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
Current SymbolNYSE:SAR
Previous SymbolNYSE:SHS
CUSIPN/A
Phone212-906-7800
Debt
Debt-to-Equity RatioN/A
Current Ratio0.18
Quick Ratio0.18
Price-To-Earnings
Trailing P/E Ratio9.01
Forward P/E Ratio8.29
P/E GrowthN/A
Sales & Book Value
Annual Sales$38.62 million
Price / Sales3.95
Cash Flow$2.1656 per share
Price / Cash Flow9.42
Book Value$22.97 per share
Price / Book0.89
Profitability
EPS (Most Recent Fiscal Year)$2.27
Net Income$17.67 million
Net Margins40.39%
Return on Equity10.55%
Return on Assets4.18%
Miscellaneous
EmployeesN/A
Outstanding Shares7,480,000
Market Cap$164.85 million
OptionableNot Optionable
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 Tuesday, November 27th. Shareholders of record on Monday, December 17th will be paid a dividend of $0.53 per share on Wednesday, January 2nd. This represents a $2.12 dividend on an annualized basis and a yield of 10.39%. The ex-dividend date is Friday, December 14th. This is a boost from Saratoga Investment's previous quarterly dividend of $0.52. View Saratoga Investment's Dividend History.
How were Saratoga Investment's earnings last quarter?
Saratoga Investment Corp (NYSE:SAR) released its earnings results on Thursday, October, 11th. The financial services provider reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of $0.54 by $0.09. The financial services provider earned $11.40 million during the quarter, compared to analyst estimates of $10.18 million. Saratoga Investment had a net margin of 40.39% and a return on equity of 10.55%. View Saratoga Investment's Earnings History.
When is Saratoga Investment's next earnings date?
What price target have analysts set for SAR?
4 analysts have issued 12-month target prices 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 $23.75 in the next twelve months. This suggests a possible upside of 16.4% from the stock's current price. View Analyst Price Targets for Saratoga Investment.
What is the consensus analysts' recommendation for Saratoga Investment?
4 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Saratoga Investment in the last year. There are currently 1 hold rating and 3 buy ratings for the stock, resulting in a consensus recommendation of "Buy." 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. " (12/13/2018)
- 2. National Securities analysts commented, " Saratoga posted adjusted NII/share of $0.69 for fiscal 2Q19, significantly above our estimate of $0.51 and consensus estimates of $0.54. The company recognizes 100 bps of the traditional 200 bps origination fees up-front, which is primarily why “other income” increased to $566K from $280K Q/Q.
Originations for the quarter totaled $51.7 million contrasted with $35.2 million although sales and redemptions also slowed materially to a mere $1.0 million from $36.5 million over the same time period. Thus, the boost in investment income was almost entirely associated with the half-recognition of origination fees rather than any prepayment fees and acceleration of unamortized OID (original issue discount).
Management noted that the majority of the cash at 8/31/18 had been deployed in the last six weeks into new originations and the company continues to expand its loan book with eight new portfolio companies over the last four months.
The company has a $10.0 million CLO warehouse with the reinvestment period for its current CLO ending next month. We expect the CLO to be upsized in the 2/28/18 quarter and for the reset to favorably reduce the cost of liabilities by about 100 bps on a weighted average basis, which would augment CLO equity effective yield and thus total yield from control investments.
We are revising our fiscal 2019 adjusted NII/share estimate to $2.60 from $2.27 and our fiscal 2020 adjusted NII/share estimate to $2.43 from $2.24 and maintaining our NEUTRAL rating and $24 price target." (10/15/2018)
Has Saratoga Investment been receiving favorable news coverage?
Media stories about SAR stock have been trending somewhat positive recently, InfoTrie Sentiment reports. The research group identifies positive and negative news coverage by analyzing more than six thousand news and blog sources. The firm ranks coverage of public companies on a scale of negative five to five, with scores closest to five being the most favorable. Saratoga Investment earned a news impact score of 1.9 on InfoTrie's scale. They also gave press coverage about the financial services provider a news buzz of 1.0 out of 10, indicating that recent news coverage is extremely unlikely to have an impact on the company's share price in the near term.
Who are some of Saratoga Investment's key competitors?
Some companies that are related to Saratoga Investment include Och-Ziff Capital Management Group (OZM), Virtus Investment Partners (VRTS), Diamond Hill Investment Group (DHIL), Barings BDC (BBDC), Westwood Holdings Group (WHG), Fidus Investment (FDUS), Value Line (VALU), Monroe Capital (MRCC), Silvercrest Asset Management Group (SAMG), StoneCastle Financial (BANX), Alcentra Capital (ABDC), Hennessy Advisors (HNNA), Great Elm Capital (GECC), Fifth Street Asset Management (FSAM) and Manning and Napier (MN).
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)
- Mr. Adam Prior, Sr. VP
- Mr. Joseph Burkhart, Managing Director of Bus. Devel.
Who are Saratoga Investment's major shareholders?
Saratoga Investment's stock is owned by a number of of retail and institutional investors. Top institutional shareholders include Wells Fargo & Company MN (0.42%), Ahrens Investment Partners LLC (0.15%), Dynamic Technology Lab Private Ltd (0.12%) and Valeo Financial Advisors LLC (0.08%). Company insiders that own Saratoga Investment stock include Christian L Oberbeck and Elizabeth Oberbeck. View Institutional Ownership Trends for Saratoga Investment.
Which major investors are buying Saratoga Investment stock?
SAR stock was purchased by a variety of institutional investors in the last quarter, including Wells Fargo & Company MN, Dynamic Technology Lab Private Ltd, Valeo Financial Advisors LLC and Ahrens Investment Partners LLC. 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 $20.40.
How big of a company is Saratoga Investment?
Saratoga Investment has a market capitalization of $164.85 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.
What is Saratoga Investment's official website?
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.
