About Saratoga Investment (NYSE:SAR)
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 Ratio0.01%
Current Ratio0.06%
Quick Ratio0.06%
Price-To-Earnings
Trailing P/E Ratio12.11
Forward P/E Ratio9.59
P/E GrowthN/A
Sales & Book Value
Annual Sales$33.16 million
Price / Sales3.84
Cash Flow$2.0969 per share
Price / Cash9.70
Book Value$21.97 per share
Price / Book0.93
Profitability
EPS (Most Recent Fiscal Year)$1.68
Net Income$11.38 million
Net Margins36.37%
Return on Equity8.76%
Return on Assets3.33%
Miscellaneous
EmployeesN/A
Outstanding Shares6,260,000
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 Tuesday, February 27th. Shareholders of record on Wednesday, March 14th will be given a dividend of $0.50 per share on Monday, March 26th. This represents a $2.00 annualized dividend and a dividend yield of 9.83%. The ex-dividend date is Tuesday, March 13th. This is an increase from Saratoga Investment's previous quarterly dividend of $0.49. View Saratoga Investment's Dividend History.
How will Saratoga Investment's stock buyback program work?
Saratoga Investment announced that its board has approved a stock buyback program on Wednesday, October 12th 2016, which authorizes the company to repurchase 600,000 shares, according to EventVestor. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often 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) released its quarterly earnings data on Wednesday, July, 13th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by $0.05. The financial services provider had revenue of $7.91 million for the quarter. Saratoga Investment had a net margin of 36.37% and a return on equity of 8.76%. 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 12-month price objectives for Saratoga Investment's shares. Their forecasts range from $23.50 to $24.00. On average, they expect Saratoga Investment's share 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. " (3/15/2018)
- 2. National Securities analysts commented, "• For fiscal 3Q18, Saratoga posted adjusted NII/share of $0.54, exceeding consensus by a penny and our own estimate of $0.51. Our GAAP NII/share estimate was $0.51 versus Saratoga’s $0.50 for the quarter. Notably, PIK (payment-in-kind) income jumped to $1.0 million from $345,301 the quarter prior. This was the first full quarter of Saratoga receiving PIK from its 2nd lien debt investment in Easy Ice but this should decline next quarter as a result of realizations of other investments with PIK components.
• The company’s total reported weighted average current yield was down only 10 bps Q/Q to 11.3%, with much of the loan yield stability likely attributable to further increases in LIBOR and assisting in offsetting the spread compression. Management noted that the LMM is experiencing pricing pressure and competition as significant amounts of capital continue to chase deals. We did find it odd, however, that the structured credit book saw current yields increase 60 bps Q/Q to 19.4% despite a very challenging reinvestment environment for CLO equity.
• The current quarterly dividend of $0.49/share will likely be increased to $0.50/share for the quarter ending 2/28/18 and we expect a penny increase in both fiscal 1Q19 and 2Q19 before we expect the dividend to remain stable at $0.52/share.
• TM Restaurant Group remains the sole non-accrual for Saratoga with a total cost of $9.8 million or 2.9% of the portfolio, consistent with prior quarter levels. As a result of the continued sound asset quality at SAR, NAV/share improved on the quarter to $22.58 from $22.37.
• We are revising our fiscal 2018 adjusted NII/share estimate to $2.19 from $2.15 and our 2019 adjusted NII/share estimate to $2.16 from $2.07." (1/12/2018)
Who are some of Saratoga Investment's key competitors?
Some companies that are related to Saratoga Investment include Fidus Investment (FDUS), Monroe Capital (MRCC), Value Line (VALU), Silvercrest Asset Management Group (SAMG), Hennessy Advisors (HNNA), StoneCastle Financial (BANX), Gp Zgp (ZAIS), Great Elm Capital (GECC), Alcentra Capital (ABDC), Fifth Street Asset Management (FSAM), Manning & Napier Fund (MN), U.S. Global Investors (GROW), Medley Management (MDLY), BKF Capital Group (BKFG) and Wright Invs Svc Hl (WISH).
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)
- Mr. Joseph Burkhart, Managing Director of Bus. Devel.
- Mr. David Vavrichek, Principal and Portfolio Mang.
Has Saratoga Investment been receiving favorable news coverage?
News stories about SAR stock have been trending somewhat positive recently, according to Accern Sentiment Analysis. The research group identifies positive and negative press coverage by analyzing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Saratoga Investment earned a coverage optimism score of 0.12 on Accern's scale. They also assigned media stories about the financial services provider an impact score of 47.61 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company's share price in the near term.
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 $20.34.
How big of a company is Saratoga Investment?
Saratoga Investment has a market capitalization of $127.21 million and generates $33.16 million in revenue each year. The financial services provider earns $11.38 million in net income (profit) each year or $1.68 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.
Saratoga Investment (NYSE:SAR) 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.
6 Wall Street analysts have issued ratings and price targets for Saratoga Investment in the last 12 months. Their average twelve-month price target is $23.8333, suggesting that the stock has a possible upside of 17.17%. The high price target for SAR is $24.00 and the low price target for SAR is $23.50. There are currently 2 hold ratings and 4 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 | Buy | Buy | Buy |
| Consensus Rating Score: | 2.67 | 2.60 | 2.60 | 2.60 |
| Ratings Breakdown: | 0 Sell Rating(s)
2 Hold Rating(s)
4 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
2 Hold Rating(s)
3 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
2 Hold Rating(s)
3 Buy Rating(s)
0 Strong Buy Rating(s) | 0 Sell Rating(s)
2 Hold Rating(s)
3 Buy Rating(s)
0 Strong Buy Rating(s) |
| Consensus Price Target: | $23.8333 | $24.00 | $24.00 | $23.50 |
| Price Target Upside: | 17.17% upside | 7.67% upside | 7.67% upside | 6.33% upside |
Saratoga Investment (NYSE:SAR) Consensus Price Target History
Saratoga Investment (NYSE:SAR) Analyst Ratings History
Show:
(Data available from 4/25/2016 forward)
Saratoga Investment (NYSE:SAR) Dividend Information
Saratoga Investment pays an annual dividend of $2.00 per share, with a dividend yield of 9.83%. SAR's most recent quarterly dividend payment was Monday, March 26. The company has grown its dividend for the last 2 consecutive years and is increasing its dividend by an average of 135.50% each year. Saratoga Investment pays out 119.05% of its earnings out as a dividend.
| Most Recent Dividend: | 3/26/2018 |
| Annual Dividend: | $2.00 |
| Dividend Yield: | 9.83% |
| Dividend Growth: | 135.50% (3 Year Average) |
| Payout Ratio: | 119.05% (Trailing 12 Months of Earnings)
94.34% (Based on This Year's Estimates)
93.02% (Based on Next Year's Estimates)
|
| Track Record: | 2 Years of Consecutive Dividend Growth |
| Frequency: | Quarterly Dividend |
Saratoga Investment (NYSE:SAR) Dividend History by Quarter
| Announced | Period | Amount | Yield | Ex-Dividend Date | Record Date | Payable Date |
|---|
| 2/27/2018 | quarterly | $0.50 | 9.26% | 3/13/2018 | 3/14/2018 | 3/26/2018 |
| 11/29/2017 | Quarterly | $0.49 | 8.79% | 12/14/2017 | 12/15/2017 | 12/27/2017 |
| 8/28/2017 | quarterly | $0.48 | 9.03% | 9/14/2017 | 9/15/2017 | 9/26/2017 |
| 5/30/2017 | Quarterly | $0.47 | 8.5% | 6/13/2017 | 6/15/2017 | 6/27/2017 |
| 2/28/2017 | quarterly | $0.46 | 8.09% | 3/13/2017 | 3/15/2017 | 3/28/2017 |
| 1/12/2017 | quarterly | $0.45 | 8.78% | 1/27/2017 | 1/31/2017 | 2/9/2017 |
| 10/12/2016 | Quarterly | $0.44 | 9.66% | 10/27/2016 | 10/31/2016 | 11/9/2016 |
| 8/9/2016 | special | $0.20 | 9.84% | 8/22/2016 | 8/24/2016 | 9/5/2016 |
| 7/14/2016 | quarterly | $0.43 | 10% | 7/27/2016 | 7/29/2016 | 8/9/2016 |
| 4/1/2016 | quarterly | $0.41 | 10.25% | 4/13/2016 | 4/15/2016 | 4/27/2016 |
| 1/14/2016 | quarterly | $0.40 | 10.88% | 1/28/2016 | 2/1/2016 | 2/29/2016 |
| 10/15/2015 | quarterly | $0.36 | 8.85% | 10/29/2015 | 11/2/2015 | 11/30/2015 |
| 7/15/2015 | quarterly | $0.33 | 7.72% | 7/30/2015 | 8/3/2015 | 8/31/2015 |
| 5/14/2015 | special | $1.00 | 6.11% | 5/21/2015 | 5/26/2015 | 6/5/2015 |
| 4/9/2015 | quarterly | $0.27 | 6.67% | 4/30/2015 | 5/4/2015 | 5/29/2015 |
| 9/24/2014 | quarterly | $0.22 | 5.45% | 1/29/2015 | 2/2/2015 | 2/27/2015 |
| 9/24/2014 | quarterly | $0.18 | 5.45% | 10/30/2014 | 11/3/2014 | 11/28/2014 |
| 3/4/2013 | quarterly | $0.35 | 2.38% | 3/13/2013 | 3/15/2013 | 3/29/2013 |
(Data available from 1/1/2013 forward)
Saratoga Investment (NYSE SAR) News Headlines
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Saratoga Investment (NYSE:SAR) SEC Filings
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Saratoga Investment (NYSE:SAR) Income Statement, Balance Sheet and Cash Flow Statement
Saratoga Investment (NYSE SAR) Stock Chart for Wednesday, April, 25, 2018
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