Saratoga Investment (NYSE:SAR) Releases Earnings Results, Beats Estimates By $0.08 EPS

Saratoga Investment (NYSE:SAR) issued its earnings results on Wednesday. The financial services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.82 by $0.08, Zacks reports. Saratoga Investment had a net margin of 13.64% and a return on equity of 15.88%.

Saratoga Investment Stock Performance

Shares of Saratoga Investment stock traded up $0.26 during midday trading on Wednesday, hitting $24.47. The company had a trading volume of 80,999 shares, compared to its average volume of 49,572. The company has a fifty day simple moving average of $24.44 and a 200 day simple moving average of $23.66. The stock has a market cap of $337.71 million, a price-to-earnings ratio of 15.99 and a beta of 1.33. The company has a quick ratio of 0.22, a current ratio of 0.22 and a debt-to-equity ratio of 0.14. Saratoga Investment has a 12-month low of $21.56 and a 12-month high of $26.49.

Saratoga Investment Dividend Announcement

The firm also recently declared a None dividend, which was paid on Thursday, December 19th. Stockholders of record on Wednesday, December 4th were paid a dividend of $1.09 per share. The ex-dividend date of this dividend was Wednesday, December 4th. This represents a dividend yield of 11.9%. Saratoga Investment’s payout ratio is 193.46%.

Analyst Upgrades and Downgrades

SAR has been the subject of several research analyst reports. B. Riley reiterated a “neutral” rating and set a $25.00 target price on shares of Saratoga Investment in a research report on Thursday, October 10th. Compass Point lifted their price objective on shares of Saratoga Investment from $24.75 to $26.25 and gave the company a “buy” rating in a research report on Friday, October 11th. Oppenheimer upped their target price on shares of Saratoga Investment from $23.00 to $25.00 and gave the stock a “market perform” rating in a research report on Thursday, October 10th. Finally, LADENBURG THALM/SH SH downgraded shares of Saratoga Investment from a “buy” rating to a “neutral” rating in a report on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, Saratoga Investment presently has an average rating of “Hold” and a consensus target price of $25.42.

Saratoga Investment Company Profile

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.