Equities research analysts expect that Apollo Investment Corp. (NASDAQ:AINV) will post $65.11 million in sales for the current fiscal quarter, Zacks reports. Four analysts have made estimates for Apollo Investment’s earnings, with the highest sales estimate coming in at $65.99 million and the lowest estimate coming in at $63.95 million. Apollo Investment posted sales of $64.75 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.6%. The company is expected to announce its next earnings results on Wednesday, February 6th.
According to Zacks, analysts expect that Apollo Investment will report full year sales of $262.58 million for the current financial year, with estimates ranging from $261.00 million to $264.34 million. For the next year, analysts expect that the business will report sales of $300.04 million, with estimates ranging from $293.11 million to $311.34 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that that provide coverage for Apollo Investment.
Apollo Investment (NASDAQ:AINV) last released its earnings results on Tuesday, October 30th. The asset manager reported $0.45 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.45. The firm had revenue of $66.03 million during the quarter, compared to analysts’ expectations of $67.38 million. Apollo Investment had a net margin of 26.47% and a return on equity of 9.22%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.48 EPS.
Several research firms recently commented on AINV. TheStreet cut shares of Apollo Investment from a “b-” rating to a “c” rating in a research note on Monday, August 13th. Citigroup assumed coverage on shares of Apollo Investment in a report on Thursday, August 23rd. They issued a “sell” rating and a $15.00 price target on the stock. National Securities reissued a “neutral” rating and issued a $18.00 price target on shares of Apollo Investment in a report on Wednesday, August 15th. Barclays boosted their price target on shares of Apollo Investment from $6.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday. Finally, BidaskClub lowered shares of Apollo Investment from a “hold” rating to a “sell” rating in a report on Friday, August 31st. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $18.21.
Institutional investors have recently made changes to their positions in the business. Verition Fund Management LLC bought a new stake in Apollo Investment in the 2nd quarter valued at $106,000. Caxton Associates LP bought a new stake in shares of Apollo Investment in the 3rd quarter worth about $108,000. Russell Investments Group Ltd. bought a new stake in shares of Apollo Investment in the 3rd quarter worth about $116,000. Ramsey Quantitative Systems grew its holdings in shares of Apollo Investment by 94.0% in the 3rd quarter. Ramsey Quantitative Systems now owns 25,463 shares of the asset manager’s stock worth $139,000 after purchasing an additional 12,339 shares during the last quarter. Finally, TCI Wealth Advisors Inc. grew its holdings in shares of Apollo Investment by 313.5% in the 3rd quarter. TCI Wealth Advisors Inc. now owns 27,091 shares of the asset manager’s stock worth $147,000 after purchasing an additional 20,540 shares during the last quarter. 44.56% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:AINV opened at $15.05 on Friday. The firm has a market cap of $1.11 billion, a P/E ratio of 8.22, a P/E/G ratio of 1.71 and a beta of 0.82. Apollo Investment has a one year low of $14.84 and a one year high of $18.00. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.69.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 4th. Shareholders of record on Thursday, December 20th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend is Wednesday, December 19th. Apollo Investment’s dividend payout ratio (DPR) is presently 98.36%.
About Apollo Investment
Apollo Investment Corporation is business development company specializing in middle market companies. It provides direct equity capital, mezzanine and senior secured loans, unsecured debt, and subordinated debt and loans. It also seeks to invest in PIPES transactions. The fund may also invest in securities of public companies that are thinly traded and may acquire investments in the secondary market and structured products.
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