Saratoga Investment Corp. (SAR) To Go Ex-Dividend on September 4th

Saratoga Investment Corp. (NYSE:SAR) announced a monthly dividend on Friday, June 13th, Wall Street Journal reports. Investors of record on Thursday, September 4th will be paid a dividend of 0.25 per share by the financial services provider on Wednesday, September 24th. This represents a $3.00 dividend on an annualized basis and a yield of 12.43%. The ex-dividend date of this dividend is Thursday, September 4th.

Saratoga Investment Price Performance

Shares of NYSE:SAR opened at $24.14 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.33 and a debt-to-equity ratio of 0.14. The company has a market cap of $370.91 million, a P/E ratio of 9.73 and a beta of 0.68. Saratoga Investment has a 52 week low of $21.10 and a 52 week high of $26.49. The company has a 50-day moving average price of $24.02 and a 200 day moving average price of $24.41.

Saratoga Investment (NYSE:SAR) last posted its quarterly earnings results on Wednesday, May 7th. The financial services provider reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.21). Saratoga Investment had a net margin of 22.01% and a return on equity of 15.53%. The company had revenue of $31.30 million for the quarter, compared to analyst estimates of $32.86 million. Research analysts predict that Saratoga Investment will post 3.93 earnings per share for the current year.

Hedge Funds Weigh In On Saratoga Investment

A hedge fund recently raised its stake in Saratoga Investment stock. Royal Bank of Canada grew its stake in Saratoga Investment Corp. (NYSE:SAR) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,476 shares of the financial services provider’s stock after purchasing an additional 1,018 shares during the quarter. Royal Bank of Canada owned approximately 0.15% of Saratoga Investment worth $595,000 as of its most recent filing with the SEC. 19.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SAR. B. Riley began coverage on shares of Saratoga Investment in a research note on Tuesday, May 13th. They set a “neutral” rating and a $23.50 price objective for the company. Wall Street Zen cut shares of Saratoga Investment from a “buy” rating to a “hold” rating in a research note on Tuesday, April 1st. Finally, Compass Point cut shares of Saratoga Investment from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $25.25 to $24.25 in a research note on Monday, June 9th. Five research analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $24.25.

About Saratoga Investment

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.