$9.08 Million in Sales Expected for Garrison Capital Inc (GARS) This Quarter

Analysts expect Garrison Capital Inc (NASDAQ:GARS) to announce $9.08 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Garrison Capital’s earnings. The highest sales estimate is $9.32 million and the lowest is $8.82 million. Garrison Capital reported sales of $11.14 million during the same quarter last year, which indicates a negative year over year growth rate of 18.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, August 8th.

According to Zacks, analysts expect that Garrison Capital will report full-year sales of $9.08 million for the current fiscal year, with estimates ranging from $35.42 million to $37.01 million. For the next financial year, analysts anticipate that the firm will report sales of $38.48 million per share, with estimates ranging from $37.60 million to $39.52 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Garrison Capital.

Garrison Capital (NASDAQ:GARS) last issued its quarterly earnings results on Tuesday, May 9th. The investment management company reported $0.26 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.29 by $0.03. Garrison Capital had a negative return on equity of 8.20% and a negative net margin of 44.34%. The business had revenue of $8.99 million for the quarter, compared to the consensus estimate of $9.73 million.

Several research analysts recently weighed in on the company. ValuEngine lowered Garrison Capital from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. National Securities lowered their price objective on Garrison Capital from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, May 15th. CIBC lowered Garrison Capital from an “outperform” rating to a “market perform” rating in a research report on Friday, May 12th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of Garrison Capital in a research report on Friday, May 12th. Finally, Citigroup Inc. restated a “market perform” rating on shares of Garrison Capital in a research note on Friday, May 12th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has issued a buy rating to the company. Garrison Capital currently has an average rating of “Hold” and an average price target of $10.13.

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In related news, CEO Joseph Bertrand Tansey acquired 9,000 shares of Garrison Capital stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average cost of $8.70 per share, for a total transaction of $78,300.00. Following the completion of the purchase, the chief executive officer now owns 103,696 shares in the company, valued at $902,155.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian S. Chase acquired 6,000 shares of Garrison Capital stock in a transaction dated Tuesday, May 16th. The stock was bought at an average price of $8.69 per share, for a total transaction of $52,140.00. Following the completion of the purchase, the chief financial officer now owns 40,125 shares of the company’s stock, valued at approximately $348,686.25. The disclosure for this purchase can be found here. Insiders have acquired 34,210 shares of company stock worth $299,712 over the last 90 days.

Hedge funds have recently made changes to their positions in the stock. Two Sigma Investments LP boosted its stake in shares of Garrison Capital by 3.4% in the fourth quarter. Two Sigma Investments LP now owns 75,575 shares of the investment management company’s stock valued at $707,000 after buying an additional 2,500 shares during the last quarter. UBS Group AG boosted its stake in shares of Garrison Capital by 20.3% in the first quarter. UBS Group AG now owns 442,062 shares of the investment management company’s stock valued at $4,324,000 after buying an additional 74,540 shares during the last quarter. Blair William & Co. IL boosted its stake in shares of Garrison Capital by 1.1% in the first quarter. Blair William & Co. IL now owns 70,650 shares of the investment management company’s stock valued at $712,000 after buying an additional 750 shares during the last quarter. Baird Financial Group Inc. boosted its stake in shares of Garrison Capital by 1.3% in the first quarter. Baird Financial Group Inc. now owns 53,650 shares of the investment management company’s stock valued at $525,000 after buying an additional 700 shares during the last quarter. Finally, Ares Management LLC boosted its stake in shares of Garrison Capital by 0.8% in the first quarter. Ares Management LLC now owns 309,244 shares of the investment management company’s stock valued at $3,024,000 after buying an additional 2,500 shares during the last quarter.

Shares of Garrison Capital (NASDAQ GARS) traded up 0.49% during midday trading on Friday, hitting $8.16. The company had a trading volume of 13,978 shares. The company has a 50-day moving average of $8.60 and a 200-day moving average of $9.37. Garrison Capital has a 12 month low of $8.06 and a 12 month high of $10.98.

The company also recently declared a quarterly dividend, which was paid on Friday, June 23rd. Shareholders of record on Friday, June 9th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 13.79%. The ex-dividend date was Wednesday, June 7th.

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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