Maxim Group Reiterates Their Buy Rating on Garrison


In a report released today, Michael Diana from Maxim Group reiterated a Buy rating on Garrison (NASDAQ: GARS), with a price target of $11. The company’s shares opened today at $8.40.

Diana noted:

“GARS reported 1Q18 EPS of $0.13 versus its dividend of $0.28, so NAV was relatively stable (down 1.3%, to $11.54). We are maintaining our 2018 dividend estimate of $1.12 – representing a yield of 13.3% – covered by earnings in the remaining three quarters of 2018. As GARS has now resolved most of its legacy problem loans, we are now valuing it closer to peers that have not encountered difficulties. Our price target of $11 equates to 0.95x NAV, a modest discount to the 1.0x NAV level at which we believe well-performing BDCs should trade in the current environment..”

According to TipRanks.com, Diana is a 5-star analyst with an average return of 7.3% and a 63.5% success rate. Diana covers the Financial sector, focusing on stocks such as Manhattan Bridge Capital Inc, Arlington Asset Investment, and Westamerica Bancorporation.

Garrison has an analyst consensus of Moderate Buy, with a price target consensus of $11.

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Garrison’s market cap is currently $139.1M and has a P/E ratio of 21.45. The company has a Price to Book ratio of 0.74.

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Garrison Capital, Inc. operates as a externally managed, non-diversified closed-end investment fund. The firm’s investment objective is to generate current income and capital appreciation by making investments primarily in debt securities and loans of U.S. based middle-market companies.

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