Saratoga Investment Corp. Expects Q3 Earnings to Drop to 59 Cents
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 02 2026
0mins
Should l Buy SAR?
Source: Benzinga
- Earnings Decline: Saratoga Investment Corp. anticipates Q3 2025 earnings to drop to 59 cents per share, down from 90 cents a year ago, indicating significant profitability pressure that may affect investor confidence.
- Revenue Changes: The expected revenue of $31.35 million for Q3 represents a decline from $35.88 million in the previous year, highlighting challenges in revenue growth that could impact future capital allocation and investment decisions.
- Increased Credit Facility: On November 6, the company announced an $85 million credit facility with Valley National Bank, enhancing liquidity to navigate market fluctuations, demonstrating a proactive financing strategy.
- Analyst Rating Adjustments: Analyst John Rowan from Janney Montgomery Scott downgraded the stock from Buy to Neutral on October 10, 2025, reflecting a cautious market outlook on the company's future performance, which may lead investors to reassess their holding strategies.
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Analyst Views on SAR
Wall Street analysts forecast SAR stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for SAR is 24.00 USD with a low forecast of 23.00 USD and a high forecast of 25.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
2 Analyst Rating
1 Buy
1 Hold
0 Sell
Moderate Buy
Current: 23.470
Low
23.00
Averages
24.00
High
25.00
Current: 23.470
Low
23.00
Averages
24.00
High
25.00
About SAR
Saratoga Investment Corp. is a specialty finance company that provides customized financing solutions to United States middle-market businesses. The Company invests primarily in senior and unitranche leveraged loans and mezzanine debt, and, to a lesser extent, equity to provide financing for change of ownership transactions, strategic acquisitions, recapitalizations and growth initiatives in partnership with business owners, management teams and financial sponsors. Its investment’s objective is to create attractive risk-adjusted returns by generating current income and long-term capital appreciation from its debt and equity investments. The Company’s portfolio is comprised primarily of investments in leveraged loans issued by middle-market companies. It also invests in mezzanine debt and makes equity investments in middle-market companies. The Company’s investment activities are externally managed and advised by Saratoga Investment Advisors, LLC.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Interest Payment Structure: The notes will accrue interest at an annual rate of 7.50%, with payments starting on May 31, 2026, and occurring quarterly on February 28, May 31, August 31, and November 30, ensuring stable returns for investors.
- Underwriter Purchase Option: The company granted underwriters an option to purchase an additional $15 million of notes, a strategy that not only provides flexible financing options but also allows for potential expansion of the offering in response to strong market demand.
- Listing Plans: The notes are expected to be listed on the NYSE under the symbol “SAV” within 30 days of issuance, which will enhance the company's market visibility and provide liquidity for investors.
See More
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- Investor Preference Shift: Amid market turbulence and uncertainty, many investors are turning to dividend-yielding stocks, which typically have high free cash flows and reward shareholders with substantial dividends, indicating a strong desire for stable income.
- Analyst Rating Overview: Benzinga provides the latest analyst ratings on high-yield stocks, allowing investors to review the latest analyses of their favorite stocks by visiting the Analyst Stock Ratings page, thereby enhancing transparency in investment decisions.
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- Interest Rate and Maturity: The new notes will mature in 2031 and can be redeemed in whole or in part at the company's option after February 6, 2028, providing flexible capital management options that help optimize the company's capital structure.
- Investment Rating: The company received a “BBB+” investment-grade rating from Egan-Jones Ratings Company, indicating strong creditworthiness, which may attract more investors and enhance market confidence.
- Underwriter Lineup: With Lucid Capital Markets and Oppenheimer & Co. serving as joint book-running managers, the offering is backed by a strong underwriting team, expected to facilitate the notes' listing on the New York Stock Exchange, thereby increasing the company's market visibility.
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Maturity Date: The notes are set to mature in 2031.
See More
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- Offering Launch: Saratoga Investment announced on Thursday the commencement of a registered public offering of unsecured notes, expected to be listed on the New York Stock Exchange within 30 days under the trading symbol 'SAV', providing new financing avenues for future growth.
- Credit Rating Upgrade: The company received a BBB+ independent investment grade rating from Egan-Jones, a nationally recognized statistical rating organization, which is likely to enhance investor confidence and potentially lower financing costs, thereby improving the company's competitive position in the market.
- Clear Use of Proceeds: Saratoga plans to use the net proceeds from this offering, combined with available cash, to fully redeem its outstanding 4.375% notes due in 2026, optimizing its capital structure and reducing interest expenses.
- Positive Market Environment: Amid rising M&A activity, Saratoga Investment reported $395.6 million in liquidity, indicating the company's capability for accretive investments in the current market landscape, further solidifying its position within the industry.
See More
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- Offering Launch: Saratoga Investment Corp. has announced the commencement of a registered public offering of unsecured notes, expected to be listed on the NYSE under the symbol 'SAV' within 30 days, which will provide new financing avenues to support business expansion.
- Investment Grade Rating: The company received a 'BBB+' investment grade rating from Egan-Jones Ratings Company, enhancing market confidence in its debt instruments and likely attracting more investors to participate in the bond offering, thereby improving its financing capabilities.
- Clear Use of Proceeds: The net proceeds from this offering will be used to fully redeem the company's outstanding 4.375% Notes due 2026, aimed at reducing financial costs and optimizing capital structure, which will further strengthen the company's financial stability and investment appeal.
- Strong Management Team: With Lucid Capital Markets and Oppenheimer & Co. serving as joint book-running managers, the offering benefits from their extensive market experience and resources, which is expected to enhance the success rate of the bond issuance and broaden the investor base.
See More
