Apollo Investment Corporation (AINV) Expected to Post Quarterly Sales of $68.16 Million
Analysts expect Apollo Investment Corporation (NASDAQ:AINV) to post sales of $68.16 million for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Apollo Investment Corporation’s earnings. The lowest sales estimate is $64.23 million and the highest is $70.73 million. Apollo Investment Corporation reported sales of $69.03 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.3%. The business is scheduled to issue its next earnings report before the market opens on Friday, November 3rd.
According to Zacks, analysts expect that Apollo Investment Corporation will report full year sales of $68.16 million for the current year, with estimates ranging from $267.26 million to $279.00 million. For the next year, analysts anticipate that the business will report sales of $290.13 million per share, with estimates ranging from $283.81 million to $298.47 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Apollo Investment Corporation.
Apollo Investment Corporation (NASDAQ:AINV) last released its quarterly earnings results on Friday, August 4th. The asset manager reported $0.15 earnings per share for the quarter, hitting the consensus estimate of $0.15. The company had revenue of $66.70 million during the quarter, compared to the consensus estimate of $65.19 million. Apollo Investment Corporation had a return on equity of 9.75% and a net margin of 33.04%. Apollo Investment Corporation’s revenue was down 12.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 earnings per share.
Several brokerages have issued reports on AINV. Zacks Investment Research downgraded shares of Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. National Securities reissued a “neutral” rating and set a $6.00 target price on shares of Apollo Investment Corporation in a research note on Wednesday, August 9th. BidaskClub downgraded shares of Apollo Investment Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Jefferies Group LLC reissued a “buy” rating and set a $7.00 target price on shares of Apollo Investment Corporation in a research note on Friday, July 14th. Finally, Bank of America Corporation reissued an “underperform” rating and set a $6.00 target price (up from $5.50) on shares of Apollo Investment Corporation in a research note on Wednesday, August 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $6.33.
Apollo Investment Corporation (AINV) opened at 6.01 on Friday. The firm’s 50-day moving average price is $6.02 and its 200 day moving average price is $6.31. Apollo Investment Corporation has a 52-week low of $5.65 and a 52-week high of $6.82.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 5th. Shareholders of record on Thursday, September 21st were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 9.98%. The ex-dividend date of this dividend was Wednesday, September 20th. Apollo Investment Corporation’s dividend payout ratio (DPR) is currently 150.00%.
A number of large investors have recently made changes to their positions in the business. Karp Capital Management Corp acquired a new position in shares of Apollo Investment Corporation in the first quarter worth $101,000. Atria Investments LLC acquired a new position in shares of Apollo Investment Corporation in the second quarter worth $103,000. GAM Holding AG increased its stake in shares of Apollo Investment Corporation by 2.7% in the second quarter. GAM Holding AG now owns 16,652 shares of the asset manager’s stock worth $106,000 after acquiring an additional 441 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Apollo Investment Corporation by 0.3% in the second quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock worth $107,000 after acquiring an additional 58 shares during the last quarter. Finally, Essex Financial Services Inc. acquired a new position in shares of Apollo Investment Corporation in the second quarter worth $112,000. 45.84% of the stock is currently owned by institutional investors.
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Apollo Investment Corporation Company Profile
Apollo Investment Corporation is a closed-end, externally managed, non-diversified management investment company. The Company’s investment objective is to generate current income and capital appreciation. It invests primarily in various forms of debt investments, including secured and unsecured debt, loan investments and/or equity in private middle-market companies.
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