$0.28 EPS Expected for Garrison Capital Inc. (GARS) This Quarter
Equities research analysts predict that Garrison Capital Inc. (NASDAQ:GARS) will announce earnings per share (EPS) of $0.28 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Garrison Capital’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.30. Garrison Capital posted earnings per share of $0.16 during the same quarter last year, which suggests a positive year-over-year growth rate of 75%. The firm is expected to issue its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Garrison Capital will report full-year earnings of $1.11 per share for the current fiscal year, with EPS estimates ranging from $1.10 to $1.15. For the next year, analysts anticipate that the firm will report earnings of $1.05 per share, with EPS estimates ranging from $1.01 to $1.12. Zacks’ earnings per share calculations 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 8th. The investment management company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.02. Garrison Capital had a negative net margin of 0.38% and a positive return on equity of 8.33%. The company had revenue of $9.03 million during the quarter, compared to analyst estimates of $9.08 million.
GARS has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Garrison Capital from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Citigroup Inc. restated a “market perform” rating on shares of Garrison Capital in a research report on Friday, May 12th. National Securities restated a “neutral” rating and set a $10.00 price objective on shares of Garrison Capital in a research report on Monday, August 14th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of Garrison Capital in a research report on Friday, May 12th. Finally, ValuEngine cut shares of Garrison Capital from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Seven research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $9.94.
In other news, CFO Brian S. Chase acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 11th. The stock was purchased at an average cost of $8.07 per share, for a total transaction of $32,280.00. Following the completion of the transaction, the chief financial officer now owns 46,135 shares in the company, valued at $372,309.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.80% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in GARS. Goldman Sachs Group Inc. bought a new position in shares of Garrison Capital during the second quarter valued at $129,000. Alpine Woods Capital Investors LLC raised its position in shares of Garrison Capital by 81.8% in the second quarter. Alpine Woods Capital Investors LLC now owns 20,000 shares of the investment management company’s stock valued at $165,000 after buying an additional 9,000 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Garrison Capital during the second quarter valued at $178,000. Stephens Inc. AR raised its position in shares of Garrison Capital by 14.1% in the first quarter. Stephens Inc. AR now owns 21,607 shares of the investment management company’s stock valued at $211,000 after buying an additional 2,673 shares during the period. Finally, Oppenheimer & Co. Inc. raised its position in shares of Garrison Capital by 35.6% in the second quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock valued at $444,000 after buying an additional 14,093 shares during the period. 21.67% of the stock is owned by institutional investors.
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Shares of Garrison Capital (GARS) traded down 0.59% on Wednesday, reaching $8.48. 23,098 shares of the company traded hands. Garrison Capital has a 1-year low of $7.77 and a 1-year high of $10.98. The stock has a 50-day moving average price of $8.16 and a 200 day moving average price of $9.01.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Friday, September 8th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 13.21%. The ex-dividend date is Thursday, September 7th.
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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