SAR - Saratoga Investment Corp.

NYSE - Nasdaq Real Time Price. Currency in USD
15.20
+0.02 (+0.13%)
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Commodity Channel Index

Commodity Channel Index

Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close15.18
Open15.18
Bid15.00 x 1100
Ask16.27 x 900
Day's Range14.96 - 15.72
52 Week Range5.94 - 28.70
Volume75,576
Avg. Volume150,133
Market Cap170.506M
Beta (5Y Monthly)1.69
PE Ratio (TTM)2.54
EPS (TTM)5.98
Earnings DateMay 07, 2020
Forward Dividend & Yield2.24 (14.29%)
Ex-Dividend DateJan 23, 2020
1y Target Est22.39
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
Fair Value
XX.XX
Undervalued
133% Est. Return
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  • Saratoga Investment Corp (SAR) Q4 2020 Earnings Call Transcript
    Motley Fool

    Saratoga Investment Corp (SAR) Q4 2020 Earnings Call Transcript

    SAR earnings call for the period ending March 31, 2020.

  • Thomson Reuters StreetEvents

    Edited Transcript of SAR earnings conference call or presentation 7-May-20 2:00pm GMT

    Q4 2020 Saratoga Investment Corp Earnings Call

  • GlobeNewswire

    Saratoga Investment Corp. Announces Fiscal Year-End and Fourth Quarter 2020 Financial Results

    NEW YORK, May 06, 2020 -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced financial results for.

  • Earnings Preview: Saratoga Investment (SAR) Q4 Earnings Expected to Decline
    Zacks

    Earnings Preview: Saratoga Investment (SAR) Q4 Earnings Expected to Decline

    Saratoga Investment (SAR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • 3 “Strong Buy” Dividend Stocks With Yields of at Least 10%
    TipRanks

    3 “Strong Buy” Dividend Stocks With Yields of at Least 10%

    April has seen steady growth on the S&P 500, as the index gained nearly 15%. It’s yet another sign that the stock market, at least, is recovering from the coronavirus-induced crash that began in February. The jury is still out on the economy as a whole; Q1 GDP was down by 4.8%, and unemployment insurance claims exploded to record levels in recent weeks.With such a clouded long-term forecast, and plenty of evidence for both the bulls and the bears, the smart play now is to buy into rising dividend stocks, shoring up the portfolio for whatever lies ahead. The advantage of such a fundamentally defensive strategy is obvious: stocks that are rising now will bring the immediate gains of share appreciation, while strong dividends will provide a steady income stream regardless of market conditions.We’ve used TipRanks database to seek out small-cap stocks with high dividends – that is, with yields exceeding 10%. To narrow it further, we looked only at stocks with ‘Strong Buy’ consensus ratings that offer upside potential of 35% or more.Great Ajax Corporation (AJX)We’ll start with a real estate investment trust, as this is a segment that typically offers high dividend yields. These companies, which exist to invest in, own, manage, and operate a range of commercial and residential real estate assets, are required by law to return a high percentage of their profits directly to shareholders – and they usually use dividends as the vehicle for the return. Great Ajax focuses primarily on the single-family residential niche, investing in mortgage loans and securities backed by the homes.Ajax had a rough time in the past couple of quarters. Q4 showed EPS of 31 cents, 24% below the forecasts, but also down 14% sequentially 9% year-over-year. Those numbers were recorded before the coronavirus epidemic forced the economic shutdown – and before millions of people were forced out of work, making it more difficult for them to meet and maintain mortgage payments. Looking ahead, the company is expected to show 34 cents EPS, above Q1’s number, but still down 5.5% yoy.Perhaps a more important number for investors is the dividend. AJX paid out 32 cents per share in March, its regular quarterly dividend, despite the low Q1 results. The company has a long history of keeping its dividend reliable, and the payment has been set at 32 cents for the past 5 quarters. The annualized payment, $1.28, gives a yield of 14.4%. This is more than 7x higher than the average dividend yield among S&P-listed stocks.After making the dividend payment, which exceeded available quarterly earnings, AJX completed an issuance of $80 million in private placement on common stock, a move undertaken to bring in new capital at affordable rates. The move also gives AJX flexibility in responding to market moves and economic conditions going forward.5-star analyst Kevin Barker, of Piper Sandler, likes AJX shares, as he sees the company with a sound foundation for operations. He writes of Great Ajax’ portfolio, “The vast majority of AJX's asset base consists of residential whole loans bought at a discount to par. These assets will see pressure on forward dividend yields due to an extended duration from forbearance programs and various other workouts, but the risk of a near-term impairment is low.”Barker puts a Buy rating on this stock, with a $13 price target that indicates 46% upside growth possible in the next 12 months. (To watch Barker’s track record, click here)Wall Street seems to agree with Barker’s analysis of AJX. The stock has 3 recent analyst reviews, and all are Buys – making the consensus rating a Strong Buy. Shares are selling for just $8.88, and the average price target of $12.50 implies a robust upside of 40%. (See Great Ajax stock analysis on TipRanks)Saratoga Investment Corporation (SAR)From REITs we move to investment management. Saratoga invests in mid-market private companies, generating its own income through interest on debt, capital appreciation, and equity investments. The company’s investment team manages a total $487 million in assets, and the current portfolio reaches a wide variety of sectors, including software companies, waste disposal, home security, and industry.In its most recent quarterly report, for fiscal Q3, SAR reported 61 cents in adjusted EPS, above the forecast of 59 cents, but down 6% yoy. Looking ahead to fiscal Q4, for the period ending in February and therefore including the initial stages of the coronavirus epidemic in the US, the company is expected to show 55 cents EPS – which would be a significant decline both sequentially and year-over-year.Despite recent falloffs in earnings, SAR has kept up its dividend payments. The current payment, at 56 cents, represents a 14% yield, which is strong enough to offset the stock’s share price depreciation in the recent bear slide. At 91%, the payout ratio indicates that SAR can afford the dividend at current income levels, and the company has sufficient liquidity, including $81.1 million in cash on hand, to keep up the payments. Saratoga has been raising its dividend steadily over the past three years.Compass Point analyst Casey Alexander notes an important, but obvious point, in his recent review of BDC stocks: “In what has become a complete business stoppage, assumption 1 is that no one gets out unscathed.”Applying that logic to Saratoga, Alexander wrote on April 2, “SAR dodged a potentially fatal bullet with the sale of Easy Ice, a provider of ice-making machines for hotels, restaurants and bars. Still, we understand that lower middle market borrowers are more vulnerable to business stoppages. Access to SARs untapped SBA debentures could be critical in offering additional capital to distressed portfolio companies, but the stresses from the current stoppage may be too much for some of them.”Even with that in mind, Alexander gave SAR shares a Buy rating. The stock was trading at $10.12 when he set a price target of $15, and it has since powered through that target. Look for this analyst to revisit his pricing on SAR in the near future. (To watch Alexander’s track record, click here)Overall, SAR shares rate a Strong Buy from the analyst consensus, and that view is unanimous – all three of the most recent reviews are Buy. Shares are selling for $15.92, and the average price target is more bullish than Alexander’s. At $21.67, it implies an upside to the stock of 36%. (See Saratoga stock analysis on TipRanks)Westlake Chemical PRN (WLKP)The Westlake Chemical Corporation, a major producer of olefins and vinyls, spun off its ethylene business in 2014, forming a master limited partnership called Westlake Chemical Partners. WLKP, the ethylene spin-ff, controls, ethylene production facilities Kentucky and Louisiana, with an annual capacity of approximately 3.7 billion pounds and a 200-mile ethylene pipeline.The parents company brings in over $8.6 billion in annual revenues; the ethylene Partnership reported $937.6 million in Q4 revenue, netting $61 million in quarterly income. The stock has proven resilient in recent weeks, and has regained almost $8.50 in value since dropping to just over $10 in the bear market crash of late February. That represents a gain of 79% since March 18.WKLP currently pays out a dividend of 47.25 cents quarterly, or $1.89 annualized. This gives a dividend yield of 10.2%, 5x times higher than the S&P average, and more than 10x higher than Treasury bonds. With the Fed’s move cutting interest rates far down to nearly zero, dividend yields are naturally going to provide the better returns.Westlake Chemical Partners has a strong position in its industry, as noted by Eduardo Seda, 4-star analyst with JonesTrading. Seda points out, “Under WLKP’s current 12-year ethylene sales agreement with its parent WLK (who is its largest customer as well), with a majority of WLKP’s revenues under this long-term fixed price contract structure, most of the ethylene production is insulated against frequent and often substantial commodity price fluctuations.”Ensured income is always good for a company, and Seda gives WKLP a Buy rating, along with a $29 price target implying a hefty 56% upside potential. (To watch Seda’s track record, click here)WKLP, like the stocks above, shows a unanimous Strong Buy consensus view based on 3 Buy ratings. The stock’s shares price is the highest on this list, at $18.53, and the $28 price target suggests room for 51% upside growth this year. (See WKLP stock analysis on TipRanks)

  • GlobeNewswire

    Saratoga Investment Corp. to Report Fiscal Fourth Quarter and Fiscal Year 2020 Financial Results and Hold Conference Call

    New York, April 16, 2020 -- Saratoga Investment Corp. (NYSE:SAR), a business development company, will report its financial results for the fiscal quarter and year ended.

  • The Gr. Sarantis (ATH:SAR) Share Price Has Gained 79% And Shareholders Are Hoping For More
    Simply Wall St.

    The Gr. Sarantis (ATH:SAR) Share Price Has Gained 79% And Shareholders Are Hoping For More

    It hasn't been the best quarter for Gr. Sarantis S.A. (ATH:SAR) shareholders, since the share price has fallen 22% in...

  • Reuters

    Lower middle market strategies flourish amid private credit boon

    Lending to companies with just a few million dollars in earnings is gaining greater interest from investors seeking higher yields and better protections as the private credit market grows increasingly segmented and sophisticated. Firms are looking to raise funds to target companies in the lower middle market, or companies with an Ebitda of less than US$15m, including Deerpath Capital Management, which wants to raise US$1bn for its lower middle market fund, and PineBridge Investments, which announced it has US$596m to invest. At the same time, Main Street Capital Corp said it is continuing to seek opportunities in this segment.

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  • 3 Mutual Fund Misfires to Avoid - February 27, 2020
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    Does your current advisor have your money invested in these "Mutual Fund Misfires of the Market" that charge high fees for low returns? If so, it may be time for a new advisor.

  • Why Gr. Sarantis S.A. (ATH:SAR) Looks Like A Quality Company
    Simply Wall St.

    Why Gr. Sarantis S.A. (ATH:SAR) Looks Like A Quality Company

    While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...

  • Here's Why I Think Gr. Sarantis (ATH:SAR) Might Deserve Your Attention Today
    Simply Wall St.

    Here's Why I Think Gr. Sarantis (ATH:SAR) Might Deserve Your Attention Today

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  • Saratoga Investment Enters Overbought Territory: Is A Drop Coming?
    Zacks

    Saratoga Investment Enters Overbought Territory: Is A Drop Coming?

    Saratoga Investment has moved higher as of late, but there could definitely be trouble on the horizon for this company.

  • 3 Buy-Rated Dividend Stocks Yielding 8% — Or More
    TipRanks

    3 Buy-Rated Dividend Stocks Yielding 8% — Or More

    When a stock goes up, that's good. We all like to "buy low" and "sell high." Problem is, that's not always the way things work out. Sometimes, you buy a stock low, and it fails to become high. In fact, sometimes it goes... lower!So how do profit when a stock stubbornly refuses to go up? How do you mitigate the damage of a stock that sinks instead of rising? How do you guarantee that you make a profit no matter what?One word: Dividends.Using TipRank's Stock Screener tool it's possible to identify and invest in stocks paying dividends rich enough to deliver something close to the stock market's promised "10% long-term average return" out of dividend income alone. And if, in an ideal situation, the stock both pays its dividend and goes up in stock price? Why then, you should be well ahead of the game. Here are three stocks offering such double-whammy profit potential.Saratoga Investment (SAR)Beginning at the top, Saratoga Investment is a corporation that makes investments (Surprise!). Specifically, it's a business development company that specializes in lending money and making equity investments to facilitate leveraged and management buyouts of smaller companies -- companies doing at least $2 million in annual earnings before interest, taxes, depreciation, and amortization (EBITDA).Last week, Saratoga Investment was brought to our attention by Maxim analyst Michael Diana, when he noted that two recent investment "exits" had provided enough liquidity to raise the company's net asset value by about 9% -- prompting a price target hike to $29 a share. Saratoga closed trading Friday at $26.74, so that's a target price about 8.5% above current market price. (To watch Diana's track record, click here)But as I've already implied, price target isn't the only attraction at Saratoga, which also pays a big dividend yield of 8.7%. That's more than 4x the going rate on the S&P 500, and as Diana points out, Saratoga grew its dividend payout for 20 consecutive quarters before taking a "pause" in fiscal Q3 2020. What's more, once Saratoga has had an opportunity to reinvest the cash raised from its recent exits, Diana anticipates we'll see further dividend hikes in this company's future -- perhaps as soon as fiscal 2021.This prospect appears to have attracted the attention of other analysts as well. In addition to Maxim, two other investment banks, B. Riley FBR and Compass Point, have issued buy ratings on the stock in the past week. With an average target price of $27.60, Wall Street seems in agreement that this stock is worth at least 3% more than it's selling for today, and with its dividend added in, should deliver a total expected return on the order of nearly 12% over the next year. (See Saratoga stock analysis at TipRanks)Ares Capital Corp (ARCC)A second company in the business development biz is Ares Capital Corporation, and like Saratoga, it's a generous dividend payer -- 8.6%. Un-like Saratoga, Ares Capital is a much larger fish, boasting a market capitalization of $7.9 billion, versus Saratoga's market cap of just $260 million.With much more capital to work with, Ares also fishes in deeper waters. A specialist in business acquisitions, recapitalizations, and restructurings, this company makes investments as large as $400 million at a time -- and in companies doing up to $250 million in EBITDA -- both through the extension of direct loans, and also by participating in syndicated loans (loans extended by a group of companies acting in concert, and spreading around both the risk and the profit).Earlier this month, Ares, too won an endorsement on Wall Street, when Wedbush analyst Henry Coffey bumped his its 12-month price target by 5% to $21 a share, implying 12.5% upside to the shares. (To watch Coffey's track record, click here)Whereas Maxim believes that Saratoga will resume raising its dividends next year, Coffey is optimistic that Ares will hike its dividend this year, and not by a little either, but from $0.40 to $0.47 per share -- a 17.5% increase.Incidentally, Coffey's price target is now the highest on Wall Street -- but others do share his sentiment. On average, analysts see about 10% upside to $20.50 for this stock, and the most recent rating prior to Coffey's was likewise a "buy" -- from RBC Capital analyst Kenneth Lee. (See Ares Capital stock analysis at TipRanks)Global Net Lease (GNL)Shifting gears a bit here at the end, our third and final 8%-plus payer of the day is not a business development company, but a real estate investment trust (REIT) instead.Focusing on the leasing of commercial office space (52% of assets), industrial and warehouse space (43%), and retail (5%0, Global Net Lease is a globe-spanning corporation with $1.8 billion in market cap, $300 million in revenue, and operations in seven different countries in Europe and North America. In line with the well-publicized struggles of brick-and-mortar retail in the U.S., Global Net Lease has been gradually reducing its exposure to this aspect of the market, in particular, divesting 32 Family Dollar locations in the final quarter of 2019.The company still does good business with the properties it's keeping, however, and indeed has 99.6% of the properties on its books leased and generating rental income.Speaking of which, Global Net Lease stands out on today's list as the only company that currently pays out more money in dividends than it makes in profit -- a point of some concern inasmuch as the company needs to earn profits if it's to maintain its generous 10.5% dividend yield. No to worry, though. In a note issued in November, B. Riley FBR analyst Bryan Maher assured investors that recent purchases of "12 net lease properties in the U.S." and planned purchases of 17 other properties in the U.S., Italy, and Canada, have Global Net lease "on pace to [earn enough money to] cover its dividend by mid-2021."Accordingly, Maher maintains a "buy" rating on the stock with a $24 price target that implies nearly 21% upside to the stock. (To watch Maher's track record, click here)Judging from the consensus breakdown, it has been relatively quiet when it comes to other analyst activity. Over the last three months, only 2 analysts have reviewed the real estate firm. Both of which, however, were bullish, making the consensus a Moderate Buy. On top of this, the $22.75 average price target puts the upside potential at ~15%. (See GNL stock analysis at TipRanks)

  • Thomson Reuters StreetEvents

    Edited Transcript of SAR earnings conference call or presentation 9-Jan-20 3:00pm GMT

    Q3 2020 Saratoga Investment Corp Earnings Call

  • ACCESSWIRE

    Saratoga Investment Corp. To Host Earnings Call

    NEW YORK, NY / ACCESSWIRE / January 9, 2020 / Saratoga Investment Corp. (NYSE:SAR) will be discussing their earnings results in their 2020 Third Quarter Earnings to be held on January 9, 2020 at 10:00 ...

  • Saratoga Investment (SAR) Q3 Earnings and Revenues Beat Estimates
    Zacks

    Saratoga Investment (SAR) Q3 Earnings and Revenues Beat Estimates

    Saratoga Investment (SAR) delivered earnings and revenue surprises of 3.39% and 0.22%, respectively, for the quarter ended November 2019. Do the numbers hold clues to what lies ahead for the stock?

  • GlobeNewswire

    Saratoga Investment Corp. Announces Fiscal Third Quarter 2020 Financial Results and Quarterly Dividend of $0.56 per Share ($2.24 per Share on an Annualized Basis)

    NEW YORK, Jan. 08, 2020 -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced financial results for.

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  • Hedge Funds Have Never Been This Bullish On Saratoga Investment Corp (SAR)
    Insider Monkey

    Hedge Funds Have Never Been This Bullish On Saratoga Investment Corp (SAR)

    Before we spend days researching a stock idea we like to take a look at how hedge funds and billionaire investors recently traded that stock. Russell 2000 ETF (IWM) lagged the larger S&P 500 ETF (SPY) by more than 10 percentage points since the end of the third quarter of 2018. This means hedge funds […]

  • GlobeNewswire

    Saratoga Investment Corp. to Hold Conference Call to Report Fiscal Third Quarter 2020 Financial Results and Announce Third Quarter Dividend

    NEW YORK, Dec. 09, 2019 -- Saratoga Investment Corp. (NYSE:SAR), a business development company, will report its financial results and announce its dividend for the fiscal.

  • Read This Before You Buy Gr. Sarantis S.A. (ATH:SAR) Because Of Its P/E Ratio
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    Vice Chairman & CEO Kyriakos Sarantis Just Bought Shares In Gr. Sarantis S.A. (ATH:SAR)

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  • Calculating The Intrinsic Value Of Gr. Sarantis S.A. (ATH:SAR)
    Simply Wall St.

    Calculating The Intrinsic Value Of Gr. Sarantis S.A. (ATH:SAR)

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  • Thomson Reuters StreetEvents

    Edited Transcript of SAR earnings conference call or presentation 10-Oct-19 2:00pm GMT

    Q2 2020 Saratoga Investment Corp Earnings Call