the folowing people:
- Mr. Christian L. Oberbeck, Chairman & CEO (Age 58)
- Mr. Michael J. Grisius, Pres & Director (Age 54)
- Mr. Henri J. Steenkamp, Chief Compliance Officer, Sec., Treasurer & CFO (Age 42)
- Rochelle Kracoff, Investor Contact
- Mr. Joseph Burkhart, Managing Director of Bus. Devel.
Has Saratoga Investment been receiving favorable news coverage?
Media coverage about SAR stock has trended somewhat positive recently, Accern reports. The research firm ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Saratoga Investment earned a media sentiment score of 0.07 on Accern's scale. They also gave news coverage about the financial services provider an impact score of 45.68 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock's share price in the near term.
Who are Saratoga Investment's major shareholders?
Saratoga Investment's stock is owned by a number of of retail and institutional investors. Top institutional investors include Mckinley Capital Management LLC Delaware (0.55%). Company insiders that own Saratoga Investment stock include Christian L Oberbeck and Elizabeth Oberbeck. View Institutional Ownership Trends for Saratoga Investment.
Which institutional investors are buying Saratoga Investment stock?
How do I buy shares of Saratoga Investment?
Shares of SAR 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 Saratoga Investment's stock price today?
One share of SAR stock can currently be purchased for approximately $24.80.
How big of a company is Saratoga Investment?
Saratoga Investment has a market capitalization of $154.13 million and generates $38.62 million in revenue each year. The financial services provider earns $17.67 million in net income (profit) each year or $2.27 on an earnings per share basis.
How can I contact Saratoga Investment?
Saratoga Investment's mailing address is 535 MADISON AVENUE, NEW YORK NY, 10022. The financial services provider can be reached via phone at 212-906-7800 or via email at [email protected]
MarketBeat Community Rating for Saratoga Investment (NYSE SAR)
MarketBeat's community ratings are surveys of what our community members think about Saratoga Investment and other stocks. Vote "Outperform" if you believe SAR will outperform the S&P 500 over the long term. Vote "Underperform" if you believe SAR will underperform the S&P 500 over the long term. You may vote once every thirty days.
