Saratoga Investment Corp. (NYSE:SAR) Announces Quarterly Dividend of $0.74

Saratoga Investment Corp. (NYSE:SAR) declared a quarterly dividend on Thursday, August 22nd, Zacks reports. Stockholders of record on Wednesday, September 11th will be given a dividend of 0.74 per share by the financial services provider on Thursday, September 26th. This represents a $2.96 dividend on an annualized basis and a dividend yield of 12.23%. The ex-dividend date of this dividend is Wednesday, September 11th.

Saratoga Investment Price Performance

SAR opened at $24.21 on Tuesday. Saratoga Investment has a twelve month low of $21.56 and a twelve month high of $27.00. The firm has a market cap of $332.89 million, a price-to-earnings ratio of 20.01 and a beta of 1.32. The company has a current ratio of 0.07, a quick ratio of 0.07 and a debt-to-equity ratio of 0.09. The company has a fifty day simple moving average of $23.04 and a 200 day simple moving average of $23.20.

Saratoga Investment (NYSE:SAR) last announced its earnings results on Tuesday, July 9th. The financial services provider reported $1.05 earnings per share for the quarter, beating the consensus estimate of $0.97 by $0.08. Saratoga Investment had a return on equity of 14.67% and a net margin of 10.66%. The company had revenue of $38.68 million during the quarter, compared to the consensus estimate of $36.52 million. Equities research analysts expect that Saratoga Investment will post 3.6 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SAR has been the topic of several analyst reports. StockNews.com upgraded Saratoga Investment from a “sell” rating to a “hold” rating in a report on Wednesday, May 15th. Compass Point upgraded shares of Saratoga Investment from a “neutral” rating to a “buy” rating and set a $24.75 price target for the company in a research note on Thursday, July 11th. Finally, B. Riley reiterated a “neutral” rating and set a $25.00 price objective on shares of Saratoga Investment in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $24.94.

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.