SunTrust Banks Weighs in on Apollo Investment Corp.’s FY2018 Earnings (AINV)

Apollo Investment Corp. (NASDAQ:AINV) – SunTrust Banks lowered their FY2018 earnings estimates for Apollo Investment in a note issued to investors on Thursday. SunTrust Banks analyst D. Mewhirter now forecasts that the asset manager will post earnings per share of $0.61 for the year, down from their prior estimate of $0.62. SunTrust Banks currently has a “Buy” rating and a $6.50 target price on the stock.

Apollo Investment (NASDAQ:AINV) last posted its quarterly earnings results on Wednesday, February 7th. The asset manager reported $0.16 EPS for the quarter, meeting the consensus estimate of $0.16. The company had revenue of $64.75 million during the quarter, compared to analysts’ expectations of $65.94 million. Apollo Investment had a return on equity of 9.45% and a net margin of 28.18%. The firm’s revenue was down 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS.

Several other research firms have also recently commented on AINV. Compass Point initiated coverage on Apollo Investment in a report on Thursday, November 2nd. They issued a “neutral” rating and a $6.25 price target for the company. JPMorgan Chase & Co. lowered their price target on Apollo Investment from $6.50 to $6.00 and set a “neutral” rating for the company in a report on Wednesday, November 1st. BidaskClub cut Apollo Investment from a “sell” rating to a “strong sell” rating in a report on Saturday, January 6th. BMO Capital Markets restated a “hold” rating and issued a $6.00 price target on shares of Apollo Investment in a report on Wednesday, November 15th. Finally, Wells Fargo & Co upgraded Apollo Investment from a “market perform” rating to an “outperform” rating and set a $6.00 price target for the company in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $6.38.

Shares of Apollo Investment (NASDAQ AINV) opened at $5.30 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1,147.58, a PE ratio of 8.28, a price-to-earnings-growth ratio of 1.71 and a beta of 0.88. Apollo Investment has a fifty-two week low of $5.30 and a fifty-two week high of $6.82.

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 12th. Stockholders of record on Tuesday, March 27th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 11.32%. The ex-dividend date is Monday, March 26th. Apollo Investment’s payout ratio is currently 176.47%.

Several large investors have recently modified their holdings of AINV. Rhumbline Advisers grew its holdings in shares of Apollo Investment by 0.3% during the 2nd quarter. Rhumbline Advisers now owns 16,708 shares of the asset manager’s stock worth $107,000 after purchasing an additional 58 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Apollo Investment during the 3rd quarter worth about $108,000. HighTower Advisors LLC grew its holdings in shares of Apollo Investment by 8.8% during the 2nd quarter. HighTower Advisors LLC now owns 17,884 shares of the asset manager’s stock worth $115,000 after purchasing an additional 1,451 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Apollo Investment by 0.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,016 shares of the asset manager’s stock worth $115,000 after purchasing an additional 168 shares during the period. Finally, Murphy Middleton Hinkle & Parker Inc. purchased a new stake in shares of Apollo Investment during the 4th quarter worth about $156,000. Institutional investors and hedge funds own 46.77% of the company’s stock.

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About Apollo Investment

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.

Earnings History and Estimates for Apollo Investment (NASDAQ:AINV)

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