Saratoga Investment

Saratoga Investment Corp. is a specialty finance company, which engages in the provision of financing solutions. Its portfolio includes investments in leveraged loans issued by middle market companies. The company was founded on March 21, 2007 and is headquartered in New York, NY.

Earnings data Q4 2021

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Saratoga Investment Corp reports robust performance and strategic growth initiatives

Saratoga Investment Corp demonstrated strong financial performance with a notable rise in adjusted net investment income per share annually.
The company's prudent credit quality, strategic workforce planning, and ample investment capacity position them well for future growth.
While facing challenges with specific investments, Saratoga's proactive risk management and focus on talent acquisition present opportunities for value creation.
Strategic decision-making on capital utilization and investment opportunities will be crucial for Saratoga to navigate market dynamics and drive sustainable growth.

Saratoga Investment Corp. reports strong Q1 earnings amidst market challenges

Saratoga Investment Corp. demonstrated solid financial performance with increased income and strong credit quality, despite challenges in NAV and total return.
The company's strategic focus on existing portfolio companies and effective portfolio management are key strengths, while credit risk management and diversification remain critical areas to address.
Opportunities lie in leveraging financial flexibility for growth, actively managing challenged credits, and exploring a balanced mix of new and existing investments for enhanced returns.
Overall, Saratoga's performance reflects stability, prudent financial decisions, and a commitment to maximizing shareholder value through strategic portfolio management.

Saratoga Investment Corp. reports robust Q2 earnings and strategic growth outlook

Saratoga Investment Corp.'s Q2 2025 earnings call showcased strong financial performance, effective asset management, and a proactive approach to addressing challenges. With a focus on growth opportunities and risk mitigation strategies, the company remains well-positioned for continued success in the market.

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We take a look at the action in business development companies through the fourth week of May and highlight some of the key themes we are watching. Rules of thumb about rising rates driving poor BDC performance has not panned out. We highlight the SAR dividend raise and GAIN valuation.

BDC Weekly Review: Rule-Of-Thumb Analysis Isn't Working

Contact: Henri Steenkamp                                                            Saratoga Investment Corp.                                                                               212-906-7800

Saratoga Investment Corp. Increases Quarterly Dividend by $0.01, or 1.4%, to $0.74 per Share for the Fiscal First Quarter Ended May 31, 2024

Saratoga Investment Corp is a business development company that focuses on middle-market companies and offers a high starting dividend yield of 12.5%. SAR currently trades at a discount to NAV of 13%, which may make this an opportune time for entry. The credit quality of SAR's investments remains solid, but non-accruals sit at 1.7% of fair value.

Saratoga Investment Corp: Solid BDC But Lacks NAV Growth

Saratoga Investment (SAR) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

What Makes Saratoga Investment (SAR) a New Buy Stock

Saratoga Investment Corp. (NYSE:SAR ) Q4 2024 Earnings Conference Call May 7, 2024 1:00 PM ET Company Participants Christian Oberbeck - Chairman, Chief Executive Officer & President Henri Steenkamp - Chief Financial Officer, Chief Compliance Officer, Treasurer & Secretary Michael Grisius - Chief Investment Officer Conference Call Participants Erik Zwick - Hovde Group Robert Dodd - Raymond James. Mickey Schleien - Ladenburg Operator Good morning, ladies and gentlemen.

Saratoga Investment Corp. (SAR) Q4 2024 Earnings Call Transcript

Saratoga Investment (SAR) came out with quarterly earnings of $0.94 per share, missing the Zacks Consensus Estimate of $0.96 per share. This compares to earnings of $0.98 per share a year ago.

Saratoga Investment (SAR) Lags Q4 Earnings Estimates

NEW YORK, May 06, 2024 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company (“BDC”), today announced financial results for its 2024 fiscal year and fourth quarter, with Net Investment Income (“NII”) per share up 53% from last year and up 16% over last year's fourth quarter, and adjusted NII per share up 44% from last year and down 4% from last year's fourth quarter. The substantial year-over-year increase in NII reflects growth in Assets under Management (“AUM”), strong overall portfolio performance and margin improvement from year-over-year increased rates and spreads on Saratoga Investment's largely floating rate assets, with costs of financing liabilities remaining largely fixed.

Saratoga Investment Corp. Announces Fiscal Year-End and Fourth Quarter 2024 Financial Results

Saratoga Investment Corp pays a large dividend yield currently, but investors should proceed with caution for reasons listed in this article. The company's portfolio is well-diversified, with most of their investments in Healthcare Software & IT Services. While the dividend coverage is currently strong, there are concerns about dilution and the company's leverage and portfolio quality due to their rise in non-accruals.

Saratoga Investment Corp: Collect A 12.4% Yield With This BDC, But Proceed With Caution

NEW YORK, April 15, 2024 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR), a business development company, will report its financial results for the fiscal quarter ended February 29, 2024, on Monday May 6, 2024, after market close. A conference call to discuss the financial results will be held on Tuesday May 7, 2024. Details for the conference call are provided below.

Saratoga Investment Corp. to Report Fiscal Fourth Quarter 2024 Financial Results and Hold Conference Call

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NEW YORK, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced that its Board of Directors has declared a quarterly dividend of $0.73 per share for the fiscal fourth quarter ended February 29, 2024, an increase of $0.01 from $0.72 per share in the prior fiscal third quarter, and the sixteenth quarterly dividend increase in a row. Total dividends for fiscal year 2024 are $2.85 per share, an increase of 16.8% over the prior year. This fourth quarter dividend is payable on March 28, 2024, to all stockholders of record at the close of business on March 13, 2024.

Saratoga Investment Corp. Increases Quarterly Dividend by $0.01, or 1.4%, to $0.73 per Share for the Fiscal Fourth Quarter Ended February 29, 2024

Saratoga Investment Corp is a small-cap business development company with a big 12.4% dividend yield and the shares just sold off hard (down ~10% year-to-date) now trading at a discounted 0.89x book value. Saratoga's 2.2x debt/equity is not as precarious as it may seem (thanks to significant loans backed by the SBIC), but it still could become problematic as non-transparent depreciation/write-downs continue. After comparing Saratoga to 40+ big-yield BDCs, we review the business, dividend, valuation, risks, and conclude with how it ranks among the top ideas in our portfolio.

Saratoga Investment (Down Big): 40+ Big-Yield BDCs Compared

SAR yields 12.5%, with strong dividend coverage, and a 10% 5-year dividend growth rate. SAR is undervalued vs, the BDC industry on a P/NII trailing and forward basis, and on a Price/NAV basis. We rate SAR a BUY.

Saratoga Investment Corp: 12% Yield, 16% Discount, Buy Rating

We take a look at the action in business development companies through the second week of January and highlight some of the key themes we are watching. BDCs were flat on the week, consolidating after a run-up late last year. The early-to-report Saratoga Investment Corp released Q4 results with a drop in net income and NAV.

BDC Weekly Review: Canary In The Coalmine SAR Is Showing Signs Of Fatigue

Saratoga Investment Corp (SAR) Q3 2024 Earnings Call Transcript

NEW YORK, Jan. 09, 2024 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company (“BDC”), today announced financial results for its 2024 fiscal third quarter, with Net Investment Income (“NII”) per share down 5% from last quarter and up 27% over last year's third quarter, and adjusted NII per share down 6% from last quarter and up 31% from last year. The substantial year-over-year increase in earnings reflect growth in Assets under Management (“AUM”), stable overall portfolio performance and margin improvement from year-over-year increasing rates on Saratoga Investment's largely floating rate assets, with costs of financing liabilities remaining largely fixed.

Saratoga Investment Corp. Announces Fiscal Third Quarter 2024 Financial Results

NEW YORK, Dec. 28, 2023 (GLOBE NEWSWIRE) --  Saratoga Investment Corp. (NYSE:SAR), a business development company, will report its financial results for the fiscal quarter ended November 30, 2023, on Tuesday January 9, 2024, after market close. A conference call to discuss the financial results will be held on Wednesday January 10, 2024. Details for the conference call are provided below.

Saratoga Investment Corp. to Report Fiscal Third Quarter 2024 Financial Results and Hold Conference Call

The year-end rally thus far has made it difficult for value investors to find bargains among large-cap stocks. However, plenty of value remains, and Saratoga Investment Corp currently offers a well-covered 11% yield with a diversified and stable portfolio. SAR has a strong track record of preserving and growing NAV/share and currently trades at an appealing discount to net asset value.

Saratoga Investment: Big Yield At Significant Discount

Contact: Henri SteenkampSaratoga Investment Corp.212-906-7800 NEW YORK, Nov. 15, 2023 (GLOBE NEWSWIRE) -- Saratoga Investment Corp. (NYSE:SAR) (“Saratoga Investment” or “the Company”), a business development company, today announced that its Board of Directors has declared a quarterly dividend of $0.72 per share for the fiscal third quarter ended November 30, 2023, an increase of $0.01 from $0.71 per share in the prior fiscal second quarter, and the fifteenth quarterly dividend increase in a row. This dividend is payable on December 28, 2023, to all stockholders of record at the close of business on December 11, 2023.

Saratoga Investment Corp. Increases Quarterly Dividend by $0.01, or 1.4%, to $0.72 per Share for the Fiscal Third Quarter Ended November 30, 2023

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We take a look at the action in business development companies through the second week of October and highlight some of the key themes we are watching. BDCs were up on the week along with most other income sectors but remain down on the month. The term premium has risen this year - we take a look at what this means for BDCs.

BDC Weekly Review: How A Rising Term Premium Will Impact BDCs

After losing some value lately, a hammer chart pattern has been formed for Saratoga Investment (SAR), indicating that the stock has found support. This, combined with an upward trend in earnings estimate revisions, could lead to a trend reversal for the stock in the near term.

Here's Why Saratoga Investment (SAR) Is a Great 'Buy the Bottom' Stock Now

Saratoga reported robust earnings this week - NII rose 81%, NII/Share rose 80%. It yields 12% with strong 1.49X dividend coverage. Saratoga is undervalued: 17% NAV discount, forward P/E is ~27% cheaper than the 7.6X BDC average, trailing P/NII is 32% cheaper than the industry's average.

Saratoga Investment Corp: 12% Yield, Strong Growth, Undervalued, Buy Rating

Saratoga Investment Corp (NYSE:SAR ) Q2 2024 Earnings Call Transcript October 10, 2023 10:00 AM ET Company Participants Henri Steenkamp - Chief Financial Officer & Chief Compliance Officer Christian Oberbeck - Chairman and Chief Executive Officer Michael Grisius - Chief Investment Officer Conference Call Participants Bryce Rowe - B. Riley Casey Alexander - Compass Point Research Mickey Schleien - Ladenburg Thalmann Sean-Paul Adams - Raymond James Erik Zwick - Hovde Group Operator Good morning, ladies and gentlemen.

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