Wall Street brokerages expect that Garrison Capital Inc (NASDAQ:GARS) will post $9.78 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Garrison Capital’s earnings, with the lowest sales estimate coming in at $9.52 million and the highest estimate coming in at $9.93 million. Garrison Capital posted sales of $8.90 million in the same quarter last year, which would indicate a positive year over year growth rate of 9.9%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Garrison Capital will report full year sales of $39.81 million for the current year, with estimates ranging from $39.43 million to $40.11 million. For the next year, analysts expect that the firm will post sales of $42.17 million, with estimates ranging from $39.70 million to $45.94 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Garrison Capital.
Garrison Capital (NASDAQ:GARS) last announced its earnings results on Tuesday, August 7th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). Garrison Capital had a return on equity of 9.53% and a net margin of 33.79%. The business had revenue of $9.69 million for the quarter, compared to analyst estimates of $9.88 million.
Several equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Garrison Capital from a “hold” rating to a “sell” rating in a research note on Friday, August 10th. Maxim Group reiterated a “buy” rating and set a $11.00 target price on shares of Garrison Capital in a research note on Thursday, August 9th. National Securities increased their target price on shares of Garrison Capital from $10.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, August 13th. Finally, ValuEngine downgraded shares of Garrison Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, September 4th.
Shares of GARS traded down $0.06 during mid-day trading on Wednesday, hitting $8.29. 11,300 shares of the company’s stock were exchanged, compared to its average volume of 36,659. Garrison Capital has a fifty-two week low of $7.77 and a fifty-two week high of $8.95. The company has a market capitalization of $132.89 million, a price-to-earnings ratio of 7.79 and a beta of 0.30. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.56 and a current ratio of 1.56.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Friday, September 7th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Thursday, September 6th. This represents a $1.12 annualized dividend and a dividend yield of 13.51%. Garrison Capital’s dividend payout ratio (DPR) is 104.67%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of Garrison Capital by 24.6% during the first quarter. Millennium Management LLC now owns 30,810 shares of the investment management company’s stock worth $250,000 after buying an additional 6,075 shares during the period. Blair William & Co. IL boosted its stake in shares of Garrison Capital by 41.1% during the first quarter. Blair William & Co. IL now owns 28,500 shares of the investment management company’s stock worth $231,000 after buying an additional 8,300 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Garrison Capital by 135.2% during the second quarter. Acadian Asset Management LLC now owns 38,131 shares of the investment management company’s stock worth $310,000 after buying an additional 21,920 shares during the period. Macquarie Group Ltd. acquired a new stake in Garrison Capital in the second quarter valued at about $211,000. Finally, Advisors Asset Management Inc. lifted its position in Garrison Capital by 44.9% in the second quarter. Advisors Asset Management Inc. now owns 272,302 shares of the investment management company’s stock valued at $2,214,000 after purchasing an additional 84,361 shares during the period. Institutional investors and hedge funds own 25.49% of the company’s stock.
Garrison Capital Company Profile
Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, ?one-stop? senior secured or ?unitranche? loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.
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