Equities research analysts expect Garrison Capital Inc (NASDAQ:GARS) to announce earnings per share of $0.21 for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Garrison Capital’s earnings. Garrison Capital posted earnings of $0.31 per share in the same quarter last year, which indicates a negative year over year growth rate of 32.3%. The firm is scheduled to report its next earnings results on Tuesday, May 14th.
On average, analysts expect that Garrison Capital will report full year earnings of $0.90 per share for the current year, with EPS estimates ranging from $0.89 to $0.92. For the next year, analysts anticipate that the business will report earnings of $0.94 per share, with EPS estimates ranging from $0.92 to $0.95. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that that provide coverage for Garrison Capital.
Several research firms have commented on GARS. Zacks Investment Research cut Garrison Capital from a “buy” rating to a “hold” rating in a report on Monday, March 11th. National Securities reduced their price objective on Garrison Capital from $11.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, March 11th.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 22nd will be paid a $0.23 dividend. This represents a $0.92 annualized dividend and a dividend yield of 12.81%. The ex-dividend date is Thursday, March 21st. Garrison Capital’s dividend payout ratio is currently 91.09%.
In other news, Director Joseph Morea acquired 5,000 shares of Garrison Capital stock in a transaction dated Friday, March 8th. The shares were acquired at an average cost of $7.45 per share, with a total value of $37,250.00. Following the purchase, the director now directly owns 9,500 shares of the company’s stock, valued at approximately $70,775. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Brian S. Chase acquired 4,000 shares of Garrison Capital stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average cost of $7.47 per share, for a total transaction of $29,880.00. Following the completion of the purchase, the chief operating officer now directly owns 71,135 shares in the company, valued at $531,378.45. The disclosure for this purchase can be found here. Insiders bought a total of 67,632 shares of company stock worth $504,202 over the last ninety days. Corporate insiders own 6.40% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC acquired a new position in shares of Garrison Capital in the 4th quarter valued at about $76,000. Clear Harbor Asset Management LLC lifted its position in Garrison Capital by 3.5% during the 4th quarter. Clear Harbor Asset Management LLC now owns 91,885 shares of the investment management company’s stock worth $591,000 after acquiring an additional 3,098 shares in the last quarter. Stephens Inc. AR lifted its position in Garrison Capital by 19.6% during the 4th quarter. Stephens Inc. AR now owns 26,809 shares of the investment management company’s stock worth $172,000 after acquiring an additional 4,395 shares in the last quarter. National Asset Management Inc. lifted its position in Garrison Capital by 24.8% during the 4th quarter. National Asset Management Inc. now owns 18,603 shares of the investment management company’s stock worth $120,000 after acquiring an additional 3,700 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its position in Garrison Capital by 27.1% during the 4th quarter. Acadian Asset Management LLC now owns 90,335 shares of the investment management company’s stock worth $582,000 after acquiring an additional 19,282 shares in the last quarter. 26.65% of the stock is currently owned by institutional investors and hedge funds.
About Garrison Capital
Garrison Capital Inc is a business development company specializing in investments primarily in the debt and equity of middle market companies. It seeks to invest in first lien senior secured loans, second lien senior secured loans, one-stop senior secured or unitranche loans, subordinated or mezzanine loans, unsecured consumer loans and to a lesser extent, selected equity co-investments in middle-market companies, warrants and minority equity securities in United States middle-market companies.
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