Analysts Anticipate Garrison Capital Inc. (GARS) Will Post Quarterly Sales of $9.11 Million
Brokerages expect Garrison Capital Inc. (NASDAQ:GARS) to report $9.11 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Garrison Capital’s earnings, with estimates ranging from $8.99 million to $9.30 million. Garrison Capital posted sales of $11.11 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 18%. The business is expected to announce its next earnings results on Wednesday, November 8th.
According to Zacks, analysts expect that Garrison Capital will report full year sales of $9.11 million for the current fiscal year, with estimates ranging from $35.93 million to $36.70 million. For the next year, analysts forecast that the firm will report sales of $37.18 million per share, with estimates ranging from $35.08 million to $38.77 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Garrison Capital.
Garrison Capital (NASDAQ:GARS) last released its quarterly 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 firm had revenue of $9.03 million during the quarter, compared to analyst estimates of $9.08 million.
Several brokerages have weighed in on GARS. ValuEngine downgraded Garrison Capital from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded Garrison Capital from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Finally, National Securities reiterated a “neutral” rating and issued a $10.00 price objective on shares of Garrison Capital in a research report on Monday, August 14th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Garrison Capital presently has a consensus rating of “Hold” and a consensus price target of $9.94.
In related news, CFO Brian S. Chase acquired 4,000 shares of the stock in a transaction on Friday, August 11th. The stock was purchased at an average price 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 of the company’s stock, valued at approximately $372,309.45. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders acquired 8,000 shares of company stock valued at $65,190 in the last quarter. Corporate insiders own 5.80% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new position in shares of Garrison Capital during the second quarter valued at approximately $129,000. Alpine Woods Capital Investors LLC raised its holdings in shares of Garrison Capital by 81.8% during 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 acquiring an additional 9,000 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Garrison Capital during the second quarter valued at approximately $178,000. Stephens Inc. AR raised its holdings in shares of Garrison Capital by 14.1% during the first quarter. Stephens Inc. AR now owns 21,607 shares of the investment management company’s stock valued at $211,000 after acquiring an additional 2,673 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its holdings in shares of Garrison Capital by 35.6% during the second quarter. Oppenheimer & Co. Inc. now owns 53,727 shares of the investment management company’s stock valued at $444,000 after acquiring an additional 14,093 shares in the last quarter. Institutional investors own 22.03% of the company’s stock.
TRADEMARK VIOLATION WARNING: This piece of content was first reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark law. The correct version of this piece of content can be read at https://www.thecerbatgem.com/2017/10/01/analysts-anticipate-garrison-capital-inc-gars-will-post-quarterly-sales-of-9-11-million.html.
Garrison Capital (NASDAQ:GARS) opened at 8.43 on Friday. Garrison Capital has a 12-month low of $7.77 and a 12-month high of $10.54. The firm’s 50-day moving average is $8.31 and its 200 day moving average is $8.84.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Friday, September 8th were given a $0.28 dividend. The ex-dividend date of this dividend was Thursday, September 7th. This represents a $1.12 annualized dividend and a yield of 13.29%.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Stock Ratings for Garrison Capital Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Garrison Capital Inc. and related stocks with our FREE daily email newsletter.