Apollo Investment Corp. Stock Rating Reaffirmed by Citigroup Inc. (AINV)
Apollo Investment Corp. (NASDAQ:AINV)‘s stock had its “neutral” rating reiterated by analysts at Citigroup Inc. in a research report issued to clients and investors on Friday. They currently have a $8.50 price target on the stock, up from their previous price target of $8.00. Citigroup Inc.’s target price would suggest a potential upside of 0.59% from the company’s current price.
Shares of Apollo Investment Corp. (NASDAQ:AINV) traded up 0.65% on Friday, hitting $8.505. 294,289 shares of the company’s stock traded hands. Apollo Investment Corp. has a one year low of $7.73 and a one year high of $9.21. The stock’s 50-day moving average is $8.60 and its 200-day moving average is $8.4.
Apollo Investment Corp. (NASDAQ:AINV) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.22 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.22. The company had revenue of $102.58 million for the quarter, compared to the consensus estimate of $101.72 million. During the same quarter last year, the company posted $0.25 earnings per share. Apollo Investment Corp.’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Apollo Investment Corp. will post $0.89 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, October 6th. Stockholders of record on Friday, September 19th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 9.47%. The ex-dividend date of this dividend is Wednesday, September 17th.
Several other analysts have also recently commented on the stock. Analysts at SunTrust upgraded shares of Apollo Investment Corp. from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 9th. They now have a $10.00 price target on the stock, up previously from $8.56. Separately, analysts at Bank of America upgraded shares of Apollo Investment Corp. to a “neutral” rating in a research note on Tuesday, June 17th. They now have a $8.75 price target on the stock, down previously from $9.00. Finally, analysts at Keefe, Bruyette & Woods upgraded shares of Apollo Investment Corp. from a “market perform” rating to an “outperform” rating in a research note on Tuesday, June 17th. They now have a $9.50 price target on the stock, up previously from $9.00. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $9.04.
Apollo Investment Corporation (NASDAQ:AINV) is a closed-end, non-diversified management investment company that has elected to be treated as a business development company (BDC).
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