William Blair Analysts Decrease Earnings Estimates for Garrison Capital Inc (GARS)
Garrison Capital Inc (NASDAQ:GARS) – Equities researchers at William Blair cut their Q2 2017 earnings per share (EPS) estimates for shares of Garrison Capital in a report released on Monday. William Blair analyst R. Napoli now anticipates that the firm will post earnings of $0.29 per share for the quarter, down from their previous forecast of $0.35. William Blair also issued estimates for Garrison Capital’s Q3 2017 earnings at $0.29 EPS, Q4 2017 earnings at $0.29 EPS and FY2017 earnings at $1.20 EPS.
Several other brokerages have also recently weighed in on GARS. Zacks Investment Research cut Garrison Capital from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Robert W. Baird cut Garrison Capital from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $11.00 to $10.00 in a research note on Friday, August 12th. JMP Securities restated a “hold” rating on shares of Garrison Capital in a research note on Monday, August 15th. Finally, National Securities restated a “neutral” rating and set a $11.00 price objective on shares of Garrison Capital in a research note on Monday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $12.75.
Garrison Capital (NASDAQ:GARS) opened at 9.01 on Tuesday. The company has a 50 day moving average of $9.71 and a 200 day moving average of $10.16. The firm’s market capitalization is $144.68 million. Garrison Capital has a 1-year low of $8.75 and a 1-year high of $14.21.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 23rd. Shareholders of record on Friday, December 9th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 12.43%. The ex-dividend date of this dividend is Wednesday, December 7th.
In other Garrison Capital news, CFO Brian S. Chase bought 4,411 shares of the stock in a transaction dated Tuesday, November 15th. The shares were bought at an average cost of $8.95 per share, for a total transaction of $39,478.45. Following the purchase, the chief financial officer now directly owns 28,725 shares of the company’s stock, valued at approximately $257,088.75. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Brian S. Chase bought 3,011 shares of the stock in a transaction dated Monday, November 14th. The shares were acquired at an average price of $9.00 per share, for a total transaction of $27,099.00. Following the completion of the purchase, the chief financial officer now directly owns 28,725 shares in the company, valued at $258,525. The disclosure for this purchase can be found here.
Several large investors have recently added to or reduced their stakes in the company. GAM Holding AG acquired a new stake in Garrison Capital during the third quarter worth approximately $108,000. Clear Harbor Asset Management LLC acquired a new stake in Garrison Capital during the first quarter worth approximately $128,000. Stephens Inc. AR boosted its stake in Garrison Capital by 3.3% in the third quarter. Stephens Inc. AR now owns 21,092 shares of the investment management company’s stock worth $214,000 after buying an additional 669 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Garrison Capital by 2,855.3% in the second quarter. JPMorgan Chase & Co. now owns 26,154 shares of the investment management company’s stock worth $264,000 after buying an additional 25,269 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in Garrison Capital by 69.6% in the second quarter. Oppenheimer & Co. Inc. now owns 37,870 shares of the investment management company’s stock worth $382,000 after buying an additional 15,540 shares during the last quarter.
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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