Apollo Investment Corp. Receives Consensus Recommendation of “Buy” from Analysts (NASDAQ:AINV)
Apollo Investment Corp. (NASDAQ:AINV) has received a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, American Banking News.com reports. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $9.04.
Shares of Apollo Investment Corp. (NASDAQ:AINV) opened at 8.58 on Tuesday. Apollo Investment Corp. has a one year low of $7.75 and a one year high of $9.21. The stock’s 50-day moving average is $8.64 and its 200-day moving average is $8.42. Apollo Investment Corp. also saw a large decrease in short interest during the month of July. As of July 31st, there was short interest totalling 1,319,072 shares, a decrease of 28.9% from the July 15th total of 1,856,173 shares. Based on an average trading volume of 1,595,338 shares, the short-interest ratio is presently 0.8 days. Currently, 0.6% of the shares of the stock are short sold.
Apollo Investment Corp. (NASDAQ:AINV) last announced its earnings results on Thursday, August 7th. The company reported $0.23 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.01. The company had revenue of $102.58 million for the quarter, compared to the consensus estimate of $101.72 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. The company’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Apollo Investment Corp. will post $0.91 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, October 6th. Stockholders of record on Friday, September 19th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 9.29%. The ex-dividend date is Wednesday, September 17th.
A number of research firms have recently commented on AINV. Analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Apollo Investment Corp. in a research note on Friday, August 8th. They now have a $8.50 price target on the stock, up previously from $8.00. Separately, 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. Finally, 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.
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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