Saratoga Investment (NYSE:SAR) Announces Quarterly Earnings Results, Misses Expectations 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. Saratoga Investment had a return on equity of 8.76% and a net margin of 12.70%.The business had revenue of $31.17 million for the quarter, compared to the consensus estimate of $31.46 million.

Saratoga Investment Stock Down 4.9%

Shares of NYSE:SAR traded down $0.81 during trading on Tuesday, reaching $15.79. 369,183 shares of the stock traded hands, compared to its average volume of 134,616. The stock has a 50-day moving average of $18.18 and a two-hundred day moving average of $20.52. Saratoga Investment has a 52-week low of $15.69 and a 52-week high of $24.09. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.09 and a current ratio of 0.09. The stock has a market cap of $254.00 million, a P/E ratio of 15.79 and a beta of 0.57.

Saratoga Investment Announces Dividend

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 paid a $0.25 dividend. This represents a $3.00 annualized dividend 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%.

Wall Street Analysts Forecast Growth

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

About Saratoga Investment

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.