Oppenheimer Analysts Boost Earnings Estimates for Saratoga Investment Corp. (NYSE:SAR)

Saratoga Investment Corp. (NYSE:SARGet Rating) – Investment analysts at Oppenheimer boosted their Q4 2023 earnings estimates for shares of Saratoga Investment in a report issued on Wednesday, January 11th. Oppenheimer analyst M. Penn now forecasts that the financial services provider will earn $0.68 per share for the quarter, up from their prior estimate of $0.63. The consensus estimate for Saratoga Investment’s current full-year earnings is $2.58 per share. Oppenheimer also issued estimates for Saratoga Investment’s Q1 2024 earnings at $0.68 EPS, Q2 2024 earnings at $0.68 EPS, Q3 2024 earnings at $0.68 EPS, Q4 2024 earnings at $0.68 EPS and FY2024 earnings at $2.72 EPS.

SAR has been the topic of several other reports. Hovde Group reduced their target price on Saratoga Investment to $25.00 in a report on Wednesday, October 5th. StockNews.com raised Saratoga Investment from a “sell” rating to a “hold” rating in a report on Tuesday. Raymond James cut their price objective on Saratoga Investment from $28.50 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, October 6th. Finally, B. Riley lifted their price objective on Saratoga Investment from $27.50 to $28.50 and gave the company a “buy” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $27.63.

Saratoga Investment Price Performance

NYSE:SAR opened at $27.05 on Friday. The company has a current ratio of 0.03, a quick ratio of 0.03 and a debt-to-equity ratio of 0.07. The firm has a fifty day simple moving average of $25.70 and a 200 day simple moving average of $24.18. Saratoga Investment has a 1-year low of $20.16 and a 1-year high of $28.44. The stock has a market capitalization of $321.65 million, a PE ratio of 19.46 and a beta of 1.33.

Saratoga Investment Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 4th. Shareholders of record on Thursday, December 15th were paid a $0.68 dividend. This is an increase from Saratoga Investment’s previous quarterly dividend of $0.54. The ex-dividend date was Wednesday, December 14th. This represents a $2.72 annualized dividend and a dividend yield of 10.06%. Saratoga Investment’s payout ratio is 195.68%.

Institutional Investors Weigh In On Saratoga Investment

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fairfield Bush & CO. acquired a new stake in Saratoga Investment during the first quarter worth approximately $27,000. Raymond James & Associates increased its stake in Saratoga Investment by 9.4% during the 1st quarter. Raymond James & Associates now owns 81,686 shares of the financial services provider’s stock worth $2,227,000 after buying an additional 7,043 shares during the period. Cambridge Investment Research Advisors Inc. purchased a new stake in Saratoga Investment during the 1st quarter worth $239,000. Lazard Asset Management LLC acquired a new position in Saratoga Investment during the 1st quarter worth $38,000. Finally, Northern Trust Corp grew its holdings in Saratoga Investment by 11.0% during the 1st quarter. Northern Trust Corp now owns 13,876 shares of the financial services provider’s stock worth $378,000 after acquiring an additional 1,378 shares in the last quarter. 19.45% of the stock is owned by hedge funds and other institutional investors.

About Saratoga Investment

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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.

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Earnings History and Estimates for Saratoga Investment (NYSE:SAR)

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