Garrison Capital Inc (NASDAQ:GARS) – Investment analysts at William Blair reduced their Q2 2019 earnings per share (EPS) estimates for shares of Garrison Capital in a report released on Tuesday, May 14th. William Blair analyst B. Hogan now forecasts that the investment management company will earn $0.22 per share for the quarter, down from their previous forecast of $0.23. William Blair also issued estimates for Garrison Capital’s Q3 2019 earnings at $0.22 EPS, Q4 2019 earnings at $0.22 EPS, FY2019 earnings at $0.87 EPS, Q1 2020 earnings at $0.22 EPS, Q2 2020 earnings at $0.22 EPS, Q3 2020 earnings at $0.22 EPS, Q4 2020 earnings at $0.22 EPS, FY2020 earnings at $0.90 EPS and FY2021 earnings at $0.90 EPS.
GARS has been the topic of a number of other research reports. National Securities reduced their target price on Garrison Capital from $11.00 to $10.00 and set a “buy” rating on the stock in a research report on Monday, March 11th. ValuEngine downgraded Garrison Capital from a “sell” rating to a “strong sell” rating in a report on Monday, April 1st. TheStreet downgraded Garrison Capital from a “c” rating to a “d+” rating in a report on Monday, April 22nd. Finally, Zacks Investment Research downgraded Garrison Capital from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Three equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.33.
NASDAQ:GARS opened at $6.95 on Thursday. Garrison Capital has a 52 week low of $6.03 and a 52 week high of $8.95. The company has a current ratio of 3.83, a quick ratio of 3.83 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $111.71 million, a price-to-earnings ratio of 6.88 and a beta of 0.65.
Garrison Capital (NASDAQ:GARS) last posted its earnings results on Tuesday, May 7th. The investment management company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.21 by ($0.01). Garrison Capital had a negative net margin of 3.06% and a positive return on equity of 8.29%. The business had revenue of $10.23 million during the quarter, compared to analysts’ expectations of $10.75 million.
A number of large investors have recently made changes to their positions in GARS. Squarepoint Ops LLC purchased a new position in Garrison Capital in the fourth quarter valued at about $76,000. National Asset Management Inc. grew its stake in shares of Garrison Capital by 24.8% during the fourth quarter. National Asset Management Inc. now owns 18,603 shares of the investment management company’s stock valued at $120,000 after acquiring an additional 3,700 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Garrison Capital by 102.6% during the first quarter. Wells Fargo & Company MN now owns 20,799 shares of the investment management company’s stock valued at $150,000 after acquiring an additional 10,534 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Garrison Capital by 18.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 24,526 shares of the investment management company’s stock valued at $158,000 after acquiring an additional 3,901 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Garrison Capital by 68.1% during the first quarter. JPMorgan Chase & Co. now owns 23,675 shares of the investment management company’s stock valued at $170,000 after acquiring an additional 9,587 shares in the last quarter. Hedge funds and other institutional investors own 26.93% of the company’s stock.
In related news, Director Matthew Joseph Westwood bought 5,000 shares of the stock in a transaction on Monday, March 11th. The shares were purchased at an average price of $7.49 per share, for a total transaction of $37,450.00. Following the acquisition, the director now owns 20,800 shares in the company, valued at $155,792. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Joseph Bertrand Tansey bought 23,716 shares of the stock in a transaction on Wednesday, March 13th. The shares were bought at an average price of $7.46 per share, for a total transaction of $176,921.36. Following the acquisition, the chief executive officer now owns 136,412 shares in the company, valued at approximately $1,017,633.52. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 67,632 shares of company stock worth $504,202. Insiders own 6.40% of the company’s stock.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 21st. Stockholders of record on Friday, June 7th will be paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 13.24%. The ex-dividend date is Thursday, June 6th. Garrison Capital’s dividend payout ratio (DPR) is 91.09%.
About Garrison Capital
Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, one-stop senior secured or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.
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