Equities research analysts forecast that Garrison Capital Inc (NASDAQ:GARS) will report earnings of $0.27 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Garrison Capital’s earnings, with the lowest EPS estimate coming in at $0.26 and the highest estimate coming in at $0.28. Garrison Capital reported earnings per share of $0.31 during the same quarter last year, which would indicate a negative year-over-year growth rate of 12.9%. The firm is expected to issue its next quarterly earnings results on Tuesday, March 6th.
On average, analysts expect that Garrison Capital will report full year earnings of $1.09 per share for the current financial year, with EPS estimates ranging from $1.07 to $1.12. For the next financial year, analysts forecast that the firm will report earnings of $1.03 per share, with EPS estimates ranging from $0.94 to $1.12. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that follow Garrison Capital.
Garrison Capital (NASDAQ:GARS) last released its earnings results on Tuesday, November 7th. The investment management company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $8.90 million during the quarter. Garrison Capital had a return on equity of 9.33% and a net margin of 14.66%.
GARS has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Garrison Capital from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. ValuEngine raised shares of Garrison Capital from a “buy” rating to a “strong-buy” rating in a research report on Friday, December 1st. Maxim Group reissued a “buy” rating and issued a $11.00 target price on shares of Garrison Capital in a research report on Thursday, November 9th. Finally, National Securities reissued a “neutral” rating and issued a $10.00 target price on shares of Garrison Capital in a research report on Monday, November 13th. Six research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Garrison Capital currently has an average rating of “Hold” and a consensus price target of $10.13.
In related news, CFO Brian S. Chase acquired 7,000 shares of the stock in a transaction that occurred on Friday, December 8th. The shares were purchased at an average cost of $8.17 per share, with a total value of $57,190.00. Following the completion of the transaction, the chief financial officer now owns 59,135 shares of the company’s stock, valued at approximately $483,132.95. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Joseph Bertrand Tansey acquired 7,902 shares of the stock in a transaction that occurred on Tuesday, November 21st. The shares were bought at an average cost of $8.27 per share, for a total transaction of $65,349.54. Following the completion of the transaction, the chief executive officer now directly owns 103,796 shares of the company’s stock, valued at approximately $858,392.92. The disclosure for this purchase can be found here. Insiders have purchased 40,602 shares of company stock worth $337,332 over the last ninety days. 5.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Caxton Corp grew its position in Garrison Capital by 1,137.2% during the third quarter. Caxton Corp now owns 850,000 shares of the investment management company’s stock valued at $7,166,000 after purchasing an additional 781,298 shares in the last quarter. OxFORD Asset Management LLP grew its position in Garrison Capital by 56.1% during the third quarter. OxFORD Asset Management LLP now owns 17,586 shares of the investment management company’s stock valued at $148,000 after purchasing an additional 6,321 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Garrison Capital during the second quarter valued at approximately $178,000. Goldman Sachs Group Inc. purchased a new position in Garrison Capital during the second quarter valued at approximately $129,000. Finally, Stephens Inc. AR grew its position in Garrison Capital by 40.1% during the second quarter. Stephens Inc. AR now owns 30,274 shares of the investment management company’s stock valued at $250,000 after purchasing an additional 8,667 shares in the last quarter. 24.22% of the stock is currently owned by hedge funds and other institutional investors.
Garrison Capital (GARS) traded up $0.06 during trading on Friday, hitting $8.21. 39,600 shares of the stock traded hands, compared to its average volume of 62,110. The stock has a market capitalization of $131.77, a P/E ratio of 24.88 and a beta of 0.24. The company has a debt-to-equity ratio of 1.07, a quick ratio of 10.29 and a current ratio of 10.29. Garrison Capital has a 1-year low of $7.77 and a 1-year high of $10.15.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 22nd. Investors of record on Friday, December 8th were given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 13.64%. The ex-dividend date of this dividend was Thursday, December 7th. Garrison Capital’s payout ratio is presently 339.39%.
Garrison Capital Company Profile
Garrison Capital Inc is a managed, closed-end, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of the United States-based middle-market companies, which it defines as those having annual earnings before interest, taxes and depreciation, or EBITDA, of certain amount.
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