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 Ratio10.18
Forward P/E Ratio10.26
P/E GrowthN/A
Sales & Book Value
Annual Sales$38.62 million
Price / Sales4.51
Cash Flow$2.2999 per share
Price / Cash10.17
Book Value$22.97 per share
Price / Book1.02
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 Shares7,450,000
Market Cap$177.33 million
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, August 29th. Investors of record on Monday, September 17th will be paid a dividend of $0.52 per share on Thursday, September 27th. This represents a $2.08 dividend on an annualized basis and a yield of 8.89%. The ex-dividend date of this dividend is Friday, September 14th. This is a positive change from Saratoga Investment's previous quarterly dividend of $0.51. View Saratoga Investment's Dividend History.
How will Saratoga Investment's stock buyback program work?
Saratoga Investment announced that its Board of Directors has approved a stock buyback program on Wednesday, October 12th 2016, which authorizes the company to buyback 600,000 shares, according to EventVestor. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its shares are undervalued.
How were Saratoga Investment's earnings last quarter?
Saratoga Investment Corp (NYSE:SAR) released its quarterly earnings results on Wednesday, July, 11th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.06. The financial services provider earned $10.49 million during the quarter, compared to analysts' expectations of $9.79 million. Saratoga Investment had a net margin of 50.76% and a return on equity of 10.52%. View Saratoga Investment's Earnings History.
When is Saratoga Investment's next earnings date?
What price target have analysts set for SAR?
6 analysts have issued 1 year price objectives for Saratoga Investment's shares. Their predictions range from $23.50 to $24.00. On average, they expect Saratoga Investment's stock price to reach $23.8333 in the next year. This suggests a possible upside of 1.9% from the stock's current price. View Analyst Price Targets for Saratoga Investment.
What is the consensus analysts' recommendation for Saratoga Investment?
6 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Saratoga Investment in the last year. There are currently 3 hold ratings 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. " (9/13/2018)
- 2. National Securities analysts commented, " Saratoga issued $35.0 million of seven-year notes with a 6.25% coupon. The overallotment option for the underwriters is 15% of the base deal, which we expect to be taken down in full given the continued demand for yield by market participants combined with the general safety of RIC debt.
The offering wasn’t a total surprise as on the fiscal 1Q19 earnings call management noted that they were in a good position to issue another baby bond. However, with an unused credit facility, we were surprised the offering came when it did.
We would have expected the offering to come with a higher revolver balance where the proceeds from the notes could simply be used to pay-down the revolver, thus ensuring there would be less of a temporary drag on earnings.
Reading between the lines, we think management likely believes spreads will widen from here (a sentiment we certainly agree with) and that it would benefit them to lock in unsecured notes for seven years at an attractive coupon.
We expect that prepayment activity during fiscal 2Q19 will be muted and thus lead to lower fee income and acceleration of unamortized OID. Additionally, we think the company will not be able to deploy all of the capital prior to the close of the quarter (recall there was an equity offering as well) and there is not a revolver balance to pay-down. We think that these factors mean earnings will be a bit lighter in fiscal 2Q19.
We are revising our fiscal 2019 adjusted NII/share estimate to $2.27 from $2.29 and our fiscal 2020 adjusted NII/share estimate to $2.24 from $2.20 and maintaining our NEUTRAL rating and $24 price target." (8/23/2018)
Who are some of Saratoga Investment's key competitors?
Some companies that are related to Saratoga Investment include Pzena Investment Management (PZN), Victory Capital (VCTR), Diamond Hill Investment Group (DHIL), Triangle Capital (TCAP), Triangle Capital (BBDC), Westwood Holdings Group (WHG), Fidus Investment (FDUS), Monroe Capital (MRCC), Value Line (VALU), Silvercrest Asset Management Group (SAMG), STONECASTLE Fin/COM (BANX), Gp Zgp (ZAIS), Hennessy Advisors (HNNA), Great Elm Capital (GECC) and ALCENTRA Cap Co/SH (ABDC).
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?
News coverage about SAR stock has been trending somewhat positive recently, according to Accern Sentiment. The research firm identifies positive and negative press coverage by reviewing more than twenty million blog and news sources in real time. Accern ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Saratoga Investment earned a media and rumor sentiment score of 0.18 on Accern's scale. They also assigned news stories about the financial services provider an impact score of 46.57 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock's share price in the near future. View Recent Headlines for Saratoga Investment.
Who are Saratoga Investment's major shareholders?
Saratoga Investment's stock is owned by many different of retail and institutional investors. Top institutional investors include Mckinley Capital Management LLC Delaware (0.55%), Weber Alan W (0.23%), Belpointe Asset Management LLC (0.21%), Ahrens Investment Partners LLC (0.11%) and Macquarie Group Ltd. (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 selling Saratoga Investment stock?
Which major 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 $23.39.
How big of a company is Saratoga Investment?
Saratoga Investment has a market capitalization of $177.33 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.
