Saratoga Investment (NYSE:SAR) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Saratoga Investment (NYSE:SAR) posted its quarterly earnings data on Tuesday. The financial services provider reported $0.46 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.03), FiscalAI reports. The company had revenue of $31.17 million during the quarter, compared to the consensus estimate of $31.46 million. Saratoga Investment had a return on equity of 8.76% and a net margin of 12.70%.

Saratoga Investment Price Performance

Shares of SAR stock traded down $0.81 on Tuesday, reaching $15.79. The company’s stock had a trading volume of 369,203 shares, compared to its average volume of 134,992. The stock’s fifty day simple moving average is $18.18 and its 200-day simple moving average is $20.52. Saratoga Investment has a 1 year low of $15.69 and a 1 year high of $24.09. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 0.18. The company has a market capitalization of $254.00 million, a price-to-earnings ratio of 15.79 and a beta of 0.57.

Saratoga Investment Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 22nd. Stockholders of record on Thursday, December 3rd will be given a dividend of $0.25 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 19.0%. The ex-dividend date is Thursday, December 3rd. Saratoga Investment’s dividend payout ratio is currently 300.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SAR shares. B. Riley Financial decreased their target price on shares of Saratoga Investment from $23.00 to $22.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Zacks Research upgraded shares of Saratoga Investment from a “strong sell” rating to a “hold” rating in a research report on Monday, September 7th. Oppenheimer dropped their target price on shares of Saratoga Investment from $22.00 to $21.00 and set a “market perform” rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings cut Saratoga Investment from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, July 8th. Six investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Saratoga Investment has an average rating of “Hold” and an average price target of $21.50.

Saratoga Investment Company Profile

Saratoga Investment Corporation (NYSE:SAR) is a business development company that provides financing to lower middle-market companies in the United States. The company seeks to support businesses that may have limited access to traditional bank financing, working with private equity sponsors, management teams and other financial partners.

Through its investment portfolio, Saratoga Investment typically provides senior secured and subordinated debt, including first-lien, unitranche and second-lien loans, as well as mezzanine financing and equity investments.