Saratoga Investment Corp Down 2.11% To $23.66 After Earnings Meet

Saratoga Investment Corp (SAR) said after close Monday that it earned $1.08 per share in quarter two 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.

On the revenue line, the company reported $35.5 million, beating estimates by $154 thousand.

In the same quarter a year ago, the company earned $0.58 per share on revenue of $21.9 million.

The stock is down 2.11% to $23.66 after the report.

Saratoga Investment Corp's earnings expanded faster than revenues, signaling widening profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Saratoga Investment Corp a Bearish Sentiment Rank from InvestorsObserver.

Saratoga Investment Corp has performed a little below average during the past few months. Before the report, Saratoga Investment Corp received a Long-Term Technical Rank by InvestorsObserver of 44, putting it in the bottom half of stocks. The firm set a 52-week high on June 2, 2023 at $28.87 and set a 52-week low on October 21, 2022 at $20.3.

Saratoga Investment Corp is a specialty finance company, which invests primarily in leveraged loans and mezzanine debt issued by private middle-market companies in the United States. Its investment objective is to generate current income and, to a lesser extent, capital appreciation from its investments. Its portfolio comprises investments in leveraged loans, which are generally senior debt instruments that rank ahead of subordinated debt of the portfolio company issued by middle-market companies. In addition, it also purchases the mezzanine debt, which is unsecured and subordinated to senior debt of the portfolio company and makes equity investments in middle-market companies.