Saratoga Investment Corp. (NYSE:SAR) Plans Dividend Increase – $0.25 Per Share

Saratoga Investment Corp. (NYSE:SAR) declared a monthly dividend on Thursday, February 20th, Wall Street Journal reports. Stockholders of record on Thursday, June 5th will be paid a dividend of 0.25 per share by the financial services provider on Tuesday, June 24th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 11.71%. The ex-dividend date is Thursday, June 5th. This is a boost from Saratoga Investment’s previous monthly dividend of $0.25.

Saratoga Investment Price Performance

Shares of SAR opened at $25.63 on Friday. Saratoga Investment has a 1 year low of $21.56 and a 1 year high of $26.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.33 and a quick ratio of 0.33. The company has a market capitalization of $367.79 million, a price-to-earnings ratio of 10.33 and a beta of 1.34. The business has a 50-day moving average of $24.63 and a 200-day moving average of $24.09.

Saratoga Investment (NYSE:SAR) last issued its earnings results on Wednesday, January 8th. The financial services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.08. Saratoga Investment had a return on equity of 15.53% and a net margin of 22.01%. As a group, equities research analysts anticipate that Saratoga Investment will post 3.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SAR. Compass Point lowered their target price on Saratoga Investment from $26.25 to $25.25 and set a “buy” rating for the company in a report on Monday, January 13th. StockNews.com upgraded Saratoga Investment from a “hold” rating to a “buy” rating in a report on Sunday, January 26th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Saratoga Investment has an average rating of “Hold” and a consensus target price of $25.08.

Saratoga Investment Company Profile

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.