$8.98 Million in Sales Expected for Garrison Capital Inc (GARS) This Quarter
Equities research analysts expect Garrison Capital Inc (NASDAQ:GARS) to announce $8.98 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Garrison Capital’s earnings, with estimates ranging from $8.95 million to $9.00 million. Garrison Capital reported sales of $9.65 million in the same quarter last year, which would suggest a negative year over year growth rate of 6.9%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, March 6th.
According to Zacks, analysts expect that Garrison Capital will report full-year sales of $8.98 million for the current financial year, with estimates ranging from $35.88 million to $35.93 million. For the next fiscal year, analysts forecast that the business will post sales of $37.68 million per share, with estimates ranging from $36.58 million to $38.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Garrison Capital.
Garrison Capital (NASDAQ:GARS) last posted its quarterly earnings results on Tuesday, November 7th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.02). Garrison Capital had a return on equity of 9.33% and a net margin of 14.66%. The business had revenue of $8.90 million during the quarter.
Garrison Capital (NASDAQ:GARS) opened at $8.14 on Friday. The company has a debt-to-equity ratio of 1.07, a current ratio of 10.29 and a quick ratio of 10.29. Garrison Capital has a 52-week low of $7.77 and a 52-week high of $10.15. The stock has a market cap of $130.00, a PE ratio of 23.94 and a beta of 0.23.
In other news, CFO Brian S. Chase acquired 4,000 shares of the business’s stock in a transaction that occurred on Friday, November 17th. The shares were purchased at an average cost of $8.15 per share, for a total transaction of $32,600.00. Following the transaction, the chief financial officer now directly owns 50,135 shares in the company, valued at approximately $408,600.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Joseph Bertrand Tansey acquired 9,900 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was purchased at an average price of $8.42 per share, for a total transaction of $83,358.00. Following the completion of the transaction, the chief executive officer now owns 123,696 shares in the company, valued at $1,041,520.32. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 40,602 shares of company stock worth $337,332. 5.80% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of GARS. Goldman Sachs Group Inc. bought a new stake in Garrison Capital in the 2nd quarter valued at about $129,000. OxFORD Asset Management LLP lifted its position in Garrison Capital by 56.1% in the 3rd 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 during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Garrison Capital in the 2nd quarter valued at about $178,000. Finally, Caxton Corp lifted its position in Garrison Capital by 1,137.2% in the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 24.27% of the company’s stock.
About Garrison Capital
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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