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
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 Ratio10.54
Forward P/E Ratio10.73
P/E GrowthN/A
Sales & Book Value
Annual Sales$38.62 million
Price / Sales3.89
Cash Flow$2.3054 per share
Price / Cash10.38
Book Value$22.97 per share
Price / Book1.04
Profitability
EPS (Most Recent Fiscal Year)$2.27
Net Income$17.67 million
Net Margins45.78%
Return on Equity10.46%
Return on Assets3.98%
Miscellaneous
EmployeesN/A
Outstanding Shares6,280,000
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 annualized dividend and a yield of 8.52%. The ex-dividend date of this dividend is Thursday, June 14th. This is a boost 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 approved a share repurchase plan on Wednesday, October 12th 2016, which authorizes the company to repurchase 600,000 shares, according to EventVestor. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company's board believes its shares are undervalued.
How were Saratoga Investment's earnings last quarter?
Saratoga Investment Corp (NYSE:SAR) released its quarterly earnings results on Tuesday, May, 15th. The financial services provider reported $0.89 EPS for the quarter, topping the consensus estimate of $0.53 by $0.36. The financial services provider earned $10.13 million during the quarter, compared to analysts' expectations of $9.59 million. Saratoga Investment had a return on equity of 10.46% and a net margin of 45.78%. View Saratoga Investment's Earnings History.
When is Saratoga Investment's next earnings date?
What price target have analysts set for SAR?
6 equities research analysts have issued twelve-month price objectives for Saratoga Investment's shares. Their forecasts range from $23.50 to $24.00. On average, they expect Saratoga Investment's stock price to reach $23.8333 in the next year. View Analyst Ratings for Saratoga Investment.
What are Wall Street analysts saying about Saratoga Investment stock?
Here are some recent quotes from research analysts about Saratoga Investment stock:
- 1. 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)
- 2. National Securities analysts commented, "• Saratoga posted adjusted NII/share of $0.61 for fiscal 4Q18, far above our $0.52 estimate and the $0.50 quarterly dividend. The company earned acceleration of unamortized OID and prepayment fees of $0.03-$0.04 per share during the quarter, which helped boost investment income overall.
• Easy Ice was marked up again on the quarter by $195,000. The investment continues to comprise a significant portion of the PIK income that Saratoga is accruing. On the quarter, SAR had PIK income of $1.0 million or $0.17/share.
• While the company granted Easy Ice PIK payments in lieu of cash in order to improve the free cash flow at the company so they can continue to expand operations, this nonetheless means that cash dividend coverage is lower than it otherwise would be.
• We expect that Saratoga still has room to grow its dividend. We think the general run rate of earnings should be in the mid $0.50s but do not expect much in terms of growth in said earnings through fiscal 2020. In our opinion, SAR will grow its dividend by another penny in fiscal 1Q19 and fiscal 2Q19. Although these levels would still be under the run rate of NII/share we estimate, we note that the company will likely want to maintain a cushion so that it does not need to reduce dividends in the future.
• TM Restaurant Group remains on non-accrual status and during the quarter M/C Acquisition Corp. was added with a cost of $1.2 million. In total, non-accruals at cost increased slightly Q/Q to $11.0 million or 3.2% of the portfolio from $9.8 million or 2.9% of the portfolio. Subsequent to quarter end, TM Restaurant group was restructured in proximity to 2/28/18 marks and we thus expect the event to be NAV-neutral.
• We are revising our 2019 adjusted NII/share estimate to $2.19 from $2.16 and are rolling out our fiscal 2020 adjusted NII/share estimate of $2.18." (5/16/2018)
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), Hennessy Advisors (HNNA), Gp Zgp (ZAIS), 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, CFO, Chief Compliance Officer, Treasurer & Sec. (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 on Thursday, according to Accern. Accern identifies positive and negative media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores closest to one being the most favorable. Saratoga Investment earned a news impact score of 0.06 on Accern's scale. They also assigned media headlines about the financial services provider an impact score of 45.13 out of 100, indicating that recent media coverage is somewhat unlikely to have an impact on the stock's share price in the next several days.
Who are Saratoga Investment's major shareholders?
Saratoga Investment's stock is owned by a number of of institutional and retail investors. Top institutional investors include Black Diamond Capital Management L.L.C. (11.64%), Ladenburg Thalmann Financial Services Inc. (1.42%), Legal & General Group Plc (0.34%), Wells Fargo & Company MN (0.26%), Millennium Management LLC (0.17%) and Stratos Wealth Partners LTD. (0.12%). View Institutional Ownership Trends for Saratoga Investment.
Which institutional investors are selling Saratoga Investment stock?
Which institutional investors are buying Saratoga Investment stock?
SAR stock was purchased by a variety of institutional investors in the last quarter, including Black Diamond Capital Management L.L.C., Stratos Wealth Partners LTD., Legal & General Group Plc, Wells Fargo & Company MN and Ladenburg Thalmann Financial Services Inc.. View Insider Buying and Selling for Saratoga Investment.
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 $23.93.
How big of a company is Saratoga Investment?
Saratoga Investment has a market capitalization of $152.60 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 (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.
