Garrison Capital Inc (NASDAQ:GARS) Expected to Post Quarterly Sales of $10.90 Million

Equities research analysts predict that Garrison Capital Inc (NASDAQ:GARS) will report sales of $10.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Garrison Capital’s earnings. The highest sales estimate is $11.05 million and the lowest is $10.75 million. Garrison Capital reported sales of $9.31 million during the same quarter last year, which would suggest a positive year over year growth rate of 17.1%. The firm is scheduled to announce its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Garrison Capital will report full-year sales of $42.99 million for the current year, with estimates ranging from $42.60 million to $43.38 million. For the next year, analysts anticipate that the business will report sales of $44.45 million, with estimates ranging from $43.69 million to $45.20 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that follow Garrison Capital.

Garrison Capital (NASDAQ:GARS) last announced its quarterly earnings results on Friday, August 9th. The investment management company reported $0.22 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.22. The business had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $10.76 million. Garrison Capital had a positive return on equity of 7.98% and a negative net margin of 6.63%.

Several equities analysts have recently issued reports on the company. National Securities cut Garrison Capital from a “buy” rating to a “neutral” rating and reduced their target price for the company from $10.00 to $8.00 in a research note on Tuesday, May 14th. Zacks Investment Research raised Garrison Capital from a “hold” rating to a “buy” rating and set a $7.75 target price on the stock in a research note on Thursday. ValuEngine cut Garrison Capital from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd. Finally, TheStreet cut Garrison Capital from a “c” rating to a “d+” rating in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.25.

Garrison Capital stock traded up $0.04 during trading hours on Friday, reaching $7.09. The company had a trading volume of 40,305 shares, compared to its average volume of 31,868. The company has a debt-to-equity ratio of 2.10, a current ratio of 3.18 and a quick ratio of 3.83. The company has a 50-day moving average price of $6.99 and a 200 day moving average price of $7.14. The firm has a market cap of $113.47 million, a price-to-earnings ratio of 7.02 and a beta of 0.58. Garrison Capital has a 12-month low of $6.03 and a 12-month high of $8.84.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, September 6th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Thursday, September 5th. This represents a $0.92 annualized dividend and a yield of 12.98%. Garrison Capital’s payout ratio is 91.09%.

Hedge funds have recently modified their holdings of the stock. Oppenheimer & Co. Inc. grew its stake in Garrison Capital by 89.0% in the first quarter. Oppenheimer & Co. Inc. now owns 46,364 shares of the investment management company’s stock worth $333,000 after purchasing an additional 21,838 shares during the period. Squarepoint Ops LLC purchased a new stake in Garrison Capital in the fourth quarter worth $76,000. Clear Harbor Asset Management LLC grew its stake in Garrison Capital by 39.5% in the second quarter. Clear Harbor Asset Management LLC now owns 129,014 shares of the investment management company’s stock worth $890,000 after purchasing an additional 36,558 shares during the period. Virtus ETF Advisers LLC purchased a new stake in Garrison Capital in the second quarter worth $1,895,000. Finally, JPMorgan Chase & Co. grew its stake in Garrison Capital by 10.1% in the second quarter. JPMorgan Chase & Co. now owns 26,075 shares of the investment management company’s stock worth $180,000 after purchasing an additional 2,400 shares during the period. 28.31% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Garrison Capital (NASDAQ:GARS)

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